Smithfield Foods (SFD) 8-K Smithfield Foods Announces Pricing of $1 Billion Senior Notes Due 2022

Exhibit 12.1

Smithfield Foods, Inc. and Subsidiaries

Computation of Ratio of Earnings to Fixed Charges

(Dollars in millions)

						Historical								Pro Forma
	April 27, 2008		May 3, 2009			May 2, 2010			May 1, 2011			April 29, 2012		April 29, 2012
Earnings:
Income (loss) from continuing operations before income taxes		212.0		(382.2	)		(214.6	)		757.1			533.7		531.6
Adjustments:
(Income) loss from equity method investments		—		—			(38.6	)		(50.1	)		9.9		9.9
Distributed income of equity investees		—		—			23.7			5.1			6.9		6.9
Fixed charges		208.1		238.6			282.8			259.5			192.2		190.1
Earnings as Adjusted		420.1		(143.6	)		53.3			971.6			742.7		738.5
Fixed Charges:
Interest expense		184.8		221.8			266.4			245.4			176.7		174.6
Interest factor of rentals		23.3		16.8			16.4			14.1			15.5		15.5
Fixed Charges		208.1		238.6			282.8			259.5			192.2		190.1
Ratio of Earnings to Fixed Charges		2.0x		(0.6	)x		0.2x			3.7x			3.9x		3.9x