DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jul. 01, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivative Instruments and Cash Collateral

Information regarding the Company’s outstanding derivative instruments and collateral posted with (owed to) brokers is included in the following table:

	July 1, 2018			December 31, 2017
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	18,678		$	722
Commodity derivative liabilities	(42,561		)	(3,847		)
Foreign currency derivative assets	527			45
Foreign currency derivative liabilities	(278		)	(211		)
Collateral posted with brokers(a)	33,185			8,021
Derivatives coverage(b):
Corn	24.7		%	3.1		%
Soybean meal	18.4		%	1.7		%
Period through which stated percent of needs are covered:
Corn	March 2019			March 2019
Soybean meal	July 2019			December 2018

(a) Collateral posted with brokers consists primarily of cash, short term treasury bills, or other cash equivalents.

(b) Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following tables present the components of the gain or loss on derivatives that qualify as cash flow hedges:

	Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	July 1, 2018			June 25, 2017			July 1, 2018			June 25, 2017
	(In thousands)
Foreign currency derivatives	$	(98	)	$	622		$	(97	)	$	698
Total	$	(98	)	$	622		$	(97	)	$	698
	Net Realized Gains (Losses) Recognized in Income on Derivative (Ineffective Portion)
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	July 1, 2018			June 25, 2017			July 1, 2018			June 25, 2017
	(In thousands)
Foreign currency derivatives	$	—		$	—		$	—		$	—
Total	$	—		$	—		$	—		$	—
	Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	July 1, 2018			June 25, 2017			July 1, 2018			June 25, 2017
	(In thousands)
Foreign currency derivatives	$	222		$	(116	)	$	472		$	(67	)
Total	$	222		$	(116	)	$	472		$	(67	)