Inventories (Tables)

12 Months Ended

Dec. 31, 2016

Inventories

Summary of inventories

	December 31,
(Millions of dollars)	2016		2015
At lower of LIFO cost or market:
Live hogs and materials	$	273	$	210
Fresh pork and materials		34		26
		307		236
LIFO adjustment		(21)		(28)
Total inventories at lower of LIFO cost or market		286		208
At lower of FIFO cost or market:
Grains, oilseeds and other commodities		279		330
Sugar produced and in process		30		52
Other		62		61
Total inventories at lower of FIFO cost or market		371		443
Grain, flour and feed at lower of weighted average cost or market		105		88
Total inventories	$	762	$	739