<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>q201.txt
<DESCRIPTION>2ND QUARTER 2001 10-Q
<TEXT>



                             UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                               FORM 10-Q


  (Mark One)

   X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934

             For the quarterly period ended June 30, 2001

                                  OR

       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934

  For the transition period from            to

  Commission File Number 1-3390

                        Seaboard Corporation
       (Exact name of registrant as specified in its charter)

    Delaware                                          04-2260388
  (State or other jurisdiction of      (I.R.S. Employer Identification No.)
   incorporation or organization)

  9000 W. 67th Street, Shawnee Mission, Kansas                  66202
  (Address of principal executive offices)                   (Zip Code)

  (Registrant's telephone number, including area code)    (913) 676-8800

                           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 period 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   .


       There were 1,487,520 shares of common stock, $1.00 par value
  per share, outstanding on July, 27, 2001.

                                   Total pages in filing - 18 pages


                    PART I - FINANCIAL INFORMATION

  Item 1. Financial Statements


                 SEABOARD CORPORATION AND SUBSIDIARIES
                 Condensed Consolidated Balance Sheets
                  June 30, 2001 and December 31, 2000
                        (Thousands of dollars)

                                                   (Unaudited)
                                                    June 30,    December 31,
                                                      2001         2000
                                Assets
Current assets:
  Cash and cash equivalents                        $ 14,933       $ 19,760
  Short-term investments                            132,336         91,375
  Receivables, net                                  212,814        243,643
  Inventories                                       208,976        218,030
  Deferred income taxes                              15,369         14,132
  Prepaid expenses and other                         33,404         23,760
       Total current assets                         617,832        610,700
Investments in and advances to foreign affiliates    61,920         63,302
Net property, plant and equipment                   607,622        611,361
Other assets                                         29,572         27,485
       Total assets                              $1,316,946     $1,312,848

                 Liabilities and Stockholders' Equity
Current liabilities:
  Notes payable to banks                         $   46,287     $   80,480
  Current maturities of long-term debt               33,612         34,487
  Accounts payable                                   50,096         59,181
  Other current liabilities                         160,367        144,254
  Total current liabilities                         290,362        318,402
Long-term debt, less current maturities             310,386        312,418
Deferred income taxes                               110,281        107,833
Other liabilities                                    31,956         33,464
  Total non-current and deferred liabilities        452,623        453,715
Minority interest                                        62             46
Stockholders' equity:
  Common stock of $1 par value,
       Authorized 4,000,000 shares;
       issued 1,789,599 shares                        1,790          1,790
  Less 302,079 shares held in treasury                 (302)          (302)
                                                      1,488          1,488
  Additional capital                                 13,214         13,214
  Accumulated other comprehensive loss               (5,282)          (106)
  Retained earnings                                 564,479        526,089
       Total stockholders' equity                   573,899        540,685
Total liabilities and stockholders' equity      $ 1,316,946     $1,312,848

       See notes to condensed consolidated financial statements.


                 SEABOARD CORPORATION AND SUBSIDIARIES
             Condensed Consolidated Statements of Earnings
               Three months ended June 30, 2001 and 2000
            (Thousands of dollars except per share amounts)
                              (Unaudited)


                                              June 30,     June 30,
                                                2001         2000

Net sales                                   $  468,513   $  393,917
Cost of sales and operating expenses           398,720      350,140
  Gross income                                  69,793       43,777
Selling, general and administrative expenses    30,153       31,549
  Operating income                              39,640       12,228
Other income (expense):
  Interest income                                2,213        3,166
  Interest expense                              (7,184)      (8,091)
  Loss from foreign affiliates                  (2,423)        (793)
  Minority interest                                 11          222
   Gain on disposition of business              18,745            -
  Miscellaneous                                  1,687        3,083
  Total other income (expense), net             13,049       (2,413)
Earnings before income taxes                    52,689        9,815
Income tax expense                             (21,170)      (4,331)
Net earnings                                $   31,519   $    5,484

Earnings per common share                   $    21.19   $     3.68
Dividends declared per common share         $      .25   $      .25
Average number of shares outstanding         1,487,520    1,487,520

          See notes to condensed consolidated financial statements.


                 SEABOARD CORPORATION AND SUBSIDIARIES
             Condensed Consolidated Statements of Earnings
                Six months ended June 30, 2001 and 2000
            (Thousands of dollars except per share amounts)
                              (Unaudited)


                                              June 30,     June 30,
                                                2001         2000

Net sales                                   $  903,773   $  763,724
Cost of sales and operating expenses           785,181      674,502
  Gross income                                 118,592       89,222
Selling, general and administrative expenses    60,916       58,959
  Operating income                              57,676       30,263
Other income (expense):
  Interest income                                4,522        7,518
  Interest expense                             (15,111)     (17,377)
  Loss from foreign affiliates                  (3,046)      (1,382)
  Minority interest                                (16)         488
  Gain on disposition of business               18,745            -
  Miscellaneous                                  2,459        7,128
  Total other income (expense), net              7,553       (3,625)
Earnings from continuing operations
 before income taxes                            65,229       26,638
Income tax expense                             (26,095)     (11,295)
Earnings from continuing operations             39,134       15,343
Gain on disposal of discontinued operations,
 net of income taxes of $56,560                      -       91,172
Net earnings                                $   39,134     $106,515

Earnings per common share
 from continuing operations                 $    26.31        10.31
Earnings per common share
 from discontinued operations                        -        61.29
Earnings per common share                   $    26.31   $    71.60
Dividends declared per common share         $      .50   $      .50
Average number of shares outstanding         1,487,520    1,487,520


          See notes to condensed consolidated financial statements.


