<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>q-10.txt
<DESCRIPTION>1ST QTR 2002 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 March 30, 2002

                                  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 April 19, 2002.

                                   Total pages in filing - 18 pages


PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements

                 SEABOARD CORPORATION AND SUBSIDIARIES
                 Condensed Consolidated Balance Sheets
                         (Thousands of dollars)

                                                    (Unaudited)
                                                    March 30,    December 31,
                                                       2002         2001
                                Assets
Current assets:
  Cash and cash equivalents                       $   18,908   $   22,997
  Short-term investments                              92,268      126,795
  Receivables, net                                   196,281      187,416
  Inventories                                        204,767      205,345
  Deferred income taxes                               15,092       13,966
  Other current assets                                29,173       36,343
       Total current assets                          556,489      592,862
Investments in and advances to foreign affiliates     49,629       52,256
Net property, plant and equipment                    522,984      556,273
Other assets                                          38,175       34,201
       Total long-term assets                        610,788      642,730
       Total assets                               $1,167,277   $1,235,592

                 Liabilities and Stockholders' Equity
Current liabilities:
  Notes payable to banks                          $   40,712   $   37,703
  Current maturities of long-term debt                27,174       55,166
  Accounts payable                                    49,943       61,513
  Other current liabilities                          121,620      126,218
       Total current liabilities                     239,449      280,600
Long-term debt, less current maturities              252,719      255,819
Deferred income taxes                                136,216      131,957
Other liabilities                                     33,991       33,946
       Total non-current and deferred liabilities    422,926      421,722
Minority interest                                      6,246        6,067
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               (98,158)     (65,406)
  Retained earnings                                  582,112      577,907
       Total stockholders' equity                    498,656      527,203
Total liabilities and stockholders' equity        $1,167,277   $1,235,592

       See notes to condensed consolidated financial statements.


                 SEABOARD CORPORATION AND SUBSIDIARIES
             Condensed Consolidated Statements of Earnings
            (Thousands of dollars except per share amounts)
                              (Unaudited)

                                               Three Months Ended
                                             March 30,    March 31,
                                                2002         2001

Net sales                                   $  442,923   $  435,260
Cost of sales and operating expenses           399,837      386,461
  Gross income                                  43,086       48,799
Selling, general and administrative expenses    26,332       30,763
  Operating income                              16,754       18,036
Other income (expense):
  Interest expense                              (5,451)      (7,927)
  Interest income                                1,675        2,309
  Loss from foreign affiliates                  (2,091)        (623)
  Minority interest                               (177)         (27)
  Foreign currency loss, net                    (5,414)        (448)
  Miscellaneous, net                             1,308        1,220
  Total other income (expense), net            (10,150)      (5,496)
Earnings before income taxes                     6,604       12,540
Income tax expense                              (2,027)      (4,925)
Net earnings                                $    4,577   $    7,615

Earnings per common share                   $     3.08   $     5.12
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 Cash Flows
                        (Thousands of dollars)
                              (Unaudited)

                                                    Three Months Ended
                                                  March 30,    March 31,
                                                     2002         2001

Cash flows from operating activities:
  Net earnings                                    $  4,577    $   7,615
  Adjustments to reconcile net earnings to
    cash from operating activities:
      Depreciation and amortization                 12,849       13,640
       Loss from foreign affiliates                  2,091          623
      Foreign currency translation loss              4,979            -
       Deferred income taxes                         1,382        2,281
       Gain (loss) from sale of fixed assets            (6)       1,333
  Changes in current assets and liabilities:
       Receivables, net of allowance               (17,481)      19,394
       Inventories                                  (8,600)       1,443
       Other current assets                          6,969      (14,196)
       Current liabilities exclusive of debt       (11,988)       1,316
  Other, net                                         1,909        2,464
            Net cash from operating activities      (3,319)      35,913

Cash flows from investing activities:
  Purchase of investments                          (32,054)    (133,360)
  Proceeds from the sale or maturity of short-term
    investments                                     65,885      109,176
  Investments in and advances to foreign affiliates    375          (65)
  Capital expenditures                              (9,083)     (14,858)
  Other, net                                          (715)       1,017
            Net cash from investing activities      24,408      (38,090)

Cash flows from financing activities:
  Notes payable to bank, net                         3,009       (3,344)
  Principal payments of long-term debt             (27,607)        (880)
  Dividends paid                                      (372)        (372)
  Bond construction fund                               557        1,767
            Net cash from financing activities     (24,413)      (2,829)
Effect of exchange rate change on cash                (765)           -
Net change in cash and cash equivalents             (4,089)      (5,006)
Cash and cash equivalents at beginning of year      22,997       19,760
Cash and cash equivalents at end of quarter       $ 18,908    $  14,754

       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, 2001 as filed in its Annual Report  on
Form  10-K.  Beginning with the quarter ended September 29, 2001,  the
Company's  first  three  quarterly periods  include  approximately  13
weekly  periods ending on the Saturday closest to the  end  of  March,
June  and September.  The Company's year-end is December 31.   Certain
reclassifications have been made to prior year amounts to  conform  to
the current year presentation.

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.

