Smithfield Foods Inc. will transfer part of its pig farming business to a new joint venture controlled by Murphy Family Ventures LLC. This company, which produces "Farmland" bacon and "Farmer John" sausage, is seeking to further simplify its operation before the planned stock issuance. In a statement, the Virginia-based Smithfield company indicated that the Murphy-controlled company will own the 150,000 sows currently owned by Smithfield, which supply about 3.2 million pigs annually for this USA pork producer. The terms of the trade were not disclosed.