Smithfield Foods, Inc., together with its subsidiaries (the �Company,�
"Smithfield," �we,� �us� or �our�), began as a pork processing operation called
The Smithfield Packing Company, founded in 1936 by Joseph W. Luter and his son,
Joseph W. Luter, Jr. Through a series of acquisitions starting in 1981, we have
become the largest pork processor and hog producer in the world.
We produce and market a wide variety of fresh meat and packaged meats products
both domestically and internationally. We operate in a cyclical industry and our
results are affected by fluctuations in commodity prices.