Inventories (Tables)

3 Months Ended

Mar. 31, 2018

Inventories

Summary of inventories

	March 31,		December 31,
(Millions of dollars)	2018		2017
At lower of LIFO cost or market:
Live hogs and materials	$	332	$	313
Fresh pork and materials		36		28
		368		341
LIFO adjustment		(34)		(31)
Total inventories at lower of LIFO cost or market		334		310
At lower of FIFO cost and net realizable value:
Grains, oilseeds and other commodities		209		253
Sugar produced and in process		39		38
Other		76		90
Total inventories at lower of FIFO cost and net realizable value		324		381
Grain, flour and feed at lower of weighted average cost and net realizable value		139		89
Total inventories	$	797	$	780