                 SEABOARD CORPORATION AND SUBSIDIARIES
            Condensed Consolidated Statements of Cash Flows
                Six months ended June 30, 2001 and 2000
                        (Thousands of dollars)
                              (Unaudited)


                                                      June 30,     June 30,
                                                        2001         2000

Cash flows from operating activities:
  Net earnings                                      $  39,134    $ 106,515
  Adjustments to reconcile net earnings to
   cash from operating activities:
      Net gain on disposal of discontinued operations       -      (91,172)
      Depreciation and amortization                    27,492       23,404
      Loss from foreign affiliates                      3,046        1,382
      (Gain)loss from disposal of fixed assets          1,072         (565)
      Gain from recognition of deferred swap proceeds       -       (3,760)
      Gain on disposition of business                 (18,745)           -
      Deferred income taxes                             4,356       18,748
  Changes in current assets and liabilities
   (net of businesses acquired and disposed):
      Receivables, net of allowance                    30,829        2,730
      Inventories                                       9,054        5,103
      Prepaid expenses and other                       (9,644)      (1,186)
      Current liabilities exclusive of debt             7,028      (44,552)
  Other, net                                            4,512          546
            Net cash from operating activities         98,134       17,193

Cash flows from investing activities:
  Purchase of investments                            (333,302)    (990,907)
  Proceeds from the sale or maturity of investments   293,053      899,847
  Capital expenditures                                (27,428)     (53,485)
  Proceeds from sale of fixed assets                    2,391        3,979
  Investments in and advances to foreign affiliates    (2,198)      (7,306)
  Acquisition of businesses                                 -      (42,019)
  Proceeds from disposal of discontinued operations,
    net of cash expenditures                                -      356,107
            Net cash from investing activities        (67,484)     166,216

Cash flows from financing activities:
  Notes payable to bank, net                          (34,193)    (154,260)
  Principal payments of long-term debt                 (2,907)     (20,159)
  Dividends paid                                         (744)        (744)
  Bond construction fund                                2,367            -
            Net cash from financing activities        (35,477)    (175,163)

Net change in cash and cash equivalents                (4,827)       8,246

Cash and cash equivalents at beginning of year         19,760       11,039

Cash and cash equivalents at end of quarter         $  14,933    $  19,285

       See notes to condensed consolidated financial statements.


                        SEABOARD CORPORATION AND SUBSIDIARIES
         Notes to Condensed Consolidated Financial Statements


Note 1 - Accounting Policies and Basis of Presentation

The consolidated financial statements include the accounts of Seaboard
Corporation and its domestic and foreign subsidiaries (the "Company").
All  significant  intercompany balances  and  transactions  have  been
eliminated  in  consolidation.   The  Company's  investments  in  non-
controlled  affiliates are accounted for by the  equity  method.   The
unaudited  consolidated  financial  statements  should  be   read   in
conjunction with the consolidated financial statements of the  Company
for the year ended December 31, 2000 as filed in its Annual Report  on
Form 10-K.

The  accompanying unaudited consolidated financial statements  include
all  adjustments (consisting only of normal recurring accruals) which,
in the opinion of management, are necessary for a fair presentation of
financial position, results of operations and cash flows.  Results  of
operations  for  interim  periods are not  necessarily  indicative  of
results to be expected for a full year.

Effective  January 1, 2001, the Company adopted Statement of Financial
Accounting  Standards  (SFAS)  No.  133,  "Accounting  for  Derivative
Investments  and  Hedging  Activities," as  amended.   This  statement
requires that an entity recognize all derivatives as either assets  or
liabilities at their fair values.  Accounting for changes in the  fair
value  of  a  derivative depends on its designation and effectiveness.
For  derivatives that qualify as effective hedges, the change in  fair
value  has  no  net  impact on earnings until the  hedged  transaction
affects  earnings.  For derivatives that are not designated as hedging
instruments,  or for the ineffective portion of a hedging  instrument,
the change in fair value does affect current period net earnings.

The  Company,  from time-to-time, holds and issues certain  derivative
instruments  to manage various types of market risks from its  day-to-
day  operations.  These primarily include the following: i)  commodity
futures  and option contracts to manage risks of increasing prices  of
raw  materials  and  firm  sales  commitments,  ii)  foreign  currency
exchange  agreements to manage the foreign currency exchange  risk  on
certain  transactions  denominated in  foreign  currencies,  and  iii)
interest  rate exchange agreements to manage the risk of  fluctuations
in   interest  rates.   While  management  believes  each   of   these
instruments manage various market risks, only certain instruments  are
designated and accounted for as hedges under SFAS 133 as a  result  of
the  extensive  record keeping requirements of the provision.   During
the  first six months of 2001, the only instruments accounted  for  as
hedges under SFAS 133 included certain commodity contracts and foreign
currency exchange agreements within the Commodity Trading and  Milling
Segment.   These were accounted for as fair value hedges and  did  not
have a material impact on net earnings.

