<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>k102003.txt
<DESCRIPTION>SEABOARD CORPORATION 2003 10-K
<TEXT>


                          UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                            FORM 10-K

(Mark One)
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
     For the fiscal year ended December 31, 2003

                               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)

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

   SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

        Title of each class           Name of each exchange on which registered
      Common Stock $1.00 Par Value             American Stock Exchange

   SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

                               None
                        (Title of class)

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 [   ]

Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K.  [   ]

Indicate by check mark whether the registrant is an accelerated
filer (as defined in Rule 12b-2 of the Act).  Yes [ X ]  No [   ]

The aggregate market value of 354,380 shares of Seaboard voting
stock held by nonaffiliates on January 31, 2004 was approximately
$74,242,610.00, based on the closing price of $209.50 per share
on June 27, 2003, the end of Seaboard's second fiscal quarter.
As of February 20, 2003, the number of shares of common stock
outstanding was 1,255,053.90.

               DOCUMENTS INCORPORATED BY REFERENCE

Part I, item 1(b), a part of item 1(c)(1) and the financial
information required by item 1(d) and Part II, items 6, 7, 7A and
8 are incorporated herein by reference to Seaboard Corporation's
Annual Report to Stockholders furnished to the Commission
pursuant to Rule 14a-3(b).

Part II, a part of item 5, and Part III, a part of item 10 and
items 11, 12 and 13 are incorporated herein by reference to
Seaboard Corporation's definitive proxy statement filed pursuant
to Regulation 14A for the 2004 annual meeting of stockholders.

<PAGE>

Forward-Looking Statements

     This report, including information included or incorporated
by reference in this report, contains certain forward-looking
statements with respect to the financial condition, results of
operations, plans, objectives, future performance and business of
Seaboard Corporation and its subsidiaries (Seaboard).  Forward-
looking statements generally may be identified as:

         statements that are not historical in nature, and

         statements preceded by, followed by or that include the
         words "believes," "expects," "may," "will," "should,"
         "could," "anticipates," "estimates," "intends" or
         similar expressions

In more specific terms, forward-looking statements, include,
without limitation:

         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 regarding the intent, belief or current
         expectations of Seaboard and its management with
         respect to:

         (i)     the cost and timing of the completion of new or
                 expanded facilities,

         (ii)    Seaboard's ability to obtain adequate
                 financing and liquidity,

         (iii)   the price of feed stocks and other materials
                 used by Seaboard,

         (iv)    the sale price for pork products from such
                 operations,

         (v)     the price for other products and services,

         (vi)    the charter hire rates and fuel prices for
                 vessels,

         (vii)   the demand for power, related spot market
                 prices and collectibility of receivables in the
                 Dominican Republic,

         (viii)  the effect of the devaluation of the
                 Argentine and Dominican Republic pesos,

         (ix)    the potential effect of the proposed meat
                 packer ban legislation on the Pork Division,

         (x)     the effect of the Venezuelan economy on the Marine
                 Division,

         (xi)    the potential effect of Seaboard's investment
                 in a wine business on the consolidated financial
                 statements,

         (xii)   the potential impact of various environmental
                 actions pending or threatened against Seaboard, or

         (xiii)  other trends affecting Seaboard's financial
                 condition or results of operations, and

         statements of the assumptions underlying or relating to
         any of the foregoing statements.

     Forward-looking statements are not guarantees of future
performance or results.  They involve risks, uncertainties and
assumptions.  Actual results may differ materially from those
contemplated by the forward-looking statements due to a variety
of factors.  The information contained in this Form 10-K and in
other filings Seaboard makes with the Commission, including
without limitation, the information under the heading
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in this Form 10-K, identifies important
factors which could cause such differences.

<PAGE>  2

                             PART I

Item 1.  Business

     (a)  General Development of Business

     Seaboard  Corporation, a Delaware corporation, the successor
corporation  to  a  company  first  incorporated  in  1928,   and
subsidiaries    (Seaboard)   is   a   diversified   international
agribusiness  and  transportation  company  which  is   primarily
engaged domestically in pork production and processing, and cargo
shipping.   Overseas, Seaboard is primarily engaged in  commodity
merchandising,  flour  and feed milling,  sugar  production,  and
electric  power  generation.  See Item 1(c) (1) (ii)  "Status  of
Product  or  Segment" below for a discussion of  developments  in
specific segments.

