----

----

|  þ | ANNUAL      REPORT PURSUANT TO SECTION 15(d) OF THE SECURTIES EXCHANGE ACT OF      1934 |
|--------------|-----------------------------------------------------------------------------------------|

|   ̈ | TRANSITION      REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------------|----------------------------------------------------------------------------------------------|

----

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | PAGE   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   | Report of Independent Registered Public Accounting      Firm                                                                                                                         |  3          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   | Financial      Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   |    Statements of Net Assets      Available for Benefits      As      of December 31, 2008 and 2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 4                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   |    Statement      of Changes in Net Assets Available for Benefits for the Year Ended      December 31, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 5                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   |    Notes      to Financial Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 6                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   | Supplemental      Schedules                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   |    Schedule      of Delinquent Contributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 13               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|   |          Schedule      of Assets (Held at End of Year)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 14               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |

----

Report of 

----

| Smithfield Foods, Inc. Bargaining 401(k)      Plan                                                       |   |   |       |   |   |   |
|----------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                                                                                     |   |   |       |   |   |   |
| Statements      of Net Assets Available for Benefits                                                     |   |   |       |   |   |   |
|                                                                                                     |   |   |       |   |   |   |
|                                                                                                     |   |   |       |   |   |   |
|                                                                                                     |   |   |       |   |   |   |
| December      31,                                                                                        | 2008   |   | 2007       |   |
|                                                                                                     |   |   |       |   |   |   |
| Investments      - at fair value                                                                         |   | $      | 54,670,276 |   |   | $      | 68,636,657 |   |
| Receivables                                                                                              |   |   |       |   |   |   |   |   |
| Participant      contributions                                                                           |   |   | 179,706    |   |   |   | 204,865 |   |
| Employer      contributions                                                                              |   |   | 379,596    |   |   |   | 378,761 |   |
| Total      receivables                                                                                   |   |   | 559,302    |   |   |   | 583,626 |   |
| Net      assets available for benefits - at fair value                                                   |   |   | 55,229,578 |   |   |   | 69,220,283 |   |
| Adjustment      from fair value to contract value for fully benefit-responsive investment      contracts |   |   | 1,182,959  |   |   |   | 106,356 |   |
| Net      assets available for benefits                                                                   |   | $      | 56,412,537 |   |   | $      | 69,326,639 |   |

----

| Smithfield Foods, Inc. Bargaining 401(k)      Plan             |   |   |        |
|----------------------------------------------------------------|--------|--------|-------------|
|                                                           |   |   |        |
| Statement      of Changes in Net Assets Available for Benefits |   |   |        |
|                                                           |   |   |        |
|                                                           |   |   |        |
|                                                           |   |   |        |
| Year      Ended December 31, 2008                              |   |   |        |
|                                                           |   |   |        |
| Additions      to net assets attributed to                     |   |   |        |
| Investment      income (loss)                                  |   |   |        |
| Net      depreciation in fair value of investments             |   | $      | (13,105,846 | ) |
| Interest      and dividends                                    |   |   | 1,803,334   |   |
|                                                           |   |   | (11,302,512 | ) |
| Contributions                                                  |   |   |        |   |
| Participant                                                    |   |   | 7,236,879   |   |
| Employer                                                       |   |   | 3,227,283   |   |
| Rollover                                                       |   |   | 55,649      |   |
|                                                           |   |   | 10,519,811  |   |
| Total      additions                                           |   |   | (782,701    | ) |
| Deductions      from net assets attributed to                  |   |   |        |   |
| Benefits      paid to participants                             |   |   | 4,915,163   |   |
| Administrative      fees                                       |   |   | 60,598      |   |
| Total      deductions                                          |   |   | 4,975,761   |   |
| Transfers      between retirement plans, net                   |   |   | (7,155,640  | ) |
| Net      change                                                |   |   | (12,914,102 | ) |
| Net      assets available for benefits                         |   |   |        |   |
| Beginning      of year                                         |   |   | 69,326,639  |   |
| End      of year                                               |   | $      | 56,412,537  |   |

----

Smithfi

----

----

| 1. | Description      of Plan |
|----|--------------------------|

----

| 2. | Summary      of Accounting Policies |
|----|-------------------------------------|

