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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 27, 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:
September 27, 2020December 29, 2019
 (In thousands)
Fair values:
Commodity derivative assets$12,639 $5,053 
Commodity derivative liabilities(6,079)(5,430)
Foreign currency derivative assets7,919 426 
Foreign currency derivative liabilities(316)(5,400)
Interest rate swap derivative liabilities(780)— 
Cash collateral posted with brokers(a)
17,106 20,009 
Derivatives coverage(b):
Corn— %12.0 %
Soybean meal17.0 %44.0 %
Period through which stated percent of needs are covered:
CornNADecember 2020
Soybean mealJuly 2021July 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 EndedNine Months Ended
September 27, 2020September 29, 2019September 27, 2020September 29, 2019
(In thousands)
Foreign currency derivatives$1,388 $(1,644)$4,088 $(1,257)
Interest rate swap derivatives50 — (879)— 
Total$1,438 $(1,644)$3,209 $(1,257)
Gain (Loss) Reclassified from AOCI into Income
Three Months EndedNine Months Ended
September 27, 2020September 29, 2019September 27, 2020September 29, 2019
(In thousands)
Foreign currency derivatives$1,720 $247 $1,138 $74 
Interest rate swap derivatives(101)— (99)— 
Total$1,619 $247 $1,039 $74