Hormel Foods Corporation makes packaged meat and food products including Spam, Skippy peanut butter and various other branded and store-brand grocery products, one of the larger meat processing and packaged food companies in the United States. Its portfolio spans both shelf-stable canned and packaged meat products with long histories as grocery staples, along with refrigerated meat products and other food categories the company has added through acquisitions over the years. Hormel's business benefits from strong brand recognition in specific product categories, though it also faces exposure to commodity meat and agricultural input costs that can fluctuate based on livestock prices and feed costs. The company's revenue tends to be relatively stable through economic cycles, since packaged food is a recurring grocery purchase, though profitability can be pressured when commodity input costs rise faster than the company can pass through in pricing.