J.P. Morgan is Neutral on Smithfield Foods

J.P. Morgan & Co. released a report today that it has given a Neutral rating to Smithfield Foods, Inc.

, the world's largest processor and producer of pork. In the report, J.P. Morgan stated that, “Management said that fresh pork margins next year should be at the high end of the normalized range, packaged meats margins at the high end of the normalized range with volume growth, normal hog production margins, and international margins at the high end of the normalized range.” Smithfield Foods, Inc. closed at $22.35 on Friday.