----

| 3. | Investments |
|----|-------------|

|                                                                                                       |   | December      31, |       |
|------------------------------------------------------------------------------------------------------------|--------|-------------------|------------|
|                                                                                                       |   | 2008              |       |   | 2007 |   |
|                                                                                                       |   |              |       |   |   |   |
| Smithfield      Stable Value Fund – contract value, 2,123,893 and 2,079,598 units,      respectively |   | $                 | 24,625,412 |   |   | $ | 23,098,850 |   |
| PIMCO      Total Return, 366,713 shares                                                                    |   |              | 3,718,468  |   |   |   | * |   |
| Wells      Fargo Collective S&P Index Fund, 85,942 and 88,746 units,      respectively                 |   |              | 3,507,292  |   |   |   | 5,742,760 |   |
| Wells      Fargo Advantage Small Cap Value Z Fund, 161,985 and 214,512 shares,      respectively           |   |              | 2,940,028  |   |   |   | 6,310,947 |   |
| Wells      Fargo Advantage Government Securities Fund, 351,151 shares                                      |   |              | *          |   |   |   | 3,694,107 |   |
| Wells      Fargo Advantage DJ Target 2020 Fund,  246,046    shares                               |   |              | *          |   |   |   | 3,570,128 |   |

| Mutual      funds             |   | $      | 11,160,930 |   |
|-------------------------------|--------|--------|------------|--------|
| Common/collective      trusts |   |   | 1,153,898  |   |
| Group      variable annuity   |   |   | 180,271    |   |
| Common      stock             |   |   | 610,747    |   |
|                          |   | $      | 13,105,846 |   |

| 4. | Investment      Contract with InsuranceCompany |
|----|------------------------------------------------|

----

| December      31, 2008                            |   | Major      Credit Ratings           |   |   | Investments      at Fair Value |      |       | Adjustment      to Contract Value |   |
|---------------------------------------------------|--------|-------------------------------------|--------|--------|--------------------------------|-----------|------------|-----------------------------------|--------|
|                                              |   |                                |   |   |                           |      |       |                              |   |
| Principal      guaranteed interest contract  |   | Moody’s/S      & P Aa3/A+ |   |   | $                              | 2,084,869 |       |                              | $      | (12,344 | ) |
| Wells      Fargo Stable Value Fund G              |   |                                | N/A    |   |                           |      | 21,357,584 |                              |   |   | 1,195,303 |   |
|                                              |   |                                |   |   |                           | $         | 23,442,453 |                              |   | $ | 1,182,959 |   |

| December      31, 2007                            |   | Major      Credit Ratings           |   |   | Investments      at Fair Value |      |       | Adjustment      to Contract Value |   |
|---------------------------------------------------|--------|-------------------------------------|--------|--------|--------------------------------|-----------|------------|-----------------------------------|--------|
|                                              |   |                                |   |   |                           |      |       |                              |   |
| Principal      guaranteed interest contract  |   | Moody’s/S      & P Aa2/AA |   |   | $                              | 3,256,830 |       |                              | $      | 46,971 |   |
| Wells      Fargo Stable Value Fund N              |   |                                | N/A    |   |                           |      | 19,735,663 |                              |   |   | 59,385 |   |
|                                              |   |                                |   |   |                           | $         | 22,992,493 |                              |   | $ | 106,356 |   |

|                                                 |   | 2008   |   |   | 2007   |   |
|------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Average      yields:                                 |   |   |   |   |   |   |
| Based      on actual earnings                        |   |   | 5.09   | %      |   |   | 4.94 | % |
| Based      on interest rate credited to participants |   |   | 4.00   | %      |   |   | 4.81 | % |

----

| 5.   |   Fair Value      Measurements |
|----------------|-------------------------------------|

|   | Level 1 | Inputs to the valuation      methodology are unadjusted quoted market prices for identical assets or      liabilities in active markets that the Plan has the ability to      access. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 2 | Inputs to the valuation      methodology include: |
|--------|---------|---------------------------------------------------|

| ·   | Quoted prices for similar assets      or liabilities in activemarkets; |
|--------------------|------------------------------------------------------------------------|

| ·   | Quoted prices for identical or      similar assets or liabilities in inactive  markets; |
|--------------------|-----------------------------------------------------------------------------------------|

| ·   | Inputs other than quoted prices      that are observable for the asset or  liability; |
|--------------------|---------------------------------------------------------------------------------------|

| ·   | Inputs that are derived      principally from or corroborated by observable market data by correlation      or other means. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------|

|   | Level 3 | Inputs to the valuation      methodology are unobservable and significant to the fair value      measurement. |
|--------|---------|---------------------------------------------------------------------------------------------------------------|

