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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>0001181431-10-035026.txt : 20100629
<SEC-HEADER>0001181431-10-035026.hdr.sgml : 20100629
<ACCEPTANCE-DATETIME>20100629150312
ACCESSION NUMBER:		0001181431-10-035026
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100625
FILED AS OF DATE:		20100629
DATE AS OF CHANGE:		20100629

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:		10922875

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1087
		CITY:			ROSE HILL
		STATE:			NC
		ZIP:			28458
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd280080.xml
<DESCRIPTION>FORM 4 - PREPAID FORWARD AGREEMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-06-25</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>2010-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>411364</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>500915</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>2010-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>411364</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-06-25</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-06-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>411364</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>2010-06-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.
<SEQUENCE>2
<FILENAME>rrd251005_283237.htm
<DESCRIPTION>VARIABLE PREPAID FOOTNOTE DETAIL
<TEXT>
<HTML>
<HEAD>
<TITLE>
rrd251005_283237.html
</TITLE>
</HEAD>
<BODY>
<PRE>
<p><p>Footnote 1 to Table II of Form 4 filed by Wendell H. Murphy on June 29, 2010<p>On June 25, 2010, the reporting person established in final form the total number of shares required to be delivered to an unaffiliated third <br>party purchaser pursuant to a variable prepaid forward agreement (the "Agreement") that was entered into on July 15, 2003 and <br>subsequently amended and restated on October 11, 2007.  The amended Agreement obligated the reporting person to deliver to the <br>purchaser up to 411,364 shares of SFD common stock (or, at the reporting person's election, an equivalent amount of cash) dependent on <br>the share price of SFD common stock on each of five scheduled valuation dates in the valuation period ending June 25, 2010.  In <br>exchange for assuming this obligation, the reporting person received a cash payment of $11,537,600.28 as of the date of entering into the <br>amended Agreement.  The reporting person pledged a total of 411,364 shares of SFD common stock (the "Pledged Shares") 
to secure his <br>obligations under the contract, and retained dividend and voting rights in the Pledged Shares during the term of the pledge.  The amended <br>Agreement provided that the number of shares of SFD common stock that the reporting person would be obligated to deliver to the <br>purchaser on each scheduled valuation date would be determined as follows:  (a) if the volume weighted average price of SFD common <br>stock (the "Final Price") on the scheduled valuation date was less than or equal to $31.5314 (the amended "Floor Price"), the reporting <br>person would deliver to the purchaser all of the Pledged Shares for that day; (b) if the Final Price on the scheduled valuation date was <br>between the amended Floor Price and $37.8377 (the amended "Cap Price"), the reporting person would deliver to the purchaser a number <br>of shares of SFD common stock as determined by reference to a formula specified in the amended Agreement; and (c) if the Final Price <br>on the scheduled valuation date was great
er than the amended Cap Price, the reporting person would deliver to the purchaser a number of <br>shares of SFD common stock as determined by reference to a formula specified in the amended Agreement.  The Final Price on each <br>valuation date during the valuation period ranged from $15.0641 to $15.5199.  Accordingly, the reporting person transferred to the <br>purchaser a total of 411,364 of the Pledged Shares to settle his obligation under the amended Agreement.<p>
</PRE>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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