Inventories (Tables)

9 Months Ended

Sep. 30, 2017

Inventories

Summary of inventories

	September 30,		December 31,
(Millions of dollars)	2017		2016
At lower of LIFO cost or market:
Live hogs and materials	$	296	$	273
Fresh pork and materials		32		34
		328		307
LIFO adjustment		(23)		(21)
Total inventories at lower of LIFO cost or market		305		286
At lower of FIFO cost or market:
Grains, oilseeds and other commodities		330		279
Sugar produced and in process		33		30
Other		72		62
Total inventories at lower of FIFO cost or market		435		371
Grain, flour and feed at lower of weighted average cost or market		88		105
Total inventories	$	828	$	762