Adoption  of this statement resulted in adjustments primarily  to  the
Company's   balance  sheet  as  derivative  instruments  and   related
agreements   and  deferred  amounts  were  recorded  as   assets   and
liabilities  with  corresponding adjustments  to  Other  Comprehensive
Income or earnings.  The adoption resulted in a cumulative-effect-type
adjustment  increasing  Accumulated  Other  Comprehensive  Income   by
$1,353,000,  net  of related income taxes, as deferred  proceeds  from
previously   terminated   swap  agreements  were   reclassified   from
liabilities.  During fiscal 2001, $200,000 of this adjustment, net  of
related  income taxes, is expected to be recognized in earnings.   The
adoption  did not have a material impact on the Company's earnings  or
cash flows.


Note 2 - Comprehensive Income

Components of comprehensive income are summarized as follows:

                                  Three  Months Ended         Six Months Ended
                                       June 30,                   June 30,
(Thousands of dollars)               2001      2000            2001      2000

Net income                        $ 31,519  $  5,484         $39,134   $106,515
Other comprehensive income (loss)
  net of applicable taxes:
    Cumulative translation
     adjustment                       (326)       31            (326)        31
    Unrealized gain (loss) on
     investments                    (6,151)    1,338          (6,102)     2,019
   Change in deferred gain on
     swaps                             (51)        -           1,252          -
Total comprehensive income        $ 24,991  $  6,853         $33,958   $108,565

The  components of accumulated other comprehensive loss  for  the  six
months ended June 30, 2001 are as follows:

                                             Balance                  Balance
                                           December  31,   Period     June 30,
(Thousands   of   dollars)                    2000         Change      2001

Cumulative  translation adjustment         $  (155)       $  (326)    $  (481)
Unrealized  gain  (loss)  on  investments       49         (6,102)     (6,053)
Deferred   gain  on  swaps                       -          1,252       1,252
Accumulated other comprehensive loss       $  (106)       $(5,176)    $(5,282)


Note 3 - Inventories

The  following  is  a  summary of inventories at  June  30,  2001  and
December 31, 2000:

                                                 June 30,    December 31,
(Thousands of dollars)                             2001         2000

At lower of LIFO cost or market:
  Live hogs and related materials               $125,817      $117,699
   Dressed pork and related materials              7,998        10,995
                                                 133,815       128,694
  LIFO allowance                                  (4,186)         (326)
       Total inventories at lower of LIFO cost
       or market                                 129,629       128,368
At lower of FIFO cost or market:
  Grain, flour and feed                           39,325        42,534
  Sugar produced and in process                   19,491        24,454
  Crops in production and related materials        4,297         4,978
  Other                                           16,234        17,696
       Total inventories at lower of FIFO cost
       or market                                  79,347        89,662
       Total inventories                        $208,976      $218,030


Note 4 - Contingencies

In  August  2000, as a result of accounting errors and  irregularities
discovered  in  the  Produce Division's books and records,  management
restated  the  Company's financial statements for each  of  the  prior
periods  effected and filed a Form 10-K/A on August 28,  2000.   In  a
letter dated December 27, 2000, the Securities and Exchange Commission
(SEC)   notified   the  Company  that  it  is  conducting   a   formal
investigation of this matter to determine whether there have been  any
violations  of  the federal securities laws and issued a  subpoena  to
acquire certain documents from the Company.  Management is cooperating
with  the SEC's requests and believes the outcome of the investigation
will not have a material impact on the Company.

The   Company   owns  certain  partially  completed   hog   production
facilities,  having a net carrying value of $12,326,000  at  June  30,
2001.   The  Company  continues to seek, but  has  not  yet  received,
necessary operating and related permits.  If the Company is unable  to
obtain  such  permits, the carrying value of such  property  would  be
impaired.

The  Company  is  a defendant in a pending arbitration proceeding  and
related  litigation in Puerto Rico brought by the owner of a chartered
barge  and tug which were damaged by fire after delivery of the cargo.
Damages  of $47.6 million are alleged.  The Company received a  ruling
in  the  arbitration  proceeding  in its  favor  which  dismisses  the
principal  theory of recovery.  The ruling has been upheld on  appeal.
The  arbitration is likely to continue based on other legal  theories,
although the Company believes that it will have no responsibility  for
the loss.

The  majority  of  transactions  at the  Company's  Sugar  and  Citrus
operation in Argentina are denominated in Argentine Pesos.  As of June
30,  2001,  the Company has $153,206,000 in net assets denominated  in
Argentine Pesos.  Over the past several years, the Argentine Peso  has
been pegged to the U.S. dollar and accordingly, there has been minimal
exchange  rate  risk.   However,  deterioration  of  the  economy   in
Argentina   increases  the  risk  that  there  could  be  a   currency
devaluation.   Management is closely monitoring the situation  but  is
currently  unable  to  predict the probability  or  magnitude  of  any
devaluation.  However, a substantial devaluation of the Argentine Peso
could have a material adverse affect on the financial position of  the
Company.

The  Company is subject to various other legal proceedings related  to
the  normal  conduct of its business.  In the opinion  of  management,
none  of  these actions is expected to result in a judgment  having  a
materially adverse effect on the consolidated financial statements  of
the Company.


Note 5 - Segment Information

The  following  tables set forth specific financial information  about
each  segment  as  reviewed  by the Company's  management.   Operating
income  for  segment reporting is prepared on the same basis  as  that
used  for consolidated operating income.  Operating income is used  as
the  measure of evaluating segment performance because management does
not consider interest and income tax expense on a segment basis.