     Seaboard  Flour  LLC, a Delaware limited liability  company,
owns  approximately 70.7 percent of the outstanding common  stock
of  Seaboard.  Mr. H. Harry Bresky, President and Chief Executive
Officer  of  Seaboard, and other members of  the  Bresky  family,
including  trusts  created for their benefit;  own  approximately
99.5  percent  of the common units of Seaboard Flour  LLC.   Such
Bresky  family  members also own additional shares,  representing
approximately  3.0  percent of the outstanding  common  stock  of
Seaboard.

     (b)  Financial Information about Industry Segments

     The  information required by Item 1(b) of Form 10-K relating
to  Industry  Segments  is incorporated herein  by  reference  to
Note  13  of  the Consolidated Financial Statements appearing  on
pages 48 through 52 of the Seaboard Corporation Annual Report  to
Stockholders  furnished to the Commission pursuant to  Rule  14a-
3(b) and attached as Exhibit 13 to this Report.

     (c)  Narrative Description of Business

          (1)  Business  Done and Intended to be  Done  by  the Registrant

               (i)    Principal Products and Services

     Pork Division - Seaboard, through its subsidiary, Seaboard
Farms, Inc., engages in the businesses of hog production and pork
processing in the United States.  Through these operations,
Seaboard produces and sells fresh and frozen pork to further
processors, foodservice outlets, grocery stores and other retail
outlets, and other distributors primarily in the western half of
the United States, and to Japan and other foreign markets.
Further processing companies purchase Seaboard's pork products in
bulk and produce products, such as lunchmeat, hams, bacon, and
sausages.  Fresh pork, such as loins, tenderloins and ribs are
sold to distributors and grocery stores.  Seaboard also sells a
small amount of packaged and marinated pork products.  Seaboard
sells some of its products under the brand name Prairie Fresh.
Seaboard's hog processing plant is located in Guymon, Oklahoma,
and operates at double shift capacity.  The plant processes
approximately 4.5 million hogs annually.

     Seaboard's hog production operations consist of the breeding
and   raising  of  approximately  3  million  hogs  annually   at
facilities  it either owns or leases or at facilities  owned  and
operated  by  third  parties with whom it has  grower  contracts.
Seaboard  has  recently completed expansion of the facilities  to
produce  an additional 500,000 hogs annually.  The hog production
operations  are located in the States of Oklahoma, Kansas,  Texas
and  Colorado.   As  a  part  of the hog  production  operations,
Seaboard produces specially formulated feed for the hogs  at  six
owned  feed  mills.  The remaining hogs processed  are  purchased
from  third  party hog producers, primarily pursuant to  purchase
contracts.

     Commodity Trading and Milling Division - Seaboard's
Commodity Trading and Milling Division, through its subsidiaries,
Seaboard Overseas Limited located in Bermuda, Seaboard Overseas
Trading and Shipping (PTY), Ltd. located in Durban, South Africa,
and other locations in Peru, Ecuador and Kenya, markets wheat,
corn, soybean meal and other commodities in bulk to third-party
customers internationally and affiliated companies.  These
commodities are purchased worldwide, with primary destinations to
Africa, South America, the Caribbean, and the Eastern
Mediterranean.  The division originates, transports and markets
approximately 4 million tons of grains and proteins on an annual
basis.  Seaboard integrates the service of delivering commodities
to its customers through the use of its owned bulk carriers and
other chartered vessels, as required.

<PAGE>  3

     This  division  also  operates  milling  businesses  in   13
countries, which are primarily supplied by the trading  locations
discussed  above.  The grain processing businesses  are  operated
through  four  owned  and  nine  non-consolidated  affiliates  in
Africa,  the  Caribbean and South America, with flour,  feed  and
maize  milling businesses which produce approximately 1.5 million
metric  tons of finished products per year.  Most of the products
produced  by the milling operations are sold in the countries  in
which the products are produced.

