-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Cy2wpYcLh8O1PK1aC1YIwyDlnqPKdHvQJmHLyf/rIXi9eKVbae4sOW/JrBu0MmL4
 vCyVFJvGzQQ5nMKiwP/mbg==

<SEC-DOCUMENT>0001123292-04-000123.txt : 20040324
<SEC-HEADER>0001123292-04-000123.hdr.sgml : 20040324
<ACCEPTANCE-DATETIME>20040324172834
ACCESSION NUMBER:		0001123292-04-000123
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040322
FILED AS OF DATE:		20040324

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MURPHY HARRY D
		CENTRAL INDEX KEY:			0001261297

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15321
		FILM NUMBER:		04687998

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1087
		CITY:			ROSE HILL
		STATE:			NC
		ZIP:			28458

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:			0430

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-22</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001261297</rptOwnerCik>
            <rptOwnerName>MURPHY HARRY D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 1087</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ROSE HILL</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28458</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Put equivalent position (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-03-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3596</value>
                    <footnoteId id="F4"/>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2007-03-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3596</value>
                    <footnoteId id="F4"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3596</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By HDM Legacy LLC</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person owns the Class A limited liability company interests of HDM Legacy LLC, which provide the Reporting Person with a 1% pecuniary interest in the shares of Smithfield Foods Inc. common stock (&quot;Common Stock&quot;) held by HDM Legacy LLC and the power to transfer the Class A interests in HDM Legacy LLC and to change the manager of HDM Legacy LLC.  Dispositive power over the shares of Common Stock owned by HDM Legacy LLC is held by an independent manager, as required under the HDM Legacy LLC operating agreeement.  The Reporting Person disclaims beneficial ownership of the shares of Common Stock held by HDM Legacy LLC except to the extent of the Reporting Person's 1% pecuniary interest.</footnote>
        <footnote id="F2">On March 22, 2004, HDM Legacy LLC entered into a prepaid variable forward contract (&quot;Contract&quot;) with an unaffiliated third party buyer (&quot;Buyer&quot;) pursuant to a Master Agreement.  The Contract obligated HDM Legacy LLC to deliver to the Buyer up to 359,533 shares of Common Stock (or an equivalent amount of cash, if elected by HMD Legacy LLC) on the Maturity Date of the Contract (i.e., March 22, 2007, or an earlier date if the parties agree to terminate the Contract early) in exchange for a cash payment of $8,093,088.   HDM Legacy LLC pledged 359,533 shares of Common Stock (the &quot;Pledged Shares&quot;) to secure its obligations under the Master Agreement. HDM Legacy LLC will pay to Buyer all dividends received on the Pledged Shares during the term of the transaction.   The number of shares to be delivered to the Buyer on the Maturity Date is to be determined as follows, on the basis of the share prices of the Common Stock: (i) If the closing price per share of the
 Common Stock</footnote>
        <footnote id="F3">(continuation of prior footnote) on the Maturity Date (the &quot;Settlement Price&quot;)  is less than or equal to $25.85 (i.e., the &quot;Floor Price,&quot; which price was determined on the date of entering into the Contract), HDM Legacy LLC would deliver to the Buyer the entire amount of Pledged Shares; (ii) If the Settlement Price is between the Floor Price and $33.61 (the &quot;Cap Price&quot;), HDM Legacy LLC would deliver to the Buyer a number of shares determined by multiplying the Pledged Shares by a number equal to the Floor Price divided by the Settlement Price; (iii) If the Settlement Price is greater than the Cap Price, HDM Legacy LLC would deliver to the Buyer a number of shares determined by reference to a formula specified in the Contract that would result in HDM Legacy LLC being obligated to deliver fewer than the number of Pledged Shares.</footnote>
        <footnote id="F4">This amount reflects the Reporting Person's beneficial ownership of 1% of the pecuniary interest of the shares of Common Stock owned by HDM Legacy LLC.</footnote>
    </footnotes>

    <remarks>The reporting person may be deemed to be a member of a &quot;group&quot; with Wendell H. Murphy, Wendell H. Murphy, Jr., Wendy Murphy Crumpler, Joyce Murphy Minchew, Stratton K. Murphy, Marc D. Murphy and Angela Norman Brown for purposes of Section 13(d) of the Exchange Act.</remarks>

    <ownerSignature>
        <signatureName>Mark Roberts (attorney-in-fact)</signatureName>
        <signatureDate>2004-03-24</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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