SEC Filing | Pilgrim's Pride Corporation

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form 8_k

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 10, 2004

PILGRIM'S PRIDE CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-9273	75-1285071
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

110 South Texas Street
Pittsburg, Texas	75686-0093
(Address of Principal Executive Offices)	(ZIP Code)

Registrant's telephone number, including area code: (903) 855-1000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

q	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

q	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

q	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

q	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Item 7.01		Regulation FD Disclosure

Attached hereto as Exhibit 99.1 is certain supplemental historical financial information of Pilgrim’s Pride Corporation.


Exhibit Number		Description

99.1		Supplemental Historical Financial Information

Signature

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


PILGRIM’S PRIDE CORPORATION

Date: November 10, 2004.



By:		/s/ Richard A. Cogdill

		Richard A. Cogdill Executive Vice President, Chief Financial Officer, Secretary and Treasurer

Exhibit Index


Exhibit Number		Description

99.1		Supplemental Historical Financial Information

ex99_1


Net Sales by Primary Market Line  
for Quarter Ended:  
   
The following table sets forth net sales attributable to each of our primary product lines and mark
ets served with those products. We based the table on our internal sales reports and their classification of product types and customers. The information in these tables should be read in conjunction with the information in our SEC filings, including the discussion of our primary product lines and markets served with those products included in our most recent Annual Report on Form 10-K.  
 

      Oct,2   
      2004(a)  
Chicken Sales:        
United States        
Prepared Foods:        
Foodservice   $ 
457,159  
Retail   $ 56,560  
Total Prepared Foods   $ 513,720  
         
Fresh Chicken:        
Foodservice   $ 387,126  
Retail   $ 181,766
 
Total Fresh Chicken   $ 568,891  
Export and Other        
Prepared Foods   $ 8,497  
Chicken-Other   $ 61,357  
Total Export and Other   $ 69,854  
Total U.S. Chicken   $ 1,152,465  
         
Mexico:
  $ 93,798  
Total Chicken Sales   $ 1,246,262  
         
Total Prepared Foods     522,216  
         
Turkey Sales:        
Prepared Foods:        
Foodservice   $ 18,610  
Retail   $ 10,008  
Total Prepared Foods   $ 28,618  
         
Fresh Turkey:        
Foodservice   $ 12,061  
Retail   $ 28,298  
Total Fresh Turkey   $ 40,360  
Export and Other        
Prepared Foods   $ 368  
Turkey-Other   $ 3,187  
Total Export and Other   $ 3,555  
         
Total Turkey Sales   $ 72,533  
         
Total Prepared Foods   $ 28,986  
         
Sale of Other Products   &
nbsp;    
U.S.   $ 162,155  
Mexico   $ 5,503  
Total Other Products   $ 167,659  
Total Net Sales   $ 1,486,454  
 

(a) The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date.  
 
<
TD style="BORDER-BOTTOM: medium none" vAlign=bottom align=middle width="85%"> 
    October 2,   
      2004 (a)  
         
Chicken Sales:        
U.S. Chicken Sales:        
Prepared Foods:        
Foodservice     39.7 %
Retail     4.9 %
Total Prepared Foods     44.6 %
         
Fresh Chicken:        
Foodservice     33.6 %
Retail     15.8 %
Total Fresh Chicken     49.4 %
Export and Other        
Prepared Foods     0.7 %
Chicken-Other     5.3 %
Total Export and Other     6.0 %
Total U.S. Chicken     100.0 %
         
         
         
Turkey Sales:        
U.S. Turkey Sales:        
Prepared Foods:        
Foodservice     25.7 %
Retail     13.8 %
Total Prepared Foods     39.5 %

         
Fresh Turkey:        
Foodservice     16.6 %
Retail     
39.0 %
Total Fresh Turkey     55.6 %
Export and Other        
Prepared Foods     0.5 %
Turkey-Other     4.4 %
Total Export and Other     4.9 %
Total U.S. Turkey     100.0 %

(a) The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the ac
quisition date.

