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Hog Demand Sends Smithfield Earnings Up

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Smithfield Foods’ preliminary quarterly earnings were stronger than expected, with rising prices and demand for hogs.

The company expects to announce earnings for the third quarter of fiscal 2005 in the range of $.86 to $.87 per diluted share, versus $.38 per diluted share from continuing operations in the same quarter last year.

Smithfield attributed the sharp increase in earnings to the continuing success of its vertical integration strategy the company embarked upon a decade ago.

Smithfield will announce third quarter earnings on March 1.

“It’s really all about live hog prices and periods of stronger prices for the production piece for their business and lower feed costs,” said FTN Midwest Research analyst, Christine McCracken.

With annualized sales of $10 billion, Smithfield Foods is the largest producer of hogs in the United States.

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Hog Demand Sends Smithfield Earnings Up
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