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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-10-004417.txt : 20100125
<SEC-HEADER>0001181431-10-004417.hdr.sgml : 20100125
<ACCEPTANCE-DATETIME>20100125133711
ACCESSION NUMBER:		0001181431-10-004417
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100122
FILED AS OF DATE:		20100125
DATE AS OF CHANGE:		20100125

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SMITHFIELD FOODS INC
		CENTRAL INDEX KEY:			0000091388
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		IRS NUMBER:				520845861
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			0427

	BUSINESS ADDRESS:	
		STREET 1:		200 COMMERCE STREET
		STREET 2:		EXECUTIVE OFFICE BUILDING
		CITY:			SMITHFIELD
		STATE:			VA
		ZIP:			23430
		BUSINESS PHONE:		7573653000

	MAIL ADDRESS:	
		STREET 1:		200 COMMERCE STREET
		STREET 2:		EXECUTIVE OFFICE BUILDING
		CITY:			SMITHFIELD
		STATE:			VA
		ZIP:			23430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIBERTY EQUITIES CORP
		DATE OF NAME CHANGE:	19710221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIBERTY REAL ESTATE TRUST
		DATE OF NAME CHANGE:	19661113

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MURPHY WENDELL H
		CENTRAL INDEX KEY:			0000904450

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15321
		FILM NUMBER:		10544253

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1087
		CITY:			ROSE HILL
		STATE:			NC
		ZIP:			28458
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd263168.xml
<DESCRIPTION>FORM 4 - PREPAID FORWARD AGREEMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-01-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000091388</issuerCik>
        <issuerName>SMITHFIELD FOODS INC</issuerName>
        <issuerTradingSymbol>SFD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000904450</rptOwnerCik>
            <rptOwnerName>MURPHY WENDELL H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O 200 COMMERCE STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SMITHFIELD</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>23430</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.50</value>
            </securityTitle>
            <transactionDate>
                <value>2010-01-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>174762</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>912279</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $.50</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Variable Prepaid Forward Agreement (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-01-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>174762</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-01-22</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-01-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>174762</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">See attachment (footnote 1).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael H. Cole, as Attorney-in-fact</signatureName>
        <signatureDate>2010-01-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.
<SEQUENCE>2
<FILENAME>rrd235554_266712.htm
<DESCRIPTION>FOOTNOTE 1 TO FORM 4 FILED 1/25/2010
<TEXT>
<HTML>
<HEAD>
<TITLE>
rrd235554_266712.html
</TITLE>
</HEAD>
<BODY>
<PRE>






Footnote 1 to Form 4 filed by Wendell H. Murphy on January 25, 2010

On January 22, 2010, the reporting person settled a variable prepaid forward agreement (the
"Agreement") that was entered into on June 19, 2006 with an unaffiliated third party purchaser.  The
Agreement obligated the reporting person to deliver to the purchaser up to 174,762 shares of SFD
common stock (or, at the reporting person's election, an equivalent amount of cash) on the
scheduled valuation date (January 22, 2010).  In exchange for assuming this obligation, the reporting
person received a cash payment of $3,954,039.20 as of the date of entering into the Agreement.  The
reporting person pledged 174,762 shares of SFD common stock (the "Pledged Shares") to secure his
obligations under the contract, and retained dividend and voting rights in the Pledged Shares during
the term of the pledge.  The Agreement provided that the number of shares of SFD common stock
that the reporting person would be obligated to deliver to the purchaser on the scheduled valuation
date would be determined as follows:  (a) if the volume weighted average price of SFD common
stock (the "Final Price") on the scheduled valuation date was less than or equal to $26.4778 (the
"Floor Price"), the reporting person would deliver to the purchaser all of the Pledged Shares; (b) if
the Final Price on the scheduled valuation date was between the Floor Price and $33.0973 (the "Cap
Price"), the reporting person would deliver to the purchaser a number of shares of SFD common
stock as determined by reference to a formula specified in the Agreement; and (c) if the Final Price
on the scheduled valuation date was greater than the Cap Price, the reporting person would deliver
to the purchaser a number of shares of SFD common stock as determined by reference to a formula
specified in the Agreement.  The Final Price on the scheduled valuation date was $16.3999.
Accordingly, the reporting person transferred to the purchaser 174,762 of the Pledged Shares to
settle his obligation under the Agreement.


</PRE>
</BODY>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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