----

|                                 |   | Assets at Fair Value as of      December 31, 2008 |       |
|--------------------------------------|--------|---------------------------------------------------|------------|
|                                 |   | Level 1                                           |       |   | Level 2 |   |   | Level 3 |   |   | Total |   |
|                                 |   |                                              |       |   |   |   |   |   |   |   |   |   |
| Commonstock                          |   | $                                                 | 946,827    |   |   | $ | - |   |   | $ | - |   |   | $ | 946,827 |   |
| Mutualfunds                          |   |                                              | 22,782,515 |   |   |   | - |   |   |   | - |   |   |   | 22,782,515 |   |
| Collective      trusts               |   |                                              | -          |   |   |   | 24,939,157 |   |   |   | - |   |   |   | 24,939,157 |   |
| Guaranteed investment      contracts |   |                                              | -          |   |   |   | - |   |   |   | 2,471,787 |   |   |   | 2,471,787 |   |
| Participant      loans               |   |                                              | -          |   |   |   | - |   |   |   | 3,529,990 |   |   |   | 3,529,990 |   |
| Total assets at fair      value      |   | $                                                 | 23,729,342 |   |   | $ | 24,939,157 |   |   | $ | 6,001,777 |   |   | $ | 54,670,276 |   |

|                                   |   | ParticipantLoans |      |   | Guaranteed Investment      Contracts |   |
|----------------------------------------|--------|------------------|-----------|--------|--------------------------------------|--------|
|                                   |   |             |      |   |                                 |   |
| Balance – beginning of      year |   | $                | 3,307,158 |   |                                 | $      | 3,895,707 |   |
| Unrealized      losses                 |   |             | -         |   |                                 |   | (167,927 | ) |
| Interest      credited                 |   |             | -         |   |                                 |   | 71,077 |   |
| Issuances and settlements,      net    |   |             | 222,832   |   |                                 |   | (1,327,070 | ) |
| Balance – end of      year       |   | $                | 3,529,990 |   |                                 | $      | 2,471,787 |   |

| 6. | Related      Party Transactions |
|----|---------------------------------|

----

| 7. | Tax      Status |
|----|-----------------|

| 8. |        Transfer of Assets |
|----|--------------------------------|

| Assets      transferred to the Plan from John Morrell & Co. Salaried Employees      Incentive Savings Plan, net |   | $      | 2,911    |   |
|---------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|
| Assets      transferred from the Plan to Smithfield Foods, Inc. 401(k) Plan,      net                               |   |   | (109,813 | )      |
|                                                                                                                |   | $      | (106,902 | )      |

| 9. | Plan      Termination |
|----|-----------------------|

| 10. | Risks and      Uncertainties |
|-----|------------------------------|

----

|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  | Supplemental Schedule      I |
|-----------------------------------------------------------------|--------|---------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------|------------------------------|
| Smithfield Foods, Inc. Bargaining 401(k)      Plan              |   |                                                                                  |   |                                                                                                                                   |   |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
| Schedule      of Delinquent Contributions                       |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |
| Schedule      H, Line 4a                                        |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
| EIN      52-0845861      Plan 004 |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
| December 31,      2008                                          |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
|                                                            |   |                                                                                  |   |  Total      that constitute non-exempt prohibited transactions                                                                    |   |                                                                                  |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
|                                                            |   | Participant                                                                           |   |                                                                                                                                   |   |                                                                                  |                         |   |   | Total      fully |
|                                                            |   | contributions                                                                         |   |                                                                                                                                   |   |  Contributions                                                                   |                         |  Contributions |   | corrected      under |
| Contribution                                                    |   | transferred      late                                                                 |   |                                                                                                                                   |   |  corrected                                                                       |                         |  pending |   | VFC      program |
| for                                                             |   | to      the plan for                                                                  |   | Contributions                                                                                                                          |   | outside                                                                               |                         |  correction      in |   | and |
| plan      year                                                  |   | plan      year                                                                        |   | not      corrected                                                                                                                     |   | VFC      program                                                                      |                         |  VFC      program |   | PTE      2002-51 |
|                                                            |   |                                                                                  |   |                                                                                                                                   |   |                                                                                  |                         |   |   |   |
| 2008                                                            |   |  $            93,310 |   |  $                     - |   |  $            93,310 |                         |  $                     - |   |  $                     - |

