August 9, 2007

Smithfield Foods confirms classical swine fever in Romania

Smithfield Foods Inc. has quarantined two hog farms in Romania after outbreaks of classical swine fever were confirmed.

The world's largest processor of pork and pork products said 39,000 animals will be destroyed, but tests at the company's other Romanian farms have thus far been negative.

Smithfield said disposal costs will hurt operating results in the second quarter by US$4 million to US$5 million.

In after-hours activity, Smithfield shares traded at US$33.25 after closing Wednesday (August 8) up US$2.09, or 6.6 percent, or US$33.86.