''There isn't currently that agreement,'' Mr Hewett said in a recent update to suppliers and shareholders.
He was referring to a recently-released report, commissioned by Meat Industry Excellence, that said more than $400 million in gains would be available over five years from a merger of Alliance Group and Silver Fern Farms, and more than a billion dollars in savings could be realised from a rationalisation process that included the four largest companies - Silver Fern Farms, Alliance Group, Anzco and Affco.
Silver Fern Farms had consistently said it was open to ''sensible discussions''.
The company also continued to believed there was much that could be done without common ownership in areas such as livestock logistics and export freight, and it would continue to push those opportunities, Mr Hewett said.
''We want to do the best thing for our shareholders and suppliers. Right now, that is continuing to strengthen our balance sheet so that we can advance our value creation strategy and provide greater returns from plate to pasture over the long run.''
Beyond that, if other processors became willing to discuss ways to create efficiencies then Silver Fern Farms would ''certainly be at the table'', he said.
The MIE report focused on delivering improved returns for farmers and the company believed its strategy was ''completely consistent'' with that.
Silver Fern Farms agreed there was value to be gained by greater co-ordination of capacity and procurement.
''Processing over-capacity, particularly in sheepmeats, is an issue that we know would ideally be resolved.
"Whilst we don't believe the numbers are as large as proposed under the MIE report, they are material,'' he said.
Capacity was not easily removed, and there was no certainty the benefits would fall to the party who paid to remove it.
''Everyone stands off hoping that someone else will remove capacity and then they can take advantage.
''This clearly indicates that it is an industry issue and the industry must act in a co-ordinated manner to resolve it.''
If part of the solution was merging companies, the case must still stack up commercially, he said.
Beef and Lamb New Zealand chairman James Parsons said any restructuring of the meat processing sector required capital.
The majority of farmers preferred farmer ownership, yet a strong investment proposition still needed to be tested with farmers.
''On the face of it, a farmer ownership model is very achievable, given that the equity in farm businesses is 76% on average.
''If, however, sufficient farmers aren't prepared to invest beyond the farm gate, capital will come from somewhere and, potentially, an offshore investor is a real possibility,'' he said.
Company shareholders had the legal and moral right to direct their company's future. While Beef and Lamb NZ advocated for farmer's interests, it would ''not cross the line and meddle'' in the commercial affairs of companies and their shareholders, Mr Parsons said.
