March 28,

December 31,

(Millions of dollars)

2020

2019

At lower of LIFO cost or market:

Hogs and materials

$

394

$

387

Fresh pork and materials

48

46

LIFO adjustment

(63)

(64)

Total inventories at lower of LIFO cost or market

379

369

At lower of FIFO cost and net realizable value:

Grains, oilseeds and other commodities

425

353

Sugar produced and in process

26

17

Other

117

109

Total inventories at lower of FIFO cost and net realizable value

568

479

Grain, flour and feed at lower of weighted average cost and net realizable value

175

174

Total inventories

$

1,122

$

1,022