     Marine Division - Seaboard, through its subsidiary, Seaboard
Marine  Limited,  and  various foreign affiliated  companies  and
third party agents, provides containerized cargo shipping service
to over twenty countries between the United States, the Caribbean
Basin, and Central and South America.  Seaboard uses a network of
offices  and  agents throughout the United States, Canada,  Latin
America  and  the  Caribbean Basin to book  both  northbound  and
southbound cargo.  Through intermodal arrangements, Seaboard  can
transport  cargo from numerous U.S. mainland locations by  either
truck  or  rail to one of its U.S. port locations,  where  it  is
staged for shipment via sea.

     Seaboard's  primary  marine  operations  located  in   Miami
include  a  135,000 square foot warehouse for cargo consolidation
and temporary storage, and a 70 acre private terminal at the Port
of  Miami.  At the Port of Houston, Seaboard operates a  62  acre
cargo terminal facility that includes over 690,000 square feet of
on-dock  warehouse space for temporary storage of bagged  grains,
resins  and other cargoes.  Seaboard also makes scheduled  vessel
calls  in  New Orleans, Louisiana, Fernandina Beach, Florida  and
Philadelphia,   Pennsylvania.   Seaboard's  fleet   consists   of
approximately  28 owned or chartered vessels, thousands  of  dry,
refrigerated  and  specialized containers and related  equipment.
Seaboard  also  provides cargo transportation  service  from  its
domestic  ports of call to and from multiple foreign destinations
where  Seaboard  does  not make vessel calls  through  connecting
carrier agreements with third party regional and global carriers.

     Sugar   and   Citrus  Division  -  Seaboard,   through   its
subsidiary, Ingenio y Refineria San Martin del Tabacal and  other
Argentine  non-consolidated  affiliates,  is  involved   in   the
production  and  refining of sugar cane and  the  production  and
processing of citrus in Argentina.  These products are  primarily
sold   in   Argentina,   primarily  to  retailers,   soft   drink
manufacturers, and food manufacturers, with some exports  to  the
United States, South America and Europe.  Seaboard grows a  large
portion  of the sugar cane on approximately 40,000 acres of  land
it  owns in northern Argentina. The cane is processed at an owned
mill,  with a processing capacity of approximately 180,000 metric
tons of sugar per year.  The sugar mill is one of the largest  in
Argentina.   Seaboard  also  has an  orange  grove  in  Argentina
consisting of approximately 3,000 acres.

     Power   Division   -  Seaboard,  through   its   subsidiary,
Transcontinental  Capital Corp. (Bermuda) Ltd.,  operates  as  an
independent  power  producer  in the  Dominican  Republic.   This
operation  is  exempt from U.S. regulation by the Public  Utility
Holding  Company Act of 1938, as amended.  The business  operates
two  floating barges with a series of diesel engines  capable  of
generating   a   combined   rated   capacity   of   approximately
112  megawatts  of  electricity.  Seaboard generates  electricity
into the local Dominican Republic power grid, but is not involved
in  the  transmission  or distribution of the  electricity.   The
barges are secured on the Ozama River in Santo Domingo, Dominican
Republic.   The  electricity is sold  at  contracted  pricing  to
another  local  generation company and certain  large  commercial
users.  The remaining electricity is sold in the "spot market" at
current  market pricing, primarily to three wholly  or  partially
government-owned electric distribution companies.

     Other Businesses - Seaboard purchases and processes jalapeno
peppers at its owned plant in Honduras.  The processed peppers
are primarily sold to a customer in the United States, being
shipped by Seaboard's Marine division and distributed from
Seaboard's Port of Miami cold storage warehouse.

     Seaboard has a truck transportation business which arranges
truck freight services for third parties as a broker and as a
carrier.  This business also provides logistics and
transportation services to other Seaboard companies, using its
owner-operator program and extensive carrier network.

     Seaboard  also  has an equity investment in a wine  business
that  produces  wine  in  Bulgaria  for  distribution,  primarily
throughout Europe.

