DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 29, 2020

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:

	March 29, 2020			December 29, 2019
	(In thousands)
Fair values:
Commodity derivative assets	$	12,544		$	5,053
Commodity derivative liabilities	(17,988)			(5,430)
Foreign currency derivative assets	12,053			426
Foreign currency derivative liabilities	(98)			(5,400)
Cash collateral posted with brokers(a)	25,234			20,009
Derivatives coverage(b):
Corn	16.0		%	12.0		%
Soybean meal	8.0		%	44.0		%
Period through which stated percent of needs are covered:
Corn	December 2020			December 2020
Soybean meal	December 2020			July 2020

(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
	Three Months Ended
	March 29, 2020		March 31, 2019
	(In thousands)
Foreign currency derivatives	$	4,123	$	(915)
Total	$	4,123	$	(915)
	Gain (Loss) Reclassified from AOCI into Income
	Three Months Ended
	March 29, 2020		March 31, 2019
	(In thousands)
Foreign currency derivatives	$	(742)	$	221
Total	$	(742)	$	221