In December 2000 the Company exchanged its controlling interest in its
Wine segment and a cash investment for a non-controlling interest in a
larger wine operation to be accounted for using the equity method.  As
a  result,  the Company's segment disclosures do not reflect operating
results for the Wine segment in 2001.

As  a  result  of recent operating losses at the Company's  Sugar  and
Citrus   segment,   at  year-end  2000  the  Company   evaluated   the
recoverability of this segment's long-lived assets and determined that
the  value of those assets was presently recoverable. Recent operating
losses  were  primarily  the result of sugar prices  below  historical
levels.   Sugar  prices have improved during the first six  months  of
2001  resulting in operating income for this segment.  However, should
sugar  prices  return  to levels resulting in  operating  losses,  the
recoverability of this segment's long-lived assets would again need to
be  evaluated which could result in a material charge to earnings  for
the impairment of these assets.

Within  the  Commodity  Trading  and  Milling  Division,  the  Company
evaluated  the recoverability of the long-lived assets of its  Zambian
milling operation at year-end 2000 due to its recent operating  losses
and  determined  the value of those assets was presently  recoverable.
For  the first six months of 2001, this operation has been profitable.
However,  should  this  business incur future  operating  losses,  the
recoverability of the long-lived assets of this business  would  again
need  to  be  evaluated  which could result in a  material  charge  to
earnings for the impairment of these assets.  Total long-lived  assets
of this business are $6,874,000 at June 30, 2001.


Sales to External Customers
                                Three  Months Ended          Six Months Ended
                                     June 30,                    June 30,
(Thousands of dollars)             2001      2000             2001      2000

Pork                             $211,103  $188,277         $392,997  $371,819
Marine                             96,663    87,633          186,554   164,484
Commodity Trading and Milling     121,046    86,678          237,275   166,528
Sugar and Citrus                   16,841    14,792           37,218    24,551
Power                              16,203     6,756           33,170    13,362
Wine                                    -     1,331                -     3,435
All Other                           6,657     8,450           16,559    19,545
 Segment/Consolidated Totals     $468,513  $393,917         $903,773  $763,724


Operating Income
                                Three  Months Ended          Six Months Ended
                                     June 30,                    June 30,
(Thousands of dollars)             2001      2000             2001      2000

Pork                             $ 25,476  $ 17,900         $ 37,302  $ 40,410
Marine                              6,379     3,058           11,032     2,534
Commodity Trading and Milling       4,152       (45)           4,476       876
Sugar and Citrus                    2,156    (1,132)           3,178    (3,800)
Power                               3,920     1,601            7,213     2,988
Wine                                    -    (1,504)               -    (3,399)
All Other                          (1,421)   (6,764)          (3,254)   (7,553)
 Segment Totals                    40,662    13,114           59,947    32,056
Corporate Items                    (1,022)     (886)          (2,271)   (1,793)
 Consolidated Totals             $ 39,640  $ 12,228         $ 57,676  $ 30,263


Total Assets
                                       June 30,     December 31,
(Thousands of dollars)                   2001           2000

Pork                                 $  506,307     $  510,836
Marine                                  119,765        121,895
Commodity Trading and Milling           175,544        197,751
Sugar and Citrus                        182,131        186,099
Power                                    81,538         88,514
All Other                                24,624         27,665
 Segment Totals                       1,089,909      1,132,760
Corporate Items                         227,037        180,088
 Consolidated Totals                 $1,316,946     $1,312,848

Administrative services provided by the corporate office are primarily
allocated  to the individual segments based on the size and nature  of
their  operations.   Corporate assets include short-term  investments,
certain  investments  in  and advances to  foreign  affiliates,  fixed
assets, deferred tax amounts and other miscellaneous items.  Corporate
operating  losses  represent certain operating costs not  specifically
allocated to individual segments.


Note 6 - Disposition of Business

The Company had a non-controlling interest in a joint venture in Maine
primarily engaged in the production and processing of salmon and other
seafood products previously accounted for under the equity method.  On
May  2, 2001, this joint venture completed a merger with Fjord Seafood
ASA  (Fjord), a large salmon operation in Norway.  The merger resulted
in  the Company exchanging its interest for 5,950,000 shares of common
stock of Fjord.  Based on the fair market value of Fjord stock on  May
2,  2001, as quoted on the Oslo Stock Exchange, the Company recognized
a gain in the second quarter of 2001 of $18,745,000 ($11,434,000 after
taxes)  related to this transaction.  As of June 30, 2001, the trading
price  of Fjord's stock had decreased resulting in a net comprehensive
loss of $6,086,000 (See Note 2).  The Company's ownership interest  in
Fjord  is  accounted for as a non-current available  for  sale  equity
security,  the  carrying value of which was $15,642,000  at  June  30,
2001.





