The sendmail port options seem to be adjustable by editing /etc/mail/sendmail.mc. In my case, I needed to get email from the network and hence commented out the following in sendmail.mc: DAEMON_OPTIONS(`Port=smtp,Addr=127.0.0.1, Name=MTA') However, after wasting some time, I found out that the options are hardcoded in /etc/sendmail.cf as follows: O DaemonPortOptions=Port=smtp,Addr=127.0.0.1, Name=MTA This is very confusing and I think it should be controlled by sendmail.mc. Thanks.
After editing sendmail.mc, did you run m4 to create a new sendmail.cf file? Sendmail.mc controls the generation of the sendmail.cf file. Any changes made there will have no effect until you generate a new .cf file and restart sendmail. The syntax should be included in the comments at the top of sendmail.mc, and should be similar to: m4 /etc/mail/sendmail.mc > /etc/sendmail.cf
this is explained on the RELEASE-NOTES file