Supplemental Noncash Transactions - As more fully described in Note 2,
the further devaluation of the Argentine peso decreased the assets and
liabilities  of the Sugar and Citrus segment during the first  quarter
of   2002.   The  devaluation  of  the  peso  denominated  assets  and
liabilities  reduced working capital and fixed assets  by  $13,005,000
and  $28,830,000, respectively, and reduced net long-term  liabilities
by $387,000.  No tax benefit was recorded related to this devaluation.

Effective  January  1,  2002, the Company  adopted  the  Statement  of
Financial Accounting Standards No. 144, "Accounting for the Impairment
or  Disposal  of  Long-Lived Assets" (SFAS 144).  SFAS 144  supercedes
SFAS No. 121, "Accounting for the Impairment of Long-Lived Assets  and
for Long-Lived Assets to Be Disposed of;" however, it retains most  of
the  provisions  of  that  Statement related to  the  recognition  and
measurement  of the impairment of long-lived assets to  be  "held  and
used."  The Statement provides more guidance on estimating cash  flows
when  performing  a  recoverability test, requires that  a  long-lived
asset to be disposed of other than by sale be classified as "held  and
used"  until  it  is  disposed  of, and establishes  more  restrictive
criteria to classify an asset as "held for sale."  The adoption had no
immediate impact on the Company's financial statements.


Note 2 - Comprehensive Income (Loss)

Components of total comprehensive income (loss), net of related taxes,
are summarized as follows:

                                                  Three Months Ended
                                                       March 30, March 31,
(Thousands of dollars)                               2002      2001

Net income                                       $  4,577   $ 7,615
Other comprehensive income (loss)
  net of applicable taxes:
 Foreign currency translation adjustment          (35,185)     (155)
 Unrealized gain on investments                     2,620        98
 Net unrealized loss on cash flow hedges             (137)        -
 Deferred gain on swaps                                 -     1,353
 Amortization of deferred gain on swaps               (50)      (50)
Total comprehensive income (loss)                $(28,175)  $ 8,861

The  components of and changes in accumulated other comprehensive loss
for the three months ended March 30, 2002 are as follows:

                                          Balance                 Balance
                                         December 31,   Period   March 30,
(Thousands of dollars)                      2001        Change      2002

Foreign  currency translation adjustment $(62,218)    $(35,185)  $(97,403)
Unrealized gain (loss) on investments      (3,067)       2,620       (447)
Unrecognized pension cost                  (1,273)           -     (1,273)
Net unrealized loss on cash flow hedges         -         (137)      (137)
Deferred gain on swaps                      1,152          (50)     1,102
Accumulated other comprehensive loss     $(65,406)    $(32,752)  $(98,158)

The  foreign currency translation adjustment primarily represents  the
effect  of  the  Argentine peso devaluation on the net assets  of  the
Company's Sugar and Citrus segment as first recorded by the Company in
the  fourth quarter of 2001.  During the quarter ended March 30, 2002,
the  peso  devalued an additional 43% against the U.S. dollar.   As  a
result  of  this  devaluation,  the  Company  recorded  a  $40,046,000
reduction to shareholders' equity through a $4,979,000 charge  against
net  earnings  for dollar denominated debt of the Company's  Argentine
subsidiary, and a currency translation adjustment of $35,067,000 as an
other  comprehensive  loss for the peso denominated  net  assets.   At
March  31,  2002 the Company has $46,292,000 in net assets denominated
in  Argentine pesos and $14,079,000 in net liabilities denominated  in
U.S.  dollars  in Argentina.  Impacts of further fluctuations  in  the
currency  exchange rate will be recorded in future  periods.   No  tax
benefit  has  been provided related to this reduction of shareholders'
equity.

The  unrecognized  pension cost is calculated  and  adjusted  annually
during the fourth quarter.  With the exception of the foreign currency
translation  loss  discussed above, income  taxes  for  components  of
accumulated  other  comprehensive  loss  were  recorded  using  a  39%
effective tax rate.


Note 3 - Inventories

The  following  is  a  summary of inventories at March  30,  2002  and
December 31, 2001 (in thousands):

                                                       March 30,   December 31,
                                                          2002        2001
At lower of LIFO cost or market:
  Live hogs and related materials                      $120,882     $124,212
  Dressed pork and related materials                     11,122       12,930
                                                        132,004      137,142
  LIFO allowance                                         (5,831)      (5,231)
       Total inventories at lower of LIFO cost
        or market:                                      126,173      131,911
At lower of FIFO cost or market:
  Grain, flour and feed                                  57,332       42,581
  Sugar produced and in process                           7,172       15,039
  Other                                                  14,090       15,814
       Total inventories at lower of FIFO cost
        or market                                        78,594       73,434
       Total inventories                               $204,767     $205,345


Note 4 - Contingencies

On  February  12, 2002, the United States Senate passed a  Farm  Bill,
(S.  Bill  1731), which includes a provision (the "Johnson Amendment")
which  prohibits  packers,  such  as  the  Company,  from  owning   or
controlling  livestock intended for slaughter for more  than  14  days
prior  to  the  slaughter.  The  Johnson  Amendment  also  contains  a
transition  rule  applicable  to packers  of  pork  providing  for  an
effective  date which is 18 months after enactment of  the  Act.   The
U.S.  House of Representatives also passed a Farm Bill (H. Bill 2646),
but  this  Bill does not include the prohibition on packers owning  or
controlling  livestock.   A  committee  of  Conferees,  consisting  of
members  of both the Senate and the House, was established to  attempt
to  reconcile  the  differences between the two Bills,  including  the
Johnson  Amendment.   If  a  uniform Bill  were  agreed  upon  by  the
committee,  the Farm Bill would be voted upon by both the  Senate  and
the  House and, if enacted, would be sent to the President for him  to
sign into law or to veto.

