FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   SMITHFIELD FOODS INC 2. Date of Event Requiring Statement (Month/Day/Year) 09/17/2006 3. Issuer Name and Ticker or Trading Symbol PREMIUM STANDARD FARMS, INC. [PORK] (Last) (First) (Middle) 200 COMMERCE STREET 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) See Note 1 below 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SMITHFIELD, VA 23430 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common stock, par value $0.01 per share 0 (1) I (1) See footnote (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SMITHFIELD FOODS INC 200 COMMERCE STREET SMITHFIELD, VA 23430	Â	  X	Â	See Note 1 below

Signatures

/s/Michael H. Cole, Vice President, Chief Legal Officer and Secretary		09/27/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	By virtue of the Voting Agreement dated as of September 17, 2006, by and among Smithfield Foods, Inc. ("Parent"), ContiGroup Companies, Inc. and the Issuer (the "Voting Agreement"), Parent may be deemed a beneficial owner purusant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Act"), of 12,428,592 shares of common stock, par value $0.01 per share, of the Issuer ("Common Stock") which are subject to the Voting Agreement. Pursuant to Rule 16a-1(a)(4) under the Act, Parent hereby states that this Initial Statement of Beneficial Ownership of Securities on Form 3 shall not be deemed an admission that Parent is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of such shares of Common Stock. Parent does not have any pecuniary interest in such shares of Common Stock.

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