v3.25.4
Inventories
3 Months Ended
Dec. 27, 2025
Inventory Disclosure [Abstract]  
Inventories INVENTORIES
Processed products, livestock and supplies and other are valued at the lower of cost or net realizable value. Cost includes purchased raw materials, live purchase costs, livestock growout costs (primarily feed, livestock grower pay and catch and haul costs), labor and manufacturing and production overhead, which are related to the purchase and production of inventories. At December 27, 2025, the cost of inventories was determined by either the first-in, first-out method or the weighted-average method, which is consistent with the methods used at September 27, 2025. Inventories are presented net of lower of cost or net realizable value adjustments of $166 million and $138 million as of December 27, 2025 and September 27, 2025, respectively.
The following table reflects the major components of inventory (in millions):
December 27, 2025September 27, 2025
Processed products$2,853 $3,086 
Livestock1,676 1,729 
Supplies and other877 866 
Total inventory$5,406 $5,681