Item 2. Management's  Discussion and Analysis of  Financial  Condition
        and Results of Operations


LIQUIDITY AND CAPITAL RESOURCES
                                 June 30,          December 31,
                                   2001                2000
Current ratio                     2.13:1              1.92:1
Working capital                   $327.5              $292.3

Cash  from operating activities for the six months ended June 30, 2001
increased $80.9 million compared to the same period one year  earlier.
The  increase  in  cash  flows was primarily  related  to  changes  in
components of working capital and, to a lesser extent, an increase  in
net  earnings  from continuing operations.  Changes in  components  of
working  capital,  net  of  businesses  acquired  and  disposed,   are
primarily  related  to  the timing of normal transactions  for  voyage
settlements,  trade  payables and receivables.  Within  the  Commodity
Trading  and  Milling segment, strong sales in the fourth  quarter  of
2000  and  subsequent related collections resulted in  a  decrease  in
receivable  balances  from year end.  In addition,  during  the  first
quarter  of  2001,  the  Company  collected  $7.0  million  in   notes
receivable  related to the 1998 sale of its baking and  flour  milling
operations in Puerto Rico.

Cash  from investing activities for the six months ended June 30, 2001
decreased $233.7 million compared to the same period one year earlier.
The decrease is primarily related to proceeds in the first quarter  of
2000  from  the  sale  of  discontinued poultry operations,  partially
offset  by  acquisitions, capital expenditures and  net  purchases  of
investments.

The  Company  invested $27.4 million in property, plant and  equipment
for  the  six  months ended June 30, 2001, of which $6.2  million  was
expended  in  the  Pork segment, $12.9 million in the Marine  segment,
$6.2 million in the Sugar and Citrus segment and $2.1 million in other
businesses of the Company.

The  Company  invested $6.2 million in the Pork segment primarily  for
the  expansion  of  existing  hog  production  facilities,  completing
construction  of  a  new feed mill and for improvements  to  the  pork
processing plant.  The Company plans to invest $7.8 million  over  the
next  six  months for continued expansion of hog production facilities
and general upgrades to the pork processing plant.  In March 2001, the
Company terminated previously announced plans to commence construction
in  2001  of  a  second  processing plant at a location  in  northeast
Kansas.   The  Company continues to explore alternatives  to  increase
processing capacity.

The Company invested $12.9 million in the Marine segment primarily for
the purchase of a previously chartered vessel and, to a lesser extent,
equipment.  The Company plans to invest $1.6 million over the next six
months for additional equipment.

The  Company  invested $6.2 million in the Sugar  and  Citrus  segment
primarily  for  improvements  to  existing  facilities  and  sugarcane
fields.   Over  the next six months, the Company anticipates  spending
$2.4 million for additional improvements.

Cash from financing activities for the six months ended June 30, 2001,
increased $139.7 million compared to the same period one year earlier.
This increase is primarily the result of an increase in repayments  of
notes  payable and industrial development revenue bonds in  the  first
six  months  of  2000, primarily with the proceeds  from  the  Poultry
Division sale.

In  the first quarter of 2001, the Company's one-year revolving credit
facilities  totaling $141.0 million maturing in the first  quarter  of
2001   were  extended  for  an  additional  year  and  the  short-term
uncommitted credit lines totaling $119.5 million were reduced to $89.5
million.   As  of  June  30,  2001,  the  Company  had  $25.0  million
outstanding  under  one-year  revolving credit  facilities  and  $21.3
million outstanding under short-term uncommitted credit lines.

Management intends to continue seeking opportunities for expansion  in
the  industries in which it operates and believes that  the  Company's
liquidity,  capital  resources  and  borrowing  capabilities  will  be
adequate for its current and intended operations.



RESULTS OF OPERATIONS

Net  sales  for the three and six months ended June 30, 2001 increased
$74.6  and $140.0 million, respectively, compared to the same  periods
one  year earlier.  Operating income for both the three and six months
ended June 30, 2001 increased $27.4, compared to the same periods  one
year earlier.

Pork Segment
                             Three Months Ended      Six Months Ended
                                June 30,                June 30,
(Dollars in millions)          2001      2000         2001      2000
Net sales                    $ 211.1     188.3      $ 393.0     371.8
Operating income             $  25.5      17.9      $  37.3      40.4

Net  sales  for  the Pork segment increased $22.8 and  $21.2  million,
respectively,  for  the  three and six  months  ended  June  30,  2001
compared to the same periods in 2000. These increases are primarily  a
result  of  higher pork prices.  Management believes pork prices  have
increased primarily as a result of the favorable industry relationship
of pork supplies and pork demand.

Operating  income  for  the Pork segment increased  $7.6  million  and
decreased  $3.1  million, respectively, for the three and  six  months
ended  June 30, 2001, compared to the same periods in 2000.  The three
month  period  increase is primarily the result of  a  more  favorable
sales  mix  and,  to a lesser extent, higher sales prices  during  the
quarter  as  discussed above partially offset by higher Company-raised
hog  costs.   The  decrease for the six-month period  is  primarily  a
result  of higher Company-raised hog costs, partially offset by higher
sales  prices  as  discussed above.  The cost of  Company-raised  hogs
increased  primarily as colder winter conditions  increased  feed  and
energy  usage  while feed and energy prices also increased  throughout
the  growing  period of the hogs processed during the  first  half  of
2001.   These cost increases contributed to a $3.9 million  charge  to
the  LIFO  inventory allowance in the first six months  of  2001  with
additional charges anticipated for the remaining half of 2001.   While
management  is  unable to predict future market prices,  it  currently
anticipates  overall market conditions during the  remainder  of  2001
will continue to be favorable.