----

|                                               |   |                                            |                        |   Supplemental Schedule      II |
|----------------------------------------------------|--------|-------------------------------------------------|-----------------------------|-------------------------------------------|
| Smithfield Foods, Inc. Bargaining 401(k)      Plan |   |                                            |                        |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
| Schedule      of Assets (Held at End of Year)      |   |                                            |                        |                                      |
| Schedule      H, Line 4i                           |   |                                            |                        |                                      |   |   |   |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
| EIN      52-0845861 Plan 004                  |   |                                            |                        |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
| December      31, 2008                             |   |                                            |                        |                                      |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
| Identity      of issue,                            |   | Description      of investment                  |                        |                                      |   |
| borrower,      lessor                              |   | including      maturity date, rate of interest, | Current                     |                                      |
| or      similar party                              |   | collateral,      par, or maturity value         | value                       |                                      |
|                                               |   |                                            |                        |                                      |   |   |   |   |   |
|                                               | *      |                                            | Smithfield      Foods, Inc. |                                      |   | 2,123,893 |   | units      of Smithfield Stable Value Fund - contract value |   | $ | 24,625,412 |   |
|                                               |   |                                            | PIMCO                       |                                      |   | 366,713 |   | shares      of Pimco Total Return Fund |   |   | 3,718,468 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 85,942 |   | units      of Collective S&P Index Fund |   |   | 3,507,292 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 161,985 |   | shares      of Advantage Small Cap Value Z Fund |   |   | 2,940,028 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 229,600 |   | shares      of Advantage DJ Target 2020 Fund |   |   | 2,495,751 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 225,981 |   | shares      of Advantage Government Securities Fund |   |   | 2,436,077 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 207,929 |   | shares      of Advantage DJ Target 2010 Fund |   |   | 2,289,298 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 208,656 |   | shares      of Advantage DJ Target 2030 Fund |   |   | 2,130,377 |   |
|                                               |   |                                            | American      Funds         |                                      |   | 50,885 |   | shares      of Europacific Growth Fund R4 |   |   | 1,402,394 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 111,007 |   | shares      of Advantage DJ Target Today |   |   | 1,056,782 |   |
|                                               | *      |                                            | Smithfield      Foods, Inc. |                                      |   | 67,274 |   | shares      of Smithfield Foods, Inc. common stock |   |   | 946,827 |   |
|                                               |   |                                            | Riversource                 |                                      |   | 200,718 |   | shares      of Mid-Cap Value Fund R4 |   |   | 943,377 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 84,134 |   | shares      of Advantage DJ Target 2040 Fund |   |   | 894,344 |   |
|                                               |   |                                            | Columbia                    |                                      |   | 46,300 |   | shares      of Acorn Select Z Fund |   |   | 651,446 |   |
|                                               |   |                                            | MFS                         |                                      |   | 35,358 |   | shares      of Value Fund |   |   | 620,184 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 52,146 |   | shares      of Advantage Capital Growth Fund |   |   | 541,802 |   |
|                                               |   |                                            | Davis                       |                                      |   | 22,597 |   | shares      of NY Venture (A) |   |   | 533,737 |   |
|                                               |   |                                            | Clearcourse                 |                                      |   | 53,689 |   | units      of Group Variable Annuity |   |   | 386,918 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 20,651 |   | shares      of Advantage DJ Target 2050 Fund |   |   | 128,450 |   |
|                                               | *      |                                            | Wells      Fargo            |                                      |   | 74,281 |   | shares      of Short Term Investment Fund G |   |   | 74,281 |   |
|                                               | *      |                                            | Participant      loans      |                                      | Maturing      through May 2018, interest rates ranging from 5% to 10.25%, secured by      participant accounts |   |   | 3,529,990 |   |
|                                               |   |                                            |                        |                                      |   |   |   |   |   | $ | 55,853,235 |   |

----

|                     | SMITHFIELD      FOODS, INC. BARGAINING 401(k) PLAN       |
|--------------------------|----------------------------------------------------------|
|                     | (Smithfield      Foods, Inc. as Plan Administrator)      |
|                     |                                                     |   |
|                     |                                                     |   |
|                     |                                                     |   |
| Date:      June 29, 2009 | /s/      Robert W. Manly, IV                             |   |
|                     | Robert      W. Manly, IV                                 |
|                     | Executive      Vice President and Chief FinancialOfficer |

----

| Exhibit      23 | Consent      of Independent Registered Public AccountingFirm |
|-----------------|--------------------------------------------------------------|

----