Smithfield Foods Expects Increasing Pork Sales

Although Smithfield Foods Inc. (NYSE: SFD) reported sharply lower second quarter earnings of 3 cents per share compared with 13 cents per share in the year ago period that fell short of estimates, the pork producer said that its liquidity was strong, pork volumes rose and is expected to continue rising as consumers seek less expensive meat. The stock price climbed 97 cents to $7.10.