Predation on wild and hatchery-reared Atlantic salmon smolts was studied in the estuary of River Orkla. Cod and saithe congregating in the estuary were the most serious predators on smolts. There was no difference between the mortality rates of wild and hatchery-reared smolts. Predation by cod was estimated at 20%. No evidence was found to indicate selective predation on the smallest wild and hatchery-reared smolts.