The House Conferees informally have indicated they are not in favor of
including  the Johnson Amendment in the Farm Bill, and have offered  a
compromise  to  their  Senate  colleagues  to  form  a  Presidentially
appointed committee to study the packer ownership issue and produce  a
report  by  December  2004.   The report presumably  would  study  the
implications of the Johnson Amendment and make a recommendation as  to
it.

If  the Farm Bill containing the Johnson Amendment were to become law,
it could have a material adverse effect on the Company, its operations
and  its  strategy  of  vertical integration  in  the  pork  business.
Currently,  the  Company owns and operates production  facilities  and
owns swine and produces approximately three million hogs per year with
construction in progress for an additional half million hogs per year.
If  enacted,  the  Johnson Amendment would prohibit the  Company  from
owning  or  controlling hogs, and thus would require  the  Company  to
divest  these  operations,  possibly at prices  which  are  below  the
carrying  value  of  such assets on the Company's  balance  sheet,  or
otherwise restructure its ownership and operation.  At March 30, 2002,
the Company has $247.6 million in hog production facilities classified
as   net   fixed  assets  on  the  Consolidated  Balance  Sheet   plus
approximately  $185.0  million  in  hog  production  facilities  under
Facility  Agreements accounted for as operating leases.  In  addition,
the  Company  has  $120.9 million invested in live  hogs  and  related
materials classified as inventory on the Consolidated Balance Sheet.

The  Johnson  Amendment  could  also be construed  as  prohibiting  or
restricting   the   Company  from  engaging  in  various   contractual
arrangements  with  third  party hog producers,  such  as  traditional
contract  finishing arrangements.  Accordingly, the Company's  ability
to  contract for the supply of hogs to its processing facility may  be
significantly,  negatively impacted.  At March 30, 2002,  the  Company
had  approximately  $23.4  million in  commitments  through  2013  for
various grow finishing agreements.
The  Company, along with industry groups and other similarly  situated
companies,  is  vigorously lobbying against enactment of  the  Johnson
Amendment.   The  ultimate  outcome of this matter  is  not  presently
determinable.

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 and that ruling  has  been  upheld  on
appeal.   The arbitration is continuing based on other legal theories,
although the Company believes that it will have no responsibility  for
the loss.

The  Company  is a defendant in an action brought by the  Sierra  Club
alleging  violations of various environmental laws related to  one  of
the  Company's hog production operations.  The Company believes it has
meritorious  defenses  to all of the claims of  the  Sierra  Club  but
cannot  predict  with  certainty the outcome of the  litigation.   The
Company  is  also subject to an ongoing investigation  by  the  United
States Environmental Protection Agency.

The Company has not previously recognized any tax benefits from losses
generated  by  Ingenio  y  Refineria  San  Martin  del  Tabacal   S.A.
(Tabacal),  its  sugar  and citrus segment,  for  financial  reporting
purposes since it was not a controlled entity for tax purposes and  it
was not apparent that the permanent basis difference would reverse  in
the foreseeable future.  During the first quarter of 2002, the Company
substantially  completed a tender offer in Argentina to  purchase  the
outstanding  shares of Tabacal not currently owned by the Company  for
$0.4  million.   As  a  result of the current economic  and  political
situation in Argentina, the Company is not yet certain that it will be
able to fully complete the tender offer.

If  the  Company  is  successful in concluding the  above  transaction
during   2002,   it  would  reduce  its  deferred  tax  liability   by
approximately $46.3 million which is the tax effect of the  cumulative
basis   difference  from  Tabacal's  operations  since  the  date   of
acquisition  by  the Company in July of 1996 in its consolidated  U.S.
tax return.  Of this amount, a majority of the tax benefit will reduce
the  currency  translation adjustment recorded  as  other  accumulated
comprehensive  loss.  Based on the currency translation adjustment  at
March 30, 2002, this amount would be approximately $33.7 million.  The
currency  translation adjustment, originally recorded as a  result  of
the  Argentine devaluation in January 2002, may fluctuate at the  time
of  recognizing this potential tax benefit based on the exchange rates
in  effect at that time.  The remaining benefit would be recognized as
a  current  tax benefit in the Consolidated Statement of Earnings  for
2002.

The  Company is a plaintiff in a lawsuit against several manufacturers
of  vitamins and feed additives which have plead guilty in the context
of  criminal  proceedings to price fixing.  Because the  manufacturers
have  admitted price fixing in the criminal context, it is likely that
the  manufacturers will be liable for the overcharges made as a result
of   the   price  fixing.   The  Company  had  purchases   aggregating
approximately  $37.7  million during the relevant  time  period.   The
Company  is  still in the process of determining what it believes  was
the  amount  of  the overcharge on these purchases on account  of  the
price  fixing.  Under antitrust laws, if the matter proceeds to trial,
the  manufacturers are responsible for treble damages.  In a  separate
class action law suit which was brought against the manufacturers  but
which  the  Company  opted  out of, the  matter  was  settled  by  the
manufacturers paying a total of approximately 18% of the agreed  gross
sales  as  total damages.  The Company opted out of the  class  action
because  it  believes that it is entitled to a greater amount,  either
pursuant to a settlement or at trial.