Marine Segment
                             Three Months Ended      Six Months Ended
                                June 30,                June 30,
(Dollars in millions)          2001      2000         2001      2000
Net sales                   $   96.7      87.6      $ 186.6     164.5
Operating income            $    6.4       3.1      $  11.0       2.5

Net  sales  for  the Marine segment increased $9.1 and $22.1  million,
respectively,  for  the  three and six  months  ended  June  30,  2001
compared  to the same periods in 2000.  These increases resulted  from
an  increase  in  volumes, new services offered as  a  result  of  the
acquisition  of a cargo terminal facility at the Port  of  Houston  in
2000  and,  to a lesser extent, an increase in cargo rates.   Although
economic  uncertainties still exist in certain South American markets,
volumes  and  rates in these markets improved during 2001 compared  to
2000  although  partially  offset by a  decline  in  business  in  the
Caribbean Basin.

Operating  income  for  the Marine segment  increased  $3.3  and  $8.5
million,  respectively, for the three and six months  ended  June  30,
2001  compared to the same periods in 2000, primarily as a  result  of
improved   South   American  markets  discussed   above.    Management
anticipates  that  these market conditions will continue  through  the
remainder of 2001.


Commodity Trading and Milling Segment

                             Three Months Ended      Six Months Ended
                                June 30,                June 30,
(Dollars in millions)          2001      2000         2001      2000
Net sales                    $ 121.0      86.7      $ 237.3     166.5
Operating income             $   4.2       0.0      $   4.5       0.9

Net  sales  for  the  Commodity Trading and Milling segment  increased
$34.3  and  $70.8 million, respectively, for the three and six  months
ended  June  30,  2001  compared to the same  periods  in  2000.   The
increases are primarily a result of increased wheat and soybean  sales
to  third-parties  in  certain markets and, to  a  lesser  extent,  to
certain foreign affiliates.

Operating  income  for this segment increased $4.2 and  $3.6  million,
respectively,  for  the  three and six  months  ended  June  30,  2001
compared  to the same periods in 2000.  The increases are primarily  a
result   of  improvements  in  operating  certain  mills  in   foreign
countries, including Zambia being profitable, and, to a lesser extent,
increased  commodity sales noted above.  The current profitability  of
Zambia reduces the risk of impairment of related long-lived assets  as
discussed   in   Note  5  to  the  Condensed  Consolidated   Financial
Statements.   Due to the nature of this segment's operations  and  its
exposure  to  foreign  political situations, management  is  currently
unable to predict future sales and operating results.


Sugar and Citrus Segment
                             Three Months Ended      Six Months Ended
                                June 30,                June 30,
(Dollars in millions)          2001      2000         2001      2000
Net sales                    $  16.8      14.8      $  37.2      24.6
Operating income             $   2.2      (1.1)     $   3.2      (3.8)

Net  sales for the Sugar and Citrus segment increased $2.0 million and
$12.6  million, respectively, for the three and six months ended  June
30,  2001  compared to the same periods in 2000.  For the  three-month
period,  the  increase  is a result of higher sugar  prices  partially
offset by a decrease in sales volumes.  For the six-month period,  the
increase  is  a  result  of higher sales volumes  and  improved  sugar
prices.   Sales volumes increased primarily as a result of an increase
in the resale of sugar purchased from third-parties.

Operating  income  for this segment increased $3.3  million  and  $7.0
million,  respectively, for the three and six months  ended  June  30,
2001  compared to the same periods in 2000, primarily as a  result  of
increased  sales  volumes,  higher  sugar  prices  and  increases   in
production  efficiencies.  The current profitability of  this  segment
reduces  the  risk  of  impairment of  related  long-lived  assets  as
discussed   in   Note  5  to  the  Condensed  Consolidated   Financial
Statements.  While  management is unable to predict  sugar  prices  or
operating  results,  it  currently  anticipates  that  overall  market
conditions  for  the remainder of 2001 will continue to  be  favorable
unless  the  current  economic situation in  Argentina  causes  market
disruptions,  including  the potential of a  currency  devaluation  as
discussed   in   Note  4  to  the  Condensed  Consolidated   Financial
Statements.


Power Segment
                             Three Months Ended      Six Months Ended
                                June 30,              June 30,
(Dollars in millions)          2001      2000         2001      2000
Net sales                    $  16.2       6.8      $  33.2      13.4
Operating income             $   3.9       1.6      $   7.2       3.0

Net  sales  for  the  Power segment increased $9.4 million  and  $19.8
million,  respectively, for the three and six months  ended  June  30,
2001 compared to the same periods in 2000.  Operating income increased
$2.3  million  and $4.2 million, respectively, for the three  and  six
months ended June 30, 2001 compared to the same periods in 2000.   The
increases  are  primarily the result of a new  power  barge  beginning
operations in October 2000.  Operation of the new barge is expected to
continue  to  result  in improved results for  this  segment  for  the
remainder of 2001.


All Other
                             Three Months Ended      Six Months Ended
                                June 30,              June 30,
(Dollars in millions)          2001      2000         2001      2000
Net sales                    $   6.7       8.5      $  16.6      19.5
Operating income             $  (1.4)     (6.8)     $  (3.3)     (7.6)

Sales  decreased for all other businesses for the three and six months
ended  June 30, 2001, compared to the same periods in 2000 as a result
of  discontinuing the business of marketing fruits and  vegetables  as
discussed below.  Operating income from all other businesses  improved
for the three and six months ended June 30, 2001, compared to the same
periods  in  2000.  This improvement was primarily the result  of  the
Company  discontinuing the business of marketing fruits and vegetables
by  selling  certain assets of its Produce Division during  the  third
quarter of 2000.