Pilgrim's Pride Corporation
Net Sales by Primary Market Line
for Fiscal Years ended:

The following table sets forth net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of product types and customers. The information in these tables should be read in conjunction with the information in our SEC filings, including the discussion of our primary product lines and markets served with those products included in our most recent Annual Report on Form 10-K.

		Oct 2,
		2004 (a)(b)


Chicken Sales:
United States
Prepared Foods:
Foodservice	$	1,641,901
Retail		213,775
Total Prepared Foods		1,855,676

Fresh Chicken:
Foodservice		1,328,885
Retail		653,799
Total Fresh Chicken		1,982,684

Export and Other
Prepared Foods		34,735
Chicken-Other		212,611
Total Export and Other		247,346
Total U.S. Chicken		4,085,706

Mexico:		362,442
Total Chicken Sales		4,448,148

Total Prepared Foods		1,890,411


Turkey Sales:
Prepared Foods:
Foodservice		80,927
Retail		37,384
Total Prepared Foods		118,311

Fresh Turkey:
Foodservice		39,749
Retail		116,906
Total Fresh Turkey		156,655
Export and Other
Prepared Foods		1,949
Turkey-Other		9,338
Total Export and Other		11,287
Total Turkey Sales		286,253

Total Prepared Foods		120,260

Sales of Other Products
U.S.		606,090
Mexico		23,232
Total Sale of Other Products		629,322
Total Net Sales	$	5,363,723

(a) The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date.

(b) Fiscal 2004 had 53 weeks.

	Oct 2,
	2004 (a)(b)


U.S. Chicken Sales:
Prepared Foods:
Foodservice	40.2	%
Retail	5.2	%
Total Prepared Foods	45.4	%

Fresh Chicken:
Foodservice	32.5	%
Retail	16.0	%
Total Fresh Chicken	48.5	%

Export and Other
Prepared Foods	0.9	%
Fresh	5.2	%
Total Export and Other	6.1	%
Total U.S. Chicken	100.0	%

Prepared Foods	46.3	%


U.S. Turkey Sales:
Prepared Foods:
Foodservice	28.2	%
Retail	13.1	%
Total Prepared Foods	41.3	%

Fresh Turkey:
Foodservice	13.9	%
Retail	40.8	%
Total Fresh Turkey	54.7	%
Export and Other
Prepared Foods	0.7	%
Fresh	3.3	%
Total Export and Other	4.0	%
Total U.S. Turkey	100.0	%

Prepared Foods	42.0	%

(a) The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date.

(b) Fiscal 2004 had 53 weeks.

Pilgrim's Pride Corporation
Sales Segments
for quarter ended:


Since the Acquisition of WLR Foods on January 27, 2001, we operate in two reportable business segments as (1) a producer of chicken and other products and (2) a producer of turkey products.

Our chicken and other products segment includes sales of chicken and sales of other products we produce and purchase for resale in the United States and Mexico. Our chicken and other products segment conducts separate operations in the United States and Mexico and is reported as two separate geographical areas. Our turkey segment includes sales of turkey products produced in our turkey operation recently acquired from WLR Foods, whose operations are exclusively in the United States.
Inter-area sales and inter-segment sales, which are not material, are accounted for at prices comparable to normal trade customer sales. Fixed assets by segment and geographic area are those assets which are used in our operations in each segment or area. Corporate assets are included with chicken and other products. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

		Quarter ended
		10/2/2004
Net Sales to Customers:		(In thousands	)
Chicken and Other Products:
United States	$	1,314,620
Mexico		99,301
Sub-total		1,413,921
Turkey		72,680
Total	$	1,486,454

Operating Income:
Chicken and Other Products:
United States	$	146,049
Mexico		555
Sub-total		146,604
Turkey (a)		(39,247	)
Non-recurring recoveries		23,815
Total	$	131,172

Depreciation and Amortization: (b)
Chicken and Other Products:
United States	$	21,393
Mexico		3,054
Sub-total		24,447
Turkey		1,040
Total	$	25,487

Total Assets:
Chicken and Other Products:
United States	$	1,856,709
Mexico		276,685
Sub-total		2,133,394
Turkey		126,077
Total	$	2,259,471

Capital Expenditures:
Chicken and Other Products:
United States	$	19,655
Mexico	$	2,773
Sub-total		22,428
Turkey	$	1,377
Total	$	23,805

(a) Includes Turkey Restructuring Provision of $63.9 million for the three months ended October 2, 2004.