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.

As  the  Sugar  and Citrus segment operates solely in  Argentina  with
primarily local sales and operating expenses, the functional  currency
is  the  Argentine  peso.  As described in Note  2,  the  Company  has
recorded  the  effects of the recent and ongoing  devaluation  of  the
Argentine  peso.   As  a  result, peso-denominated  assets  have  been
reduced by $49,249,000 during the first quarter of 2002.

Management is currently considering various strategic alternatives for
the  Produce  Division and has ceased its shrimp,  pickle  and  pepper
farming  operations in Honduras.  After evaluating the  recoverability
of the long-lived assets of the Produce Division at December 31, 2001,
management believes the values are presently recoverable.  As of March
30,  2002, the total carrying value of these long-lived assets totaled
$6,279,000.


Sales to External Customers:
                                          Three Months Ended
                                        March 30,      March 31,
(Thousands of dollars)                     2002           2001

Pork                                    $171,058       $181,894
Commodity Trading and Milling            147,538        116,229
Marine                                    90,815         89,891
Sugar and Citrus                          14,699         20,377
Power                                     12,212         16,967
All Other                                  6,601          9,902
 Segment/Consolidated Totals            $442,923       $435,260


Operating Income
                                          Three Months Ended
                                        March 30,      March 31,
(Thousands of dollars)                     2002           2001

Pork                                    $ 2,517        $11,826
Commodity Trading and Milling             6,749            324
Marine                                    3,613          4,653
Sugar and Citrus                          3,135          1,022
Power                                     1,625          3,293
All Other                                  (514)        (1,833)
 Segment Totals                          17,125         19,285
Corporate Items                            (371)        (1,249)
 Consolidated Totals                    $16,754        $18,036


Total Assets
                                         March 30,     December 31,
(Thousands of dollars)                      2002           2001

Pork                                    $  506,743     $  508,642
Commodity Trading and Milling              190,336        172,684
Marine                                     122,713        131,334
Sugar and Citrus                            70,701        115,402
Power                                       78,925         77,102
All Other                                   19,007         20,276
 Segment Totals                            988,425      1,025,440
Corporate items                            178,852        210,152
 Consolidated Totals                    $1,167,277     $1,235,592

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.


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

LIQUIDITY AND CAPITAL RESOURCES

Cash  from  operating activities for the three months ended March  30,
2002,  decreased  $39.2 million compared to the same period  one  year
earlier.  The decrease in cash flows was primarily related to  changes
in  the  components  of  working capital.  Changes  in  components  of
working  capital  are  primarily  related  to  the  timing  of  normal
transactions  for voyage settlements, trade payables and  receivables.
Within  the  Commodity  Trading and Milling segment,  increased  sales
during  the  first  quarter  of  2002  resulted  in  an  increase   in
receivables  compared  to  a  decrease in receivables  for  the  first
quarter of 2001.

Cash   from   investing  activities  for  the   three   months   ended
March  30,  2002, increased $62.5 million compared to the same  period
one year earlier.  The increase was primarily related to proceeds from
the  net  sale of short-term investments compared to net purchases  of
investments in the prior year.

The Company invested $9.1 million in property, plant and equipment for
the  three  months  ended March 30, 2002, of which  $5.2  million  was
expended in the Pork segment, $1.8 million in the Marine segment, $1.2
million in the Commodity Trading and Milling Segment, $0.7 million  in
the Sugar and Citrus segment, and $0.2 million in other businesses  of
the Company.

The  Company  invested $5.2 million in the Pork segment primarily  for
expansion of existing hog production facilities, improvements  to  the
pork  processing plant, and purchase options for land upon  which  the
Company   plans   to  expand  operations  as  discussed   below.    In
February  2002,  the  Company  announced  plans  to  build  a   second
processing plant in northern Texas along with related plans to  expand
its  vertically integrated hog production facilities.  These plans are
contingent  on  a  number  of factors, including  obtaining  necessary
permits, commitments for a sufficient quantity of hogs to operate  the
plant, and no statutory impediments being imposed by the proposed farm
bill  currently being debated in the U.S. Congress (see Note 4 to  the
Consolidated   Financial  Statements).   These  plans   will   require
extensive  capital outlays and financing demands.   The  current  cost
estimates to build the plant are approximately $150.0 million with  an
additional $200.0 million for live production facilities for  a  total
of   approximately  $350.0  million.   The  Company  also  anticipates
pursuing  various  contract  growing  arrangements.   The  Company  is
currently  evaluating its alternatives for financing  these  expansion
plans,  including  additional borrowings,  leases  or  other  business
ventures  with  third  parties.  Due to the uncertainties  surrounding
permitting  and  the potential impact of the proposed farm  bill,  the
Company  is currently not able to predict the timing of the  expansion
project.   During  the  remainder  of 2002,  the  Company  anticipates
spending  $26.7  million  for  continued  expansion  of  existing  hog
production facilities, upgrades to the existing pork processing  plant
and  certain costs related to the planning for construction of the new
processing plant.

