DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 24, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

 Information regarding the Company’s outstanding derivative instruments and cash collateral posted with (owed to) brokers is included in the following table:

	June 24, 2012			December 25, 2011
	(Fair values in thousands)
Fair values:
Commodity derivative assets	$	7,471		$	2,870
Commodity derivative liabilities		(1,353	)		(2,723	)
Cash collateral posted with (owed to) brokers		(1,682	)		3,271
Derivatives Coverage:
Corn		(a)			(a)
Soybean meal		1.6	%		(a)
Sorghum		50.6	%		n/a
Period through which stated percent of needs are covered:
Corn		(a)			(a)
Soybean meal		May2013			(a)
Sorghum		December2012			n/a
Written put options outstanding(b):
Fair value	$	2,348		$	(603	)
Number of contracts:
Corn		—			500
Sorghum		1,395			—
Expiration dates		December2012			March2012
Short positions on outstanding futures derivative instruments(b):
Fair value	$	2,643		$	495
Number of contracts:
Corn		1,286			2,531
Soybean meal		119			96

(a)

Derivatives coverage is the percent of anticipated corn and soybean meal needs covered by outstanding derivative instruments through a specified date. As of June24,2012, the Company's open short derivative positions for corn exceeded its long derivative positions. The Company will sometimes purchase short derivative instruments to offset negative price exposure on future fixed cash purchases. These positions expire by June2013.

(b)

A written put option is an option that the Company has sold that grants the holder the right, but not the obligation, to sell the underlying asset at a certain price for a specified period of time. When the Company takes a short position on a futures derivative instrument, it agrees to sell the underlying asset in the future at a price established on the contract date. The Company writes put options and takes short positions on futures derivative instruments to minimize the impact of feed ingredients price volatility on its operating results.