DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 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:

	December 27, 2020			December 29, 2019
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	24,059		$	5,053
Commodity derivative liabilities	(6,531)			(5,430)
Foreign currency derivative assets	2,204			426
Foreign currency derivative liabilities	(428)			(5,400)
Interest rate swap derivative liabilities	(640)			—
Cash collateral posted with brokers(a)	782			20,009
Derivatives Coverage(b):
Corn	16.0		%	12.0		%
Soybean meal	24.0		%	44.0		%
Period through which stated percent of needs are covered:
Corn	December 2021			December 2020
Soybean meal	December 2021			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 (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Loss on Derivative
	December 27, 2020		December 29, 2019		December 30, 2018
Foreign currency derivatives	$	4,514	$	(2,052)	$	829
Interest rate swap derivatives	(850)		—		—
Total	$	3,664	$	(2,052)	$	829
	Gain (Loss) Reclassified from AOCI into Income
	December 27, 2020		December 29, 2019		December 30, 2018
Foreign currency derivatives	$	2,873	$	(383)	$	(348)
Interest rate swap derivatives	(209)		—		—
Total	$	2,664	$	(383)	$	(348)