DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 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 cash collateral posted with brokers is included in the following table:

	December 29, 2019			December 30, 2018
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	5,053		$	2,263
Commodity derivative liabilities	(5,430		)	(4,791		)
Foreign currency derivative assets	426			1,311
Foreign currency derivative liabilities	(5,400		)	(6,649		)
Cash collateral posted with brokers(a)	20,009			23,192
Derivatives Coverage(b):
Corn	12.0		%	6.0		%
Soybean meal	44.0		%	6.0		%
Period through which stated percent of needs are covered:
Corn	December 2020			March 2020
Soybean meal	July 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 (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Loss on Derivative (Effective Portion)
	December 29, 2019			December 30, 2018			December 31, 2017
Foreign currency derivatives	$	(2,052	)	$	829		$	60
Total	$	(2,052	)	$	829		$	60
	Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
	December 29, 2019			December 30, 2018			December 31, 2017
Foreign currency derivatives	$	383		$	(348	)	$	639
Total	$	383		$	(348	)	$	639