Note 3 – Inventories

The following is a summary of inventories at April 2, 2016 and December 31, 2015:



	April 2,		December 31,
(Millions of dollars)	2016		2015
At lower of LIFO cost or market:
Live hogs and materials	$	231	$	210
Fresh pork and materials		32		26
		263		236
LIFO adjustment		(27)		(28)
Total inventories at lower of LIFO cost or market		236		208
At lower of FIFO cost or market:
Grains, oilseeds and other commodities		281		330
Sugar produced and in process		34		52
Other		53		61
Total inventories at lower of FIFO cost or market		368		443
Grain, flour and feed at lower of weighted average cost or market		90		88
Total inventories	$	694	$	739