DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 29, 2019

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 brokers is included in the following table:

	September 29, 2019			December 30, 2018
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	6,865		$	2,263
Commodity derivative liabilities	(13,802		)	(4,791		)
Foreign currency derivative assets	913			1,311
Foreign currency derivative liabilities	(548		)	(6,649		)
Collateral posted with brokers(a)	26,950			23,192
Derivatives coverage(b):
Corn	9.0		%	6.0		%
Soybean meal	32.0		%	6.0		%
Period through which stated percent of needs are covered:
Corn	December 2020			March 2020
Soybean meal	May 2020			December 2019

(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 Loss on Derivative
	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	September 29, 2019			September 30, 2018			September 29, 2019			September 30, 2018
	(In thousands)
Foreign currency derivatives	$	(1,644	)	$	130		$	(1,257	)	$	33
Total	$	(1,644	)	$	130		$	(1,257	)	$	33
	Loss (Gain) Reclassified from AOCI into Income
	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	September 29, 2019			September 30, 2018			September 29, 2019			September 30, 2018
	(In thousands)
Foreign currency derivatives	$	247		$	(143	)	$	74		$	329
Total	$	247		$	(143	)	$	74		$	329