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Smithfield Foods Provides Peek into Q4 Earnings

by 5m Editor
22 April 2010, at 6:22am

US - Smithfield Foods has indicated that it does not expect its fourth quarter hog production segment results to reflect the benefits of the recently and dramatically improved live hog production environment.

This is due to significant mark-to-market losses on a portion of its lean hog hedged position.

Smithfield noted that these losses are the result of the sizeable and unexpected run-up in the futures curve for lean hogs for the summer and fall months of 2010.

At the same time, the company reiterated its favorable outlook for this segment in fiscal 2011.