(b) Includes amortization of capitalized financing costs of approximately

535

Pilgrim's Pride Corporation
Sales Segments
for fiscal year ended:


Since the Acquisition of WLR Foods on January 27, 2001, we operate in two reportable business segments as (1) a producer of chicken and other products and (2) a producer of turkey products.



Our chicken and other products segment includes sales of chicken and sales of other products we produce and purchase for resale in the United States and Mexico. Our chicken and other products segment conducts separate operations in the United States and Mexico and is reported as two seprarate geographical areas. Our turkey segment includes sales of turkey products produced in our turkey operation recently acquired from WLR Foods, whose operations are exclusively in the United States.
Inter-area sales and inter-segment sales, which are not material, are accounted for at prices comparable to normal trade customer sales. Fixed assets by segment and geographic area are those assets which are used in our operations in each segment or area. Corporate assets are included with chicken and other products. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

		10/2/2004 (a) (c)


Net Sales to Customers:
Chicken and Other Products:
United States	$	4,691,796
Mexico		385,674
Sub-total		5,077,470
Turkey		286,253
Total	$	5,363,723

Operating Income:
Chicken and Other Products:
United States	$	384,772
Mexico		(3,586	)
Sub-total		381,186
Turkey (b)		(144,469	)
Non-recurring recoveries		23,891
Total	$	260,608

Depreciation and Amortization: (d)
Chicken and Other Products:
United States	$	94,540
Mexico		12,361
Sub-total		106,901
Turkey		6,887
Total	$	113,788

Total Assets:
Chicken and Other Products:
United States	$	1,856,709
Mexico		276,685
Sub-total		2,133,394
Turkey		126,077
Total	$	2,259,471

Capital Expenditures:
Chicken and Other Products:
United States	$	62,828
Mexico		8,663
Sub-total		71,491
Turkey		8,151
Total	$	79,642

(a) The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date.

(b) Includes $72.1 million in restructuring and related charges for fiscal year ended 10/02./2004.

(c) Fiscal years 2004 and 1999 had 53 weeks.

(d) Includes amortization of capitalized financing costs of approximately

1,951

Pilgrim's Pride Corporation
Statistical Management Discussion and Analysis
for quarter ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.


		10/02/04
United States
Chicken Operations:
U.S. Chicken Sales (000's)	$	1,152,465
U.S. Chicken Sales divided by U.S.Chicken Net Pounds Produced	$	0.8126

U.S. Chicken Net Pounds Produced (000's)		1,418,228

Other Operations:
Other Sales (000's)		162,155

U.S. Chicken Sales & Other Sales Totals:
U.S. Chicken Sales & Other Sales (000's)		1,314,620

U.S. Chicken & Other Operating Income (000's)		146,048
U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales		11.11	%


Turkey

U.S. Turkey Sales (000's)		72,533
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.9524

U.S. Turkey Operating Income (000's) (a)		(39,247	)
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales		-54.11	%

U.S. Turkey Net Pounds Produced (000's)		76,158

U.S. Summary

U.S. Sales (000's)		1,387,153
U.S. Cost of Sales (000's)		1,204,413
U.S. Gross Margin (000's)		182,740
U.S. Gross Margin as a percent of U.S. Sales		13.17	%

U.S. Selling, General and Administrative Expenses (000's)		67,760
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales		4.88	%

Restructuring Provision - Turkey		8,178

U.S. Operating Income (000's) (a)		106,802
U.S. Operating Income as a percent of U.S. Sales		7.70	%

Mexico
Chicken Operations:
Mexico Chicken Sales (000's)		93,797
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced	$	0.5772

Mexico Other Operations:
Mexico Other Sales (000's)		5,504

Mexico Chicken and Other Operating Income (000's)		555
Mexico Operating Income as a percent of Mexico Sales		0.56	%

