Packaged pork protects earnings while fresh pork absorbs commodity pressure

Smithfield Foods’ quarterly figures show a clear split between fresh pork and packaged meats in a weaker commodity-market environment. In the fiscal third quarter ended 27 September 2026, group sales fell 8.3% to $3.4 billion. Operating profit declined from $310 million to $127 million. By contrast, the Packaged Meats segment increased operating profit from $226 million to $230 million and lifted its margin from 10.8% to 11.6%.