The  Company invested $1.8 million in the Marine segment primarily for
the  purchase  of  additional machinery  and  equipment.   During  the
remainder  of 2002, the Company anticipates spending $9.5 million  for
additional equipment.

The Company invested $1.2 million in the Commodity Trading and Milling
segment  primarily  for the purchase of additional equipment.   During
the  remainder of 2002, the Company anticipates spending $2.0  million
for additional equipment.

The  Company  invested $0.7 million in the Sugar  and  Citrus  segment
primarily  for  improvements  to  existing  facilities  and  sugarcane
fields.   During  the  remainder  of  2002,  the  Company  anticipates
spending $2.3 million for additional improvements.

Cash  from  financing activities for the three months ended March  30,
2002,  decreased  $21.6 million compared to the same period  one  year
earlier.    This  decrease  is  primarily  the  result   of   repaying
approximately $26.7 million of the maturing five-year revolving credit
facility  in the first quarter of 2002, partially offset by additional
notes payable to banks.

The  Company's  one-year revolving credit facilities  totaling  $141.0
million at December 31, 2001 matured during the first quarter of 2002.
The  Company extended $20.0 million of these facilities for one  year.
While the Company currently anticipates replacing the facilities  that
were  not extended during 2002, the total amount and related terms  of
the  facilities  have not yet been determined.  The Company  also  has
short-term  uncommitted credit lines totaling $85.3 million  at  March
30,  2002.   As  of  March 30, 2002, the Company had $5.0  million  of
borrowings  outstanding under the one-year revolving credit facilities
and  $35.7 million outstanding under the short-term uncommitted credit
lines.

The Company is a party to various master lease programs and a contract
finishing   agreement   (the  "Facility  Agreements")   with   limited
partnerships and a limited liability company which own certain of  the
facilities  that are used in connection with the Company's  vertically
integrated  hog production.  These arrangements are accounted  for  as
operating  leases.  At March 30, 2002, the total amount of unamortized
costs  representing fixed asset values and the underlying  outstanding
debt under these Facility Agreements was approximately $185.0 million.
These  hog  production  facilities produce approximately  45%  of  the
Company   owned  hogs  processed  at  the  plant.   In  August   2002,
$130.0  million of the underlying bank facility in one of the  limited
partnerships  for  certain properties expires.  The Company  currently
has not determined if it will request the limited partnership to renew
the  bank  facility or refinance in a new bank facility  in  order  to
permit  the current arrangement to be continued.  If the bank facility
is neither renewed nor replaced, the Company may exercise its right to
purchase  the assets from the limited partnership ($122.6  million  at
March  30,  2002) or the limited partnership may attempt to  sell  the
properties  to a third party with which the Company may enter  into  a
grower arrangement.  Currently, management believes that it will  have
sufficient liquidity and financing capacity to accomplish any  of  the
alternatives.

In  addition  to  the  Pork  segment  expansion  plans  and  potential
financing  requirements  related to assets under  Facility  Agreements
discussed above, the Company's Senior Notes continue to mature through
2007.   Management believes that the Company's current combination  of
liquidity,  capital  resources  and  borrowing  capabilities  will  be
adequate  for its existing operations during fiscal 2002.   Management
is  evaluating various alternatives for future financings  to  provide
adequate  liquidity for the Company's future operating  and  expansion
plans.    In   addition,  management  intends  to   continue   seeking
opportunities for expansion in the industries in which it operates.


RESULTS OF OPERATIONS

Net  sales for the three months ended March 30, 2002 increased by $7.7
million  compared to the three months ended March 31, 2001.  Operating
income decreased by $1.3 million compared to the same quarter one year
ago.   Results  of operations for interim periods are not  necessarily
indicative of results to be expected for a full year.


Pork Segment
                                         Three Months Ended
                                      March 30,      March 31,
(Dollars in millions)                    2002           2001

Net sales                             $ 171.1          181.9
Operating income                      $   2.5           11.8

Net  sales  for the Pork segment decreased $10.8 million in the  first
quarter of 2002 compared to the first quarter of 2001 as a result of a
lower  pork  prices.   Reduced world-wide meat  supplies  during  2001
contributed  to  higher sales prices for that year.  During  the  last
half  of  the  first  quarter  of 2002, domestic  meat  supplies  have
increased,  causing  increased competition resulting  in  lower  sales
prices.

Operating  income for the Pork segment decreased $9.3 million  in  the
first  quarter of 2002 compared to the first quarter of 2001 primarily
as  the result of lower sales prices discussed above, partially offset
by  a  decrease in cost of third party hogs.  While unable to  predict
future market prices, management does anticipate that operating income
for  the  remainder  of 2002 will be significantly  lower  than  2001.
Future results may also be adversely affected by the pending U.S. Farm
Bill  as  further  discussed in Note 4 to the  Condensed  Consolidated
Financial Statements.


Commodity Trading and Milling Segment
                                         Three Months Ended
                                      March 30,      March 31,
(Dollars in millions)                    2002           2001

Net sales                             $ 147.5          116.2
Operating income                      $   6.7            0.3
Loss from foreign affiliates          $  (1.2)          (0.6)

Net  sales  for  the  Commodity Trading and Milling segment  increased
$31.3  million  in  the first quarter of 2002 compared  to  the  first
quarter  of  2001.   The  increase is primarily  a  result  of  higher
commodity  prices  and increased milling revenues.   Milling  revenues
have   increased   primarily  as  a  result  of  favorable   operating
environments in certain foreign locations, which have allowed mills in
those locations to increase production levels.

