Banking giant Credit Suisse First Boston (CSFB) today [Friday] lowered its earnings estimates for pork processor Smithfield Foods, explaining that there are continued fundamental weakness in the meat market.

Analyst David C. Nelson told Dow Jones that he is now expecting current fiscal Q4 earnings of 20 cents a diluted share, rather than 35 cents.

His full-year estimate fell accordingly to US$1.78 from US$1.93.