Mexico Net Pounds Produced (000's)		162,490

Consolidated Operations
Chicken Operations:
Chicken Sales from all Divisions (000's)		1,246,262
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions	$	0.7884

Chicken Net Pounds Produced from all Divisions (000's)		1,580,718

Other Operations:
Other Sales (000's)		167,659

Totals All Operations:
Total Net Sales (000's)		1,486,454
Total Cost of Sales (000's)		1,296,959
Gross Margin from all operations (000's)		189,495
Gross Margin from all operations as a percent of Total Net Sales		12.75	%

Total Selling, General and Administrative Expenses (000's)		73,960
Total Selling, General and Administrative Expenses as a percent of Total Net Sales		4.98	%

Restructuring Provision - Turkey		8,178

Operating Income from all operations (000's) (a)		107,357
Operating Income from all operations as a percent of Total Net Sales		7.22	%

Avian Influenza Reimbursement (000's)		23,815
Vitamin Settlements (000's)		-
Total Adjustments (000'S)		23,815

Consolidated Adjusted Chicken and Turkey Operating Income (000's)		131,172
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales		8.82	%

(a) Includes Turkey Restructuring Provision of $8.2 million in quarter ended 10/2/2004.

Pilgrim's Pride Corporation
Statistical Management Discussion and Analysis
for fiscal years ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition included in our SEC filings".

		10/2/2004 (a)(c)
United States
Chicken Operations:
U.S. Chicken Sales		4,085,705
U.S. Chicken Sales divided by U.S.Chicken Net Pounds Produced	$	0.8197

U.S. Chicken Net Pounds Produced (000's)		4,984,368

Other Operations:
Other Sales		606,091

U.S. Chicken Sales & Other Sales Totals:
U.S. Chicken Sales & Other Sales		4,691,796

U.S. Chicken & Other Operating Income		384,772
Operating Income as a percent of U.S. Chicken Sales		8.20	%


Turkey

U.S. Turkey Sales		286,253
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.7881

U.S. Turkey Operating Income (b)		(144,469	)
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales		-50.47	%


U.S. Turkey Net Pounds Produced		363,221

U.S. Summary

U.S. Sales		4,978,049
U.S. Cost of Sales		4,448,513
U.S. Gross Margin		529,536
U.S. Gross Margin as a percent of U.S. Sales		10.64	%

U.S. Selling, General and Administrative Expenses		217,150
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales		4.36	%

U.S. Operating Income (b)		240,303
U.S. Operating Income as a percent of U.S. Sales		4.83	%

Mexico
Chicken Operations:
Mexico Chicken Sales		362,442
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced	$	0.5594

Mexico Other Operations:
Mexico Other Sales		23,232

Mexico Chicken Operating Income		(3,586	)
Mexico Operating Income as a percent of Mexico Sales		-0.93	%


Mexico Net Pounds Produced		647,882

Consolidated Operations
Chicken Operations:
Chicken Sales from all Divisions		4,448,147
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions	$	0.7898

Chicken Net Pounds Produced from all Divisions		5,632,250

Other Operations:
Other Sales		629,323

Totals All Operations:
Total Net Sales		5,363,723
Total Cost of Sales		4,813,353
Gross Margin from all operations		550,370
Gross Margin from all operations as a percent of Total Net Sales		10.26	%

Total Selling, General and Administrative Expenses		241,570
Total Selling, General and Administrative Expenses as a percent of Total Net Sales		4.50	%

Restructuring Provision		64,160
Other Restructuring Costs		7,923

Operating Income from all operations (b)		236,717
Operating Income from all operations as a percent of Total Net Sales		4.41	%

Insurance Proceeds		23,815
Avian Influenza Reimbursement (000's)
Vitamin Settlements (000's)		76
Total Adjustments (000'S)		23,891

Consolidated Adjusted Chicken and Turkey Operating Income (000's)		260,608
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales		4.86	%

(b) Includes Turkey Restructuring and Related Charges of $72.1 million in fiscal year ended 10/2/2004.

