Inventories

9 Months Ended

Sep. 28, 2024

Inventories

Inventories

Note 3 – Inventories

The following is a summary of inventories:

	September 28,		December 31,
(Millions of dollars)	2024		2023
At lower of FIFO cost and net realizable value (“NRV”):
Hogs and materials	$	468	$	527
Pork products and materials		73		61
Grains, oilseeds and other commodities		362		366
Biofuels and related credits		148		160
Other		105		124
Total inventories at lower of FIFO cost and NRV		1,156		1,238
Grain, flour and feed at lower of weighted average cost and NRV		200		224
Total inventories	$	1,356	$	1,462