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Published September 09, 2009, 08:32 AM

Smithfield Foods posts large loss

The nation’s largest pork producer, Smithfield Foods Inc., said Tuesday it posted a bigger first-quarter loss as one-time charges and lower domestic hog prices hurt results, despite curtailed production.

MILWAUKEE (AP) — The nation’s largest pork producer, Smithfield Foods Inc., said Tuesday it posted a bigger first-quarter loss as one-time charges and lower domestic hog prices hurt results, despite curtailed production.

But the fresh pork losses were offset by significant improvements in the company’s packaged-meat business and were in line with analyst estimates. The company has been shifting focus to packaged meats products like ham and bacon, which make more money and appeal to consumers eating more at home.

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