Exhibit 99.1

                            PRESS RELEASE
                          REPORT OF EARNINGS

                                                        August 8, 2003
                                               Shawnee Mission, Kansas

      The  following is a report of earnings for Seaboard  Corporation
(AMEX  symbol;  SEB)  with offices at 9000 West 67th  Street,  Shawnee
Mission,  Kansas 66202, (the "Company"), for the three and six  months
ended  June 28, 2003 and June 29, 2002 in thousands of dollars  except
per share amounts.


                                    Three Months Ended       Six Months Ended
                                   June 28,    June 29,    June 28,    June 29,
                                     2003        2002        2003        2002

Net sales                        $  485,883  $  477,104  $  947,750  $  920,027
Earnings (loss) before
cumulative effect of changes
in accounting principles         $   (2,916) $   15,098  $   (3,849) $   16,821

Cumulative effect of changes
in accounting for asset
retirement obligations and
dry-dock accruals, net of
income tax expense of $550                -           -       3,648           -

Net earnings (loss)              $   (2,916) $   15,098  $     (201) $   16,821

Earnings (loss) per share
before cumulative effect of
changes in accounting
principles                       $    (2.32) $    10.15  $    (3.06) $    11.31

Cumulative effect of changes
in accounting for asset
retirement obligations and
dry-dock accruals                         -           -        2.90           -

Net earnings (loss) per
common share                     $    (2.32) $    10.15  $    (0.16) $    11.31

Average number of shares
outstanding                       1,255,054   1,487,520   1,255,054   1,487,520


Notes to Report of Earnings:

Effective  January 1, 2003, the Company adopted Statement of Financial
Accounting  Standard No. 143, which required the Company to  record  a
long-lived asset and related liability for asset retirement obligation
costs  associated with the closure of the hog lagoons  it  is  legally
obligated  to close. Accordingly, the Company recorded the  cumulative
effect of the change in accounting principle with a charge to earnings
of $2,195,000 ($1,339,000 net of tax).

Additionally,  effective  January 1, 2003,  the  Company  changed  its
method  of accounting for the scheduled dry-dock of vessels  from  the
accrue-in-advance method to the direct-expense method.  As  a  result,
during the first quarter of 2003, the Company reversed the balance  of
the  accrued  liability for dry-dock maintenance as  of  December  31,
2002,  resulting in an increase in earnings of $6,393,000  ($4,987,000
net of related tax expense).

During  the  third quarter of 2003, the Company will  be  required  to
consolidate  two variable interest entities pursuant to the  Financial
Accounting  Standards Board Interpretation No. 46. As  a  result,  the
Company  will  record  a cumulative effect of a change  in  accounting
principle  for  the excess of fixed asset depreciation  over  mortgage
loan amortization of $1,158,000 ($706,000 net of tax).