Selling, General and Administrative Expenses

Selling,  general  and administrative (SG&A) expenses  decreased  $1.4
million  and increased $2.0 million, respectively, for the  three  and
six  months ended June 30, 2001 compared to the same periods in  2000.
The  decrease for the quarter is primarily the result of discontinuing
the  business  of  marketing  fruits and  vegetables  by  the  Produce
Division  in  the prior year as discussed above, partially  offset  by
increases  discussed below.  The increases are primarily a  result  of
increasing   service  and  support  functions  related  to   expanding
operations  in  the  Power, Sugar and Citrus,  Commodity  Trading  and
Milling,  and  Marine  Segments.  As a percentage  of  revenues,  SG&A
decreased  to  6.4% for the second quarter of 2001 from 8.0%  for  the
second  quarter of 2000.  For the six months ended June 30, 2001  SG&A
decreased to 6.7% from 7.7% for the same period in 2000 primarily  the
result of increased revenues in these same segments.


Interest Income

Interest income decreased $1.0 and $3.0 million, respectively, for the
three  and six months ended June 30, 2001 compared to the same periods
in  2000.  The decreases primarily reflect a decrease in average funds
invested.   Average funds invested were higher during  2000  primarily
from proceeds from the sale of the Poultry Division in January 2000.


Interest Expense

Interest  expense  decreased $0.9 and $2.3 million, respectively,  for
the  three  and six months ended June 30, 2001 compared  to  the  same
periods  in 2000.  The decreases are primarily a result of a  decrease
in short-term borrowings, partially offset by an increase in long-term
borrowings.  Short-term borrowings decreased primarily as a result  of
repaying short-term borrowings in the first quarter of 2000, primarily
with  proceeds from the Poultry Division sale, while average long-term
borrowings  increased  as  a  result  of  debt  assumed  with  certain
acquisitions in 2000.


Loss from Foreign Affiliates

Losses  from  foreign  affiliates increased  $1.6  and  $1.7  million,
respectively,  for  the  three and six  months  ended  June  30,  2001
compared  to the same periods in 2000.  These increases were primarily
due  to  the  Company  beginning to report operating  results  of  the
Company's  wine  investment using the equity  method  during  2001  as
discussed  in Note 5 and, to a lesser extent, from lower  earnings  at
certain milling operations in Africa.  As the Company reports the wine
investment  results on a three-month lag, operating results  for  only
three months are included for 2001.  The Company anticipates increased
losses  from foreign affiliates for the remainder of 2001 compared  to
2000.


Gain on Disposition of Business

During  the  second  quarter of 2001, the Company exchanged  its  non-
controlling interest in a joint venture for shares of common stock  in
Fjord  Seafood ASA resulting in a gain of $18.7 million ($11.4 million
after  taxes).   See  Note  6 to the Condensed Consolidated  Financial
Statements for further discussion.


Miscellaneous Income

Miscellaneous  income  decreased $1.4 and $4.7 million,  respectively,
for  the three and six months ended June 30, 2001 compared to the same
periods  in 2000.  These decreases are primarily from a $1.8 and  $3.8
million  gain for the three and six months, respectively, during  2000
from  the  recognition of unamortized proceeds from prior terminations
of  interest rate agreements associated with debt repaid during  2000,
as discussed above.


Gain on Disposal of Discontinued Operations

The  Company completed the sale of its Poultry Division on January  3,
2000,  recognizing  an  after-tax gain  on  disposal  of  discontinued
operations of $91.2 million during 2000, subsequently adjusted in  the
fourth quarter of 2000 to $90.0 million.



Item 3.   Quantitative and Qualitative Disclosures About Market Risk

The  Company is exposed to various types of market risks from its day-
to-day operations.  Primary market risk exposures result from changing
interest rates, commodity prices and foreign currency exchange  rates.
Changes in interest rates impact the cash required to service variable
rate debt.  From time to time, the Company uses interest rate swaps to
manage  risks  of  increasing interest rates.   Changes  in  commodity
prices  impact  the cost of necessary raw materials, finished  product
sales  and  firm  sales commitments.  The Company  uses  corn,  wheat,
soybeans and soybean meal futures and options to manage certain  risks
of  increasing  prices  of raw materials and firm  sales  commitments.
From  time  to time, the Company uses hog futures to manage  risks  of
increasing  prices of live hogs acquired for processing.   Changes  in
foreign  currency exchange rates impact the cash paid or  received  by
the  Company on foreign currency denominated receivables and payables.
The  Company manages certain of these risks through the use of foreign
currency  forward  exchange  agreements.  The  Company's  market  risk
exposure  related  to  these items has not  changed  materially  since
December 31, 2000, except with respect to transactions denominated  in
Argentine  Pesos as discussed in Note 4 to the Condensed  Consolidated
Financial Statements.


