PAGE 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 3 )* PILGRIM'S PRIDE CORPORATION ____________________________________________________ (Name of Issuer) COMMON STOCK ____________________________________________________ (Title of Class of Securities) 721467-10-8 ______________________________________________ (CUSIP Number) D. J. Smith, Vice President, Secretary and General Counsel Archer-Daniels-Midland Company, 4666 Faries Parkway, P. O. Box 1470, Decatur, IL 62525, Telephone: (217)424-6183 ____________________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 13, 1997 ___________________________________________________ (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box __. Check the following box if a fee is being paid with the statement ___. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) Note: Six copies of this statement, including all exhibits, should be filed with the commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of Securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. This information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that Section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 PAGE 2 SCHEDULE 13D CUSIP NO. 721467-10-8 Page 2 of 3 Pages ____________________________________________________________ 1 NAME OF REPORTING PERSON S. S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Archer-Daniels-Midland Company I.R.S. Identification No. 41-0129150 ____________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *(a)__ (b)__ ____________________________________________________________ 3 SEC USE ONLY ____________________________________________________________ 4 SOURCE OF FUNDS * WC ____________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(E) _X _ See Appendix I ____________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE ____________________________________________________________ |7 SOLE VOTING POWER NUMBER OF | 1,086,382 SHARES |___________________________________________ BENEFICIALLY |8 SHARED VOTING POWER OWNED BY | -0- EACH |___________________________________________ REPORTING |9 SOLE DISPOSITIVE POWER PERSON | 1,086,382 WITH |___________________________________________ |10 SHARED DISPOSITIVE POWER | -0- ____________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,086,382 (See Appendix II) ____________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(11)EXCLUDES CERTAIN SHARES *__ ____________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.94% ____________________________________________________________ 14 TYPE OF REPORTING PERSON * CO ____________________________________________________________ * SEE INSTRUCTIONS BEFORE FILLING OUT! 2 PAGE 3 CUSIP NO. 721467-10-8 Page 3 of 3 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct. Dated: August 13, 1997 ARCHER-DANIELS-MIDLAND COMPANY /s/ D. J. SMITH By: D. J. Smith Its Vice President, Secretary and General Counsel 3 PAGE 4 APPENDIX I On October 15, 1996, the Company pled guilty to a two count information in the Northern District of Illinois pursuant to an agreement with the Department of Justice. This information states that the Company engaged in anticompetitive conduct in connection with the sale of lysine and citric acid. In connection with its agreement the Company has paid the United States a fine of $70 million with respect to lysine and $30 million with respect to citric acid. 4 PAGE 5 APPENDIX II TRANSACTIONS IN THE PAST SIXTY DAYS NO. OF PRICE IDENTITY OF PERSON DATE SECURITIES PER SHARE Archer-Daniels-Midland Company 08/13/97 675,000 $11.6250 5