Inventories (Tables)

3 Months Ended

Mar. 30, 2024

Inventories

Summary of inventories

	March 30,		December 31,
(Millions of dollars)	2024		2023
At lower of FIFO cost and net realizable value (“NRV”):
Hogs and materials	$	529	$	527
Pork products and materials		75		61
Grains, oilseeds and other commodities		283		366
Biofuels and related credits		139		160
Other		107		124
Total inventories at lower of FIFO cost and NRV		1,133		1,238
Grain, flour and feed at lower of weighted average cost and NRV		191		224
Total inventories	$	1,324	$	1,462