                         PART II - OTHER INFORMATION


Item 1.   Legal Proceedings

On  June  7, 2001, the United States Environmental Protection  Agency,
Region  6  ("EPA") filed an Emergency Administrative Order (the  "SDWA
Order"),  pursuant to Section 1431(a) of the Safe Drinking Water  Act,
42 U.S.C. Sec. 300i(a) (the "SDWA"), against the Company's subsidiary,
Seaboard Farms, Inc. ("Seaboard Farms"),  and PIC International Group,
Inc.  ("PIC")  (collectively, "Respondents").  The SDWA Order  alleges
that the Respondents have violated the SDWA, through the operation  of
five  swine facilities and the introduction of a contaminant (nitrate)
into  water  used  by  several residences  creating  an  imminent  and
substantial risk of harm to the persons drinking the water.  The  SDWA
Order  requires  the Respondents to provide drinking  water  to  three
residences  and  to  identify  potential  additional  wells  used  for
drinking water close to the facilities, to test the water in  each  of
the  additional wells for nitrate levels and to provide drinking water
to  any  additional residences, as required by EPA.  In the event  the
Respondents fail to comply with the SDWA Order, the EPA may commence a
civil  action and can seek a civil penalty of up to $15,000  per  day,
per violation. The swine operations are located in an area of Oklahoma
which historically (before the swine farms were constructed) has  high
nitrate levels.  The lagoons retaining effluent at the operations  are
lined  with 30 mil high density polyethylene plastic liners, and  land
application  of effluent for the purposes of fertilization  occurs  at
agronomic  rates  (according to soil conditions and crop  need).   The
Company does not believe the facilities are the source of the nitrates
in the wells; however, the Company is cooperating with EPA.

On  or  about July 20, 2001, Respondents filed an action in the United
States Court of Appeals for the Tenth Circuit petitioning the Court to
set  aside, declare invalid, and/or remand the SDWA Order for  further
proceedings on the basis that the SDWA Order is arbitrary, capricious,
an  abuse of discretion and otherwise not in accordance with  law  and
was issued without the observance of procedures required by law.

On June 29, 2001, the EPA filed a Unilateral Administrative Order (the
"RCRA  Order"), pursuant to Section 7003 of the Resource  Conservation
and  Recovery  Act, as amended, 42 U.S.C. Sec. 6973 ("RCRA"),  against
the same Respondents as those in the SDWA Order:  Seaboard Farms
and PIC.  The RCRA Order contains principally the same allegations  as
the  SDWA  Order  that  the  same five swine facility  operations  are
causing or could cause contamination of the groundwater and that as  a
result,  Respondents  have violated RCRA through  the  mishandling  of
solid  waste  in  the lagoons at the facilities which may  present  an
imminent  and  substantial endangerment to  human  health  and/or  the
environment.   The  RCRA  Order requires Respondents  to  develop  and
undertake  a  study  to determine if there has been any  contamination
from  the  lagoons and if there has been, to develop and  undertake  a
remedial  plan.  In the event the Respondents fail to comply with  the
RCRA  Order, the EPA may commence a civil action and can seek a  civil
penalty of up to $5,500 per day, per violation.

The  facilities which are the subject of the SDWA Order and  the  RCRA
Order  were  previously  owned by PIC.   PIC  is  presently  providing
indemnity and defense of the action reserving its right to contest the
obligation  to  provide the indemnity.  The Company does  not  believe
there  are  any  grounds  to  contest  providing  the  indemnity.  The
indemnity is subject to a $5,000,000 limit.



Item 6. Exhibits and Reports on Form 8-K

(a)  Exhibits

     2.1  Subscription Agreement by and between Seaboard  Corporation,
     Fjord   Seafood  ASA,  ContiSea,  LCC,  DRFF  Corp.,   ContiGroup
     Companies, Inc. and Sabroso AS, dated March 16, 2001.

(b)  Reports on Form 8-K

     Seaboard Corporation has not filed any reports on Form 8-K during
     the quarter ended June 30, 2001.

This  Form 10-Q contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, which include
statements concerning projection of revenues, income or loss,  capital
expenditures,  capital structure or other financial items,  statements
regarding   the  plans  and  objectives  of  management   for   future
operations,  statements of future economic performance, statements  of
the  assumptions  underlying  or relating  to  any  of  the  foregoing
statements  and  other statements which are other than  statements  of
historical  fact.  These statements appear in a number  of  places  in
this Form 10-Q and include statements regarding the intent, belief  or
current expectations of the Company and its management with respect to
(i)  the  cost  and  timing  of  the completion  of  new  or  expanded
facilities,  (ii) the Company's financing plans, (iii)  the  price  of
feed  stocks  and other materials used by the Company, (iv)  the  sale
price  for pork products from such operations, (v) the price  for  the
Company's  products and services, (vi) the effect the Company's  sugar
business  and foreign milling operations on the consolidated financial
statements  of  the  Company,  or (vii)  other  trends  affecting  the
Company's  financial condition or results of operations.  Readers  are
cautioned  that any such forward-looking statements are not guarantees
of  future performance and involve risks and uncertainties,  and  that
actual  results may differ materially as a result of various  factors.
The  accompanying information contained in this Form  10-Q  under  the
heading  "Management's Discussion and Analysis of Financial  Condition
and  Results  of Operations" identifies important factors which  could
cause such differences.







                              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.




                           DATE:  August 6, 2001

                           Seaboard Corporation


                           by:  /s/ Robert L. Steer
                               Robert L. Steer, Senior Vice
                               President, Treasurer, and Chief
                               Financial Officer



                           by:  /s/ John A. Virgo
                                  John A. Virgo, Corporate Controller


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