Operating income for this segment increased $6.4 million in the  first
quarter  of  2002  compared to the first quarter of  2001.   Operating
income   increased  primarily  from  realized  derivative   gains   of
$3.2  million related to commodity contracts, increased production  at
certain  foreign milling operations, and, to a lesser extent, a  lower
provision  for  bad  debts.  During the 2001  quarter,  the  commodity
contracts  were  treated as fair value hedges  with  minimal  earnings
impact.   While the Company believes its commodity futures and options
are  economic  hedges  of  its  firm  purchase  and  sales  contracts,
beginning in the fourth quarter of 2001, the Company discontinued  the
extensive   record-keeping   required   to   account   for   commodity
transactions  as fair value hedges.  As a result, during  2002,  while
the  derivative contracts have been marked-to-market through  cost  of
goods sold, the related, offsetting change in market value of the firm
commitments  have not been recognized.  Accordingly, the Company  will
recognize  decreased  operating income in future quarters  related  to
these contracts based on current market values.  As of March 30, 2002,
the  total  fair value of open commodity positions was  $2.0  million.
Due  to  the  nature of this segment's operations and its exposure  to
foreign  political and economic situations, management  is  unable  to
predict future sales and operating results.

Loss  from  foreign affiliates increased $0.6 million primarily  as  a
result  of  increased losses at a certain African  milling  operation.
Based  on  current political and economic situations in the  countries
the  flour and feed mills operate, management anticipates losses  from
foreign affiliates to continue for the remainder of 2002.


Marine Segment
                                         Three Months Ended
                                      March 30,      March 31,
(Dollars in millions)                    2002           2001

Net sales                             $  90.8           89.9
Operating income                      $   3.6            4.7

Net  sales for the Marine segment increased $0.9 million in the  first
quarter  of 2002 compared to the first quarter of 2001.  This increase
primarily  reflects increased cargo volume to certain  markets  mostly
offset by a decrease in average cargo rates compared to the prior year
average.   In  March  2002,  the Company experienced  declining  cargo
volumes  in  certain  South American markets as the  result  of  local
political instability in that region.

Operating income for the Marine segment decreased $1.1 million in  the
first quarter of 2002 compared to the first quarter of 2001, primarily
reflecting  the  lower  margins due to  declining  cargo  rates.   The
duration and extent of political instability in certain South American
countries  will  continue  to  affect  results.   Although  Management
expects operating results for this segment to remain profitable during
2002,  with  the political instability of certain markets and  reduced
rates  throughout  the  Caribbean region,  operating  income  for  the
remainder of 2002 is expected to be lower than 2001.


Sugar and Citrus Segment
                                         Three Months Ended
                                      March 30,      March 31,
(Dollars in millions)                    2002           2001

Net sales                             $  14.7           20.4
Operating income                      $   3.1            1.0

Net sales for the Sugar and Citrus segment decreased $5.7 million from
the  first quarter of 2001 primarily reflecting the devaluation of the
Argentine  peso,  discussed below, partially offset  by  higher  sales
prices  for sugar.  Operating income increased $2.1 million reflecting
the  improved sales prices and certain lower operating costs.  At this
time,  management  is  not  able to predict future  sugar  prices  and
operating  income for the remainder of 2002 in light of the events  in
Argentina discussed below.

As  discussed in Note 2 to the Consolidated Financial Statements,  the
functional  currency  of the Sugar and Citrus segment,  the  Argentine
peso,  continues to devalue compared to the U.S. dollar, resulting  in
material  currency translation losses.  Operating income, as discussed
above,   does  not  include  the  effects  of  the  material  currency
translation  losses  on shareholders' equity  or  net  earnings.   The
economy  of  Argentina has been severely, negatively impacted  by  the
devaluation and continuing recession.  Currently, management has  been
able  to increase the peso prices for sugar more than peso costs  have
increased,  resulting in improved operating income in  terms  of  U.S.
dollars.    However,  as  a  result  of  the  economic   turmoil   and
uncertainty,  it  is not possible for management to  predict  if  this
trend will continue or if costs will begin to increase more than sugar
prices in the coming months.


Power Segment
                                         Three Months Ended
                                      March 30,      March 31,
(Dollars in millions)                    2002           2001

Net sales                             $  12.2           17.0
Operating income                      $   1.6            3.3

Net  sales  for the Power segment decreased $4.8 million in the  first
quarter of 2002 compared to the first quarter of 2001 reflecting lower
market  rates in the spot market.  Through the third quarter of  2001,
all  sales  from this division were made under contract to the  state-
owned  electric company.  That contract was rescinded during September
2001  and the Company began selling power at market rates on the  spot
market.    These  market  rates  have  decreased  during  the  quarter
reflecting, in part, lower average fuel costs, a component of pricing.

Operating income decreased $1.7 million for the first quarter of  2002
compared  to the first quarter of 2001 primarily reflecting the  lower
market  rates  and additional transmission fees, partially  offset  by
lower  operating  expenses.  While management is not able  to  predict
future  market rates, it is anticipated that operating income will  be
lower for the remainder of 2002 compared to 2001.