Pilgrim's Pride Corporation
Proforma Statistical Management Discussion and Analysis
for quarters ended:

Our Statistical Management Discussion and Analysis data is derived from our financial statements and internal reports. Historical results should not be taken as necessarily indicative of the results that may be expected for any future period. You should read this financial data in conjunction with the appropriate period financial statements and the related notes and "Management's Discussion and Analysis of Results of Operations and Financial Condition" included in our SEC filings.

	1/3/2004 (a)(b)			09/27/03			06/28/03			03/29/03			12/28/02
United States
Chicken Operations:
U.S. Chicken Sales (000's)	$	1,108,430		$	979,178		$	898,102		$	849,090		$	836,773
U.S. Chicken Sales divided by U.S.Chicken Net Pounds Produced	$	0.8144		$	0.7289		$	0.6873		$	0.6826		$	0.6670

U.S. Chicken Net Pounds Produced (000's)		1,361,110			1,343,288			1,306,716			1,243,827			1,254,466

Other Operations:
Other Sales (000's)		209,793			175,042			186,929			173,857			195,638

U.S. Chicken Sales & Other Sales Totals:
U.S. Chicken Sales & Other Sales (000's)		1,318,223			1,154,220			1,085,031			1,022,947			1,032,411

U.S. Chicken & Other Operating Income (000's)		77,630			41,664			25,767			(9,867	)		25,319
U.S. Chicken & Other Operating Income as a percent of U.S. Chicken & Other Sales		5.89	%		3.61	%		2.37	%		-0.96	%		2.45	%


Turkey

U.S. Turkey Sales (000's)		93,324			76,603			72,289			62,407			94,379
U.S. Turkey Sales divided by U.S. Turkey Net Pounds Produced	$	0.8998		$	0.7753		$	0.6617		$	0.5672		$	0.9047

U.S. Turkey Operating Income (000's)		(15,760	)		(23,669	)		(19,726	)		(15,403	)		(14,268	)
U.S. Turkey Operating Income as a percent of U.S. Turkey Sales		-16.89	%		-30.90	%		-27.29	%		-24.68	%		-15.12	%


U.S. Turkey Net Pounds Produced (000's)		103,718			98,806			109,252			110,024			104,321

U.S. Summary

U.S. Sales (000's)		1,411,547			1,230,823			1,157,320			1,085,354			1,126,790
U.S. Cost of Sales (000's)		1,284,997			1,165,024			1,105,004			1,069,036			1,103,720
U.S. Gross Margin (000's)		126,550			65,799			52,316			16,318			23,070
U.S. Gross Margin as a percent of U.S. Sales		8.97	%		5.35	%		4.52	%		1.50	%		2.05	%

U.S. Selling, General and Administrative Expenses (000's)		59,628			24,447			28,622			51,290			45,830
U.S. Selling, General and Administrative Expenses as a percent of U.S Sales		4.22	%		1.99	%		2.47	%		4.73	%		4.07	%

U.S. Operating Income (000's)		66,922			41,352			23,694			(34,972	)		(22,760	)
U.S. Operating Income as a percent of U.S. Sales		4.74	%		3.36	%		2.05	%		-3.22	%		-2.02	%


Mexico
Chicken Operations:
Mexico Chicken Sales (000's)		88,970			82,366			88,600			90,247			88,092
Mexico Chicken Sales divided by Mexico Chicken Net Pounds Produced	$	0.5057		$	0.5331		$	0.6175		$	0.5759		$	0.5898

Mexico Other Operations:
Mexico Other Sales (000's)		4,642			4,424			5,321			2,644			6,377

Mexico Chicken and Other Operating Income (000's)		(5,446	)		(2,597	)		8,830			3,872			6,214
Mexico Operating Income as a percent of Mexico Sales		-5.82	%		-2.99	%		9.40	%		4.17	%		6.58	%


Mexico Net Pounds Produced (000's)		175,922			154,518			143,474			156,717			149,356

Consolidated Operations
Chicken Operations:
Chicken Sales from all Divisions (000's)		1,197,400			1,061,544			986,702			939,337			924,865
Chicken Sales from all divisions divided by Chicken Net Pounds Produced from all Divisions	$	0.7790		$	0.7087		$	0.6804		$	0.6707		$	0.6588

