Exhibit 99.1
                               PRESS RELEASE
                            REPORT OF EARNINGS

                                                            August 10, 2004
                                                    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 July 3, 2004 and
June 28, 2003, in thousands of dollars except per share amounts.

                                     Three Months Ended     Six Months Ended
                                     July 3,   June 28,    July 3,   June 28,
                                       2004      2003        2004      2003

Net sales                         $  712,307 $  485,883  $1,327,982 $  947,750

Earnings (loss) before cumulative
 effect of changes in accounting
 principles                           34,256     (2,916)     61,633     (3,849)

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

Net earnings (loss)               $   34,256 $   (2,916) $   61,633 $     (201)

Earnings (loss) per share before
 cumulative effect of changes in
 accounting principles            $    27.29 $    (2.32) $    49.11 $    (3.06)

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

Net earnings (loss) per common
 share                            $    27.29 $    (2.32) $    49.11 $    (0.16)

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


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) or $1.07 per common share.

Additionally, effective January 1, 2003, the Company changed its method  of
accounting for the scheduled drydock 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
drydock maintenance as of December 31, 2002, resulting in  an  increase  in
earnings of $6,393,000 ($4,987,000 net of tax) or $3.97 per common share.