All Other
                                         Three Months Ended
                                       March 30,     March 31,
(Dollars in millions)                    2002           2001

Net sales                             $    6.6           9.9
Operating loss                        $   (0.5)         (1.8)
Loss from foreign affiliates          $   (0.9)            -

Net  sales  for  all  other  businesses  decreased  $3.3  million  and
operating  loss  decreased $1.3 million in the first quarter  of  2002
compared  to the first quarter of 2001.  These decreases are primarily
the  result of the Produce division's decision to cease shrimp, pickle
and  pepper  farming  operations  in Honduras.   Management  currently
anticipates  improved  operating results for  the  remainder  of  2002
compared  to  2001.   Management has evaluated the  recoverability  of
those  long-lived  farming assets at December 31, 2001,  believes  the
value  is presently recoverable, and is currently considering  various
strategic alternatives for those assets.  However, the final  decision
regarding   the  alternatives,  or  continued  losses  from   existing
operations, could result in the carrying values not being recoverable,
and  could  result in a material charge to earnings for the impairment
of those assets.

The  loss from foreign affiliates during 2002 represents the Company's
share  of losses from an equity method investment in a Bulgarian  wine
business.  The equity in losses from that investment began during  the
second  quarter of 2001.  Management currently anticipates  continuing
losses for the remainder of 2002.


Selling, General and Administrative Expenses

Selling,   general   and  administrative  (SG&A)  expenses   decreased
$4.4  million to $26.3 million for the first quarter of 2002  compared
to  the first quarter of 2001.  The decrease primarily reflects  lower
operating  costs  for  the  Sugar and Citrus  segment,  including  the
effects   of  the  Argentine  peso  devaluation  on  peso  denominated
expenses,  reduced operating expenses in the Power division and  lower
provision for bad debts in the Commodity Trading and Milling division.
As  a  percentage  of revenues, SG&A decreased to 5.9%  in  the  first
quarter of 2002 from 7.1% in the first quarter of 2001, primarily  due
to increased revenues in the Commodity Trading and Milling segment and
the reduced SG&A expenses in the segments discussed above.


Interest Expense

Interest expense decreased $2.5 million in the first quarter  of  2002
compared  to  the first quarter of 2001.  The decrease is primarily  a
result of a lower average level of short-term and long-term borrowings
outstanding  during the 2002, and, to a lesser extent,  lower  average
interest rates.


Interest Income

Interest  income decreased $0.6 million in the first quarter  of  2002
compared  to  the  first  quarter  of 2001  reflecting  lower  average
interest rates during 2002 and a reduction in average funds invested.


Foreign Currency Losses

Foreign  currency  losses  increased to $5.4  million  for  the  first
quarter  of  2002 compared with $0.4 million for the  same  period  in
2001.   The  losses during 2002 primarily reflect the  Argentine  peso
devaluation  effect  on  dollar denominated  net  liabilities  of  the
Company's  Argentine  subsidiary.  See  Note  2  to  the  Consolidated
Financial Statements for additional discussion of the devaluation.  As
a  result  of  the  continuing  economic uncertainties  in  Argentina,
management  is  unable  to predict the future extent  of  any  further
devaluation of the Argentine peso.


Income Tax Expense

The  effective  tax  rate  decreased  during  2002  compared  to  2001
primarily  as  the  result of increased permanently  deferred  foreign
earnings and lower domestic taxable income.


Other Financial Information

The  Financial Accounting Standards Board (FASB) has issued  SFAS  No.
143,  "Accounting  for  Asset Retirement Obligations",  effective  for
fiscal  years  beginning  after June 15, 2002.   This  statement  will
require the Company to record a long-lived asset and related liability
for  estimated future costs of retiring certain assets.  The estimated
asset retirement obligation, discounted to reflect present value, will
grow  to  reflect  accretion of the interest component.   The  related
retirement  asset  will be amortized over the  economic  life  of  the
related  asset.  Upon adoption of this statement, a cumulative  effect
of  a change in accounting principle will be recorded at the beginning
of  the  year  to recognize the deferred asset and related accumulated
amortization  to  date and the estimated discounted  asset  retirement
liability  together with cumulative accretion since the  inception  of
the liability.

The  Company  will incur asset retirement obligation costs  associated
with  the closure of the hog lagoons it is legally obligated to close.
Accordingly,  the  Company  is  performing  detailed  assessments  and
obtaining  the  appraisals required to estimate the future  retirement
costs.  Although these costs could change by the date of adoption,  it
is  currently  estimated  that the Company will  record  a  cumulative
effect  of  approximately $2.1 million as a  charge  to  earnings,  an
increase  in  net  fixed assets of $2.9 million  and  a  liability  of
$5.0  million for this change in accounting principle at the  date  of
adoption.  Currently, the Company plans to adopt this statement during
the  first quarter of fiscal 2003.  During 2003, the Company currently
estimates  the  total accretion of the liability and  depreciation  of
fixed assets to increase cost of sales by approximately $0.5 million.

In  February  2002, the Company began a tender offer in  Argentina  to
purchase  the  remaining outstanding shares of its  sugar  and  citrus
subsidiary,  Tabacal,  not currently owned by  the  Company.   If  the
Company  is  successful  in  completing  this  transaction,  it  would
increase  shareholders'  equity  by  approximately  $46.3  million  by
reducing its deferred tax liability.  This benefit would be recognized
by  reducing other accumulated comprehensive loss and recording a  tax
benefit  in  the Consolidated Statement of Earnings for  2002.   As  a
result  of  the current economic and political situation in Argentina,
the  Company  is not yet certain that it will be able to complete  the
remaining  required  legal actions.  See Note 4  to  the  Consolidated
Financial Statements for further discussion.



