<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>press03.txt
<DESCRIPTION>PRESS RELEASE OF SEABOARD CORPORATION DATED MAY 6, 2003
<TEXT>

                          PRESS RELEASE
                       REPORT OF EARNINGS



                                                      May 6, 2003
                                          Shawnee Mission, Kansas

       The  following  is  a  report  of  earnings  for  Seaboard
Corporation  (AMEX symbol; SEB) with offices at  9000  West  67th
Street,  Shawnee Mission, Kansas 66202, (the "Company"), for  the
three months ended March 29, 2003 and March 30, 2002 in thousands
of dollars except per share amounts.


                                                       Three Months Ended
                                                 March 29, 2003  March 30, 2002

Net sales                                         $  461,867      $  442,923

Earnings (loss) before cumulative
effect
 of changes in accounting principles              $     (933)     $    1,723

Cumulative effect of changes in accounting for
 asset retirement obligations and dry-dock
 accruals, net income tax expense                      3,648               -

Net earnings                                      $    2,715      $    1,723

Earnings per share before cumulative effect of
 changes in accounting principles                 $    (0.74)     $     1.16

Cumulative effect of changes in accounting for
 asset retirement obligations and dry-dock
 accruals                                               2.90               -

Net earnings per common share                     $     2.16      $     1.16

Average number of shares outstanding               1,255,054       1,487,520



Notes to Report of Earnings:

Effective  January  1,  2003, the Company  adopted  Statement  of
Financial Accounting Standard No. 143, which required the Company
to  record  a  long-lived asset and related liability  for  asset
retirement  obligation costs associated with the closure  of  the
hog  lagoons  it is legally obligated to close. Accordingly,  the
Company   recorded  the  cumulative  effect  of  the  change   in
accounting  principle  with a charge to  earnings  of  $2,195,000
($1,339,000 net of tax).

Additionally, effective January 1, 2003, the Company changed  its
method  of accounting for the scheduled dry-dock of vessels  from
the  accrue-in-advance method to the direct-expense method. As  a
result, during the three months ended March 29, 2003, the Company
reversed  the  balance  of  the accrued  liability  for  dry-dock
maintenance as of December 31, 2002, resulting in an increase  in
earnings of $6,393,000 ($4,987,000 net of related tax expense).


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