DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 29, 2026

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, 2026			December 28, 2025
	(In thousands)
Fair values:
Commodity derivative assets	$	12,788		$	9,509
Commodity derivative liabilities	(8,132)			(1,343)
Foreign currency derivative assets	217			95
Foreign currency derivative liabilities	(43)			(205)
Sales contract derivative liabilities	(2,397)			(2,639)
Margin cash payable(a)	(688)			(3,886)
Derivatives coverage(b):
Corn	13.0		%	11.6		%
Soybean meal	13.6		%	13.8		%
Period through which stated percent of needs are covered:
Corn	March 2027			December 2026
Soybean meal	March 2027			December 2026

(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 Derivative Gain (Loss)

The following table presents the gains and losses of each derivative instrument held by the Company not designated or qualifying as hedging instruments:

	Three Months Ended
Type of Contract (a)	March 29, 2026		March 30, 2025		Affected Line Item in the Condensed Consolidated Statements of Income
Commodity derivatives	$	2,012	$	(7,185)	Cost of sales
Sales contract derivatives	242		2,430		Net sales
Total	$	2,254	$	(4,755)

(a)Amounts represent income (expenses) related to results of operations.

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:

	Gains (Losses) Recognized in Other Comprehensive Income (Loss)
	Three Months Ended
	March 29, 2026		March 30, 2025
Foreign currency derivatives	$	619	$	1,673

Schedule of Derivatives Line Item in Condensed Consolidated Statements of Income

	Gains (Losses) Reclassified from AOCI into Income
	Three Months Ended March 29, 2026				Three Months Ended March 30, 2025
	Net sales(a)		Cost of sales(b)		Net sales(a)		Cost of sales(b)
	(In thousands)
Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded	$	4,532,633	$	4,188,592	$	4,463,009	$	3,908,136
Impact from cash flow hedging instruments:
Foreign currency derivatives	139		(27)		(3)		(13)

(a)    Amounts represent income (expenses) related to net sales.

(b)    Amounts represent expenses (income) related to cost of sales.