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.  Changes in the  exchange  rate
for  the  Argentine  peso  affect the valuation  of  foreign  currency
denominated net assets of the Company's Argentine subsidiary  and  net
earnings  for  the  impact of the change on that  subsidiary's  dollar
denominated  net  liabilities.   The Company's  market  risk  exposure
related  to these items has not changed materially since December  31,
2001.


SEABOARD CORPORATION AND SUBSIDIARIES

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

On  March 29, 2002, the EPA issued an Amended 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"), Shawnee
Funding  Limited Partnership and PIC USA, Inc. ("PIC")  (collectively,
"Respondents").  The SDWA Order was issued after the negotiation of  a
settlement agreement with EPA and supercedes the similar order  issued
June  7,  2001.   Pursuant  to  this settlement  agreement,  upon  the
issuance of the SDWA Order, EPA and Respondents agreed to dismiss  the
litigation  Respondents had commenced in the United  States  Court  of
Appeals for the Tenth Circuit challenging the June 7, 2001 order.  The
SDWA  Order  relates to five swine farms located in Major  County  and
Kingfisher County, Oklahoma and alleges that Respondents have violated
the  SDWA  through  the introduction of a contaminant  (nitrate)  into
groundwater which may create an imminent and substantial risk of  harm
from  contamination  of  domestic  wells.   Respondents  disputed  the
allegations  of the SDWA Order, but determined that it would  be  more
cost  effective to negotiate the terms of an order than  to  challenge
it.   Pursuant  to  the  SDWA Order, Respondents must  sample  certain
domestic  wells and provide alternative water supplies  for  users  of
certain  wells until investigations reveal that the wells are safe  or
that the swine farms are not the source of elevated nitrates.  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.  Seaboard is receiving indemnity and  defense
of the SDWA Order from PIC.

On  April  2, 2002, the United States Environmental Protection  Agency
("EPA")  sent to the Company's subsidiary, Seaboard Farms, and Mission
Funding, LLC ("Mission) a letter pursuant to the Clean Air Act ("CAA")
requiring  Seaboard  Farms and Mission to install and  use  monitoring
equipment  to  sample emissions at certain hog confinement  facilities
for purposes of determining whether these operations are in compliance
with  the CAA.  The EPA is requiring monitoring at specific facilities
and  requesting that Seaboard Farms and Mission determine whether  the
results  therefrom  can  be reasonably extrapolated  to  estimate  the
emissions  for  all other farms operated by Seaboard Farms.   If  not,
Seaboard  Farms  and  Mission must list all  unrepresented  farms  and
either  monitor  those  farms  or  identify  other  farms  from  which
monitoring  can  be  extrapolated to estimate  their  emissions.   The
letter also requires that Seaboard Farms and Mission submit a plan and
protocol  for  testing for emissions of particulate  matter,  volatile
organic compounds and hydrogen sulfide.

The  Company  believes  that  EPA's  demand  is  beyond  the  Agency's
authority pursuant to the CAA because the monitoring program  demanded
by  EPA  (a) is not reasonably required to determine whether  Seaboard
Farms'  and Mission's facilities are in compliance with the  CAA,  and
(b)  imposes  monitoring methods that EPA has admitted are unreliable.
Seaboard  Farms has undertaken a technical study to determine  whether
its  hog  operations  are in compliance with the  CAA,  including  any
applicable State Implementation Plan.  Seaboard Farms intends to  have
discussions with EPA regarding a reasonable way to make the compliance
determination demanded by EPA's letter.  Pursuant to the CAA,  if  EPA
is  within its authority to require the monitoring and Seaboard  Farms
and  Mission  do not comply, the EPA can bring a suit to  enforce  the
provisions of the letter, and if it is determined that EPA  is  within
its  authority, the court can impose a civil penalty of up to  $27,500
per  violation, per day of non-compliance, and may obtain  appropriate
injunctive relief.


Item 6.  Exhibits and Reports on Form 8-K

(a)  Exhibits

     3.2  Registrant's Bylaws, as amended.

(b)  Reports  on  Form 8-K.  On January 16, 2002 the Company  filed  a
     report  on  Form  8-K,  dated January 11,  2002,  disclosing  the
     effects of the Argentine peso devaluation on the Company's  Sugar
     and  Citrus segment located in Argentina.  Further discussion  is
     included  in  Note  2  to  the Condensed  Consolidated  Financial
     Statements.

This  Form 10-Q contains forward-looking statements within the meaning
of  the  Private Securities Litigation Reform Act of 1995,  which  may
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  Report  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 of the devaluation of
the  Argentine  peso,  (vii)  the effect of  changes  to  the  produce
division  operations on the consolidated financial statements  of  the
Company, (viii) the potential effect of the proposed U.S. Farm Bill on
the  Company's  Pork Division, (ix) the potential  impact  of  various
environmental actions pending or threatened against the Company or (x)
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, including without limitation the information under the
headings  "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:  April 25, 2002

                           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



</TEXT>
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