Smithfield CEO downplays recession impact

Smithfield Foods is somewhat insulated from the current recession, company President and CEO Larry Pope announced earlier this week.

Calling the current economic climate as ''the scariest time in his entire professional career'', Pope said it was skyrocketing corn prices, not the recession, which have caused the biggest problems.

Pope said the company would be doing well if corn prices had not shot up. Pope also noted that consumers are downgrading to more affordable items such as hot dogs.

Pope also questioned how helpful the US stimulus package would be in terms of job creation.

Smithfield Foods Inc. is the world's largest pork producer and processor, raising and processing tens of millions of hogs per year.