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Inventories

12 Months Ended

Dec. 25, 2011

INVENTORIES

Inventories consisted of the following:



	December 25, 2011		December 26, 2010
	(In thousands)
Chicken:
Live chicken and hens	$	363,590	$	348,700
Feed, eggs and other	238,449		221,939
Finished chicken products	273,363		440,458
Total chicken inventories	875,402		1,011,097
Other products:
Commercial feed, table eggs, retail farm store and other	3,674		12,355
Distribution inventories (other than chicken products)	18		5,802
Total other products inventories	3,692		18,157
Total inventories	$	879,094	$	1,029,254

Inventories did not include a lower-of-cost-or-market allowance at December 25, 2011. Inventories included a lower-of-cost-or-market allowance of $2.5 million at December 26, 2010. The loss recognized on the application of the rule of lower-of-cost-or-market valuation in 2010 was also $2.5 million.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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