Inventories (Tables)

12 Months Ended

Dec. 31, 2017

Inventories

Summary of inventories

	December 31,
(Millions of dollars)	2017		2016
At lower of LIFO cost or market:
Live hogs and materials	$	313	$	273
Fresh pork and materials		28		34
		341		307
LIFO adjustment		(31)		(21)
Total inventories at lower of LIFO cost or market		310		286
At lower of FIFO cost and net realizable value:
Grains, oilseeds and other commodities		253		279
Sugar produced and in process		38		30
Other		90		62
Total inventories at lower of FIFO cost and net realizable value		381		371
Grain, flour and feed at lower of weighted average cost and net realizable value		89		105
Total inventories	$	780	$	762