PILGRIM'S PRIDE CORPORATION AND SUBSIDIARIES
March 30, 1996



                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                                 FORM 10-Q

              QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF
                    THE SECURITIES EXCHANGE ACT OF 1934

For quarter ended    MARCH 30, 1996

Commission file number    1-9273

      PILGRIM'S PRIDE CORPORATION
(Exact name of registrant as specified in its charter)


             DELAWARE                    75-1285071
(State or other jurisdiction of         (I.R.S. Employer
incorporation or organization)          Identification No.)


  110 SOUTH TEXAS, PITTSBURG, TX          75686-0093
(Address of principal executive offices)      (Zip code)


                   (903) 855-1000
(Telephone number of principle executive offices)


                    NOT APPLICABLE
Former  name,  former address and former fiscal year, if changed since last
report.

Indicate by check  mark  whether  the  registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or  for  such  shorter periods that
the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days. Yes  X   No

Indicate the number of shares outstanding of each of the  issuer's  classes
of common stock, as of the latest practical date.

COMMON STOCK $.01     PAR VALUE--- 27,589,250     SHARES AS OF MAY 13, 1996


PART II
OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

10.41 Note Purchase  Agreement dated February 15, 1996, by and between John
      Hancock Mutual Life  Insurance Company, a Massachusetts corporation, and
      Pilgrim's Pride Corporation, a Delaware corporation.

10.42 Credit Agreement dated  as  of January 31, 1996 is entered into among
      Pilgrim's  Pride,  S.A.  de C.V., (the  "Borrower")  and  Internationale
      Nederlanden (U.S.) Capital  Corporation  (the "Lender"), Pilgrim's Pride
      Corporation (the"Company"), Avicola Pilgrim's  Pride  de Mexico, S.A. de
      C.V., (the "Parent"), Compania Incubadora Avicola Pilgrim's  Pride, S.A.
      de  C.V.,  Productora  Y  Distribuidora  de  Alimentos,  S.A.  de  C.V.,
      Immobiliaria  Avicola  Pilgrim's  Pride,  S.  De  R.L.  de C.V. and CIA.
      Incubadora Hidalgo, S.A. de C.V.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act  of  1934,  the
registrant  has  duly  caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                   PILGRIM'S PRIDE CORPORATION

Date    5/14/96                    Clifford E. Butler
                                   Vice Chairman of the Board,
                                   Chief Financial Officer and
                                   Secretary and Treasurer
                                   in his respective capacity
                                   as such