Chicken Net Pounds Produced from all Divisions (000's)		1,537,032			1,497,806			1,450,190			1,400,544			1,403,822

Other Operations:
Other Sales (000's)		214,435			179,466			192,250			176,501			202,015

Totals All Operations:
Total Net Sales (000's)		1,505,159			1,317,613			1,251,241			1,178,245			1,221,259
Total Cost of Sales (000's)		1,377,755			1,244,716			1,183,610			1,151,664			1,168,747
Gross Margin from all operations (000's)		127,404			72,897			67,631			26,581			52,512
Gross Margin from all operations as a percent of Total Net Sales		8.46	%		5.53	%		5.41	%		2.26	%		4.30	%

Total Selling, General and Administrative Expenses (000's)		71,082			57,498			52,760			57,681			58,228
Total Selling, General and Administrative Expenses as a percent of Total Net Sales		4.72	%		4.36	%		4.22	%		4.90	%		4.77	%

Operating Income from all operations (000's)		56,322			15,399			14,871			(31,100	)		(5,716	)
Operating Income from all operations as a percent of Total Net Sales		3.74	%		1.17	%		1.19	%		-2.64	%		-0.47	%

Avian Influenza Reimbursement (000's)		-			10,434			67			1,749			14,301
Vitamin Settlements (000's)		-			43			10,235			9,564			86
Total Adjustments (000'S)		-			10,477			10,302			11,313			14,387

Consolidated Adjusted Chicken and Turkey Operating Income (000's)		56,322			25,876			25,173			(19,787	)		8,671
Consolidated Adjusted Chicken and Turkey Income as a percent of Total Net Sales		3.74	%		1.96	%		2.01	%		-1.68	%		0.71	%


(a) The acquisition of the Conagra Chicken Division has been accounted for as a purchase, and the results of operations for this acquisition have been included in our consolidated results of operations since November 23, 2003, the acquisition date.

(b) 14 week Quarter.

		Oct,2
		2004(a)
Chicken Sales:
United States
Prepared Foods:
Foodservice	$	457,159
Retail	$	56,560
Total Prepared Foods	$	513,720

Fresh Chicken:
Foodservice	$	387,126
Retail	$	181,766
Total Fresh Chicken	$	568,891
Export and Other
Prepared Foods	$	8,497
Chicken-Other	$	61,357
Total Export and Other	$	69,854
Total U.S. Chicken	$	1,152,465

Mexico:	$	93,798
Total Chicken Sales	$	1,246,262

Total Prepared Foods		522,216

Turkey Sales:
Prepared Foods:
Foodservice	$	18,610
Retail	$	10,008
Total Prepared Foods	$	28,618

Fresh Turkey:
Foodservice	$	12,061
Retail	$	28,298
Total Fresh Turkey	$	40,360
Export and Other
Prepared Foods	$	368
Turkey-Other	$	3,187
Total Export and Other	$	3,555

Total Turkey Sales	$	72,533

Total Prepared Foods	$	28,986

Sale of Other Products	& nbsp;
U.S.	$	162,155
Mexico	$	5,503
Total Other Products	$	167,659
Total Net Sales	$	1,486,454

	October 2,
		2004 (a)

Chicken Sales:
U.S. Chicken Sales:
Prepared Foods:
Foodservice		39.7	%
Retail		4.9	%
Total Prepared Foods		44.6	%

Fresh Chicken:
Foodservice		33.6	%
Retail		15.8	%
Total Fresh Chicken		49.4	%
Export and Other
Prepared Foods		0.7	%
Chicken-Other		5.3	%
Total Export and Other		6.0	%
Total U.S. Chicken		100.0	%



Turkey Sales:
U.S. Turkey Sales:
Prepared Foods:
Foodservice		25.7	%
Retail		13.8	%
Total Prepared Foods		39.5	%

Fresh Turkey:
Foodservice		16.6	%
Retail		39.0	%
Total Fresh Turkey		55.6	%
Export and Other
Prepared Foods		0.5	%
Turkey-Other		4.4	%
Total Export and Other		4.9	%
Total U.S. Turkey		100.0	%