US pork producer Smithfield Foods has reported third-quarter earnings of US$5.3m, compared with $54.5m in the year-ago period.

Smithfield warned back in January that its earnings for the fiscal third quarter to 26 January would be much lower than in the previous year due to low hog prices.

Smithfield’s sales in the third quarter were $2.0bn, compared with $2.1bn a year earlier.