Exhibit 12.1

Hormel Foods Corporation

Computation of Ratio of Earnings to Fixed Charges

(in thousands, except ratio amounts)

	Fiscal Year Ended															Three Months Ended
	October 28, 2012			October 27, 2013			October 26, 2014			October 25, 2015			October 30, 2016			January 29, 2017
Earnings:
Earnings before income taxes	$	758,335		$	798,507		$	922,152		$	1,057,143		$	1,317,215		$	354,785
Less: Equity earnings of less than 50% owned equity investees	(38,691		)	(20,513		)	(17,585		)	(23,887		)	(38,685		)	(13,298		)
Add: Distributed income of equity investees	37,108			34,020			22,832			37,325			46,189			2,522
Add: Amortization of capitalized interest	205			205			205			205			205			51
Less: Noncontrolling interest	(4,911		)	(3,865		)	(3,349		)	(1,176		)	(465		)	(156		)
Total Earnings	752,046			808,354			924,255			1,069,610			1,324,459			343,904

Fixed charges:
Interest expense (1)	12,859			12,453			12,704			13,111			12,871			3,026
Estimated interest portion of rental expense	7,214			7,212			7,023			7,482			7,199			1,702
Total Fixed Charges	20,073			19,665			19,727			20,593			20,070			4,728

Earnings Available for Fixed Charges	$	772,119		$	828,019		$	943,982		$	1,090,203		$	1,344,529		$	348,632

Ratio of Earnings to Fixed Charges	38.5x			42.1x			47.9x			52.9x			67.0x			73.7x

(1) Includes interest on debt and amortization of debt issuance costs. Interest associated with income tax liabilities is excluded.