     The information required by Item 1 of Form 10-K with respect
to  the amount or percentage of total revenue contributed by  any
class   of  similar  products  or  services  which  account   for
10  percent  or more of consolidated revenue in any of  the  last
three  fiscal  years  is  set forth  in  Note  13  of  Seaboard's
Consolidated Financial Statements, appearing on pages 48  through
52  of the Seaboard's Annual Report to Stockholders, furnished to
the  Commission  pursuant  to  rule  14a-3(b)  and  attached   as
Exhibit  13  to  this report, which information  is  incorporated
herein by reference.

<PAGE>  4

               (ii)   Status of Product or Segment

     In  early  2004, Seaboard entered into a marketing agreement
with  Triumph  Foods  LLC (Triumph) to market  all  of  the  pork
products processed at Triumph's new pork processing plant  to  be
constructed  in St. Joseph, Missouri.  The plant is scheduled  to
begin  operations  in  mid to late 2005.  This  plant  will  have
capacity similar to Seaboard's Guymon, Oklahoma plant.

     In  early  2002, Seaboard announced plans to build a  second
pork  processing plant in northern Texas along with related plans
to  expand  its vertically integrated hog production  facilities.
However,  with  the  planned construction  of  the  Triumph  pork
processing  plant discussed above, Seaboard does  not  intend  to
make  any final decisions regarding construction until late  2006
when  the  Triumph  plant  is expected  to  reach  its  operating
capacity.   As a result, management  does not intend  to  proceed
with  the  expansion project at this time beyond the expenditures
required  to  allow future land development possibilities  should
market  conditions  change.  If Seaboard  ultimately  decides  to
pursue  this project, it would also be contingent on a number  of
other  factors,  including obtaining financing for  the  project,
obtaining  the  necessary permits, commitments for  a  sufficient
quantity   of  hogs  to  operate  the  plant,  and  no  statutory
impediments being imposed.

     During the first half of 2003, Seaboard fully stocked a  new
Seaboard-owned  hog  production  facility  which  increased   the
breeding   herd   by   approximately  12,500  sows.    Seaboard's
processing  plant  began  processing  hogs  produced  from   this
facility in January 2004.

     During the third quarter of 2003, Seaboard purchased certain
hog  production facilities previously leased under a master lease
arrangement.   These facilities supply approximately  5%  of  the
Seaboard-owned hogs processed at Seaboard's processing plant.

     In early 2003, individual legislative bills (the Bills) were
introduced   in   the   United  States  Senate   and   House   of
Representatives  which  include  a  provision  to  prohibit  meat
packers,  such as Seaboard, from owning or controlling  livestock
intended for slaughter.  The Bills also contain a transition rule
applicable  to  packers of pork providing for an  effective  date
which  is 18 months after enactment.  Similar language was passed
by the U.S. Senate in 2002 as part of the Senate's version of the
Farm Bill, but was eventually dropped in conference committee and
was not part of the final Farm Bill.

     If any of the Bills containing the proposed language becomes
law,  it  could  have a material adverse effect on Seaboard,  its
operations and its strategy of vertical integration in  the  pork
business.   Currently,  Seaboard  has  the  capacity  to  produce
approximately  three  and  one-half  million  hogs  per  year  at
facilities  it either owns or leases or at facilities  owned  and
operated by third-parties with whom it has grower contracts.   If
passed  in their current form, the Bills would prohibit  Seaboard
from   owning  or  controlling  hogs,  and  thus  would   require
divestiture of our operations, possibly at prices which are below
the  carrying  value of such assets as recorded  on  the  balance
sheet, or otherwise restructure its ownership and operation.

     The  Bills  could  also  be  construed  as  prohibiting   or
restricting   Seaboard  from  engaging  in  various   contractual
arrangements with third party hog producers, such as  traditional
contract finishing arrangements.  Accordingly, Seaboard's ability
to  contract  for  the supply of hogs to its processing  facility
could  be  significantly, negatively impacted.   Seaboard,  along
with  industry groups and other similarly situated companies  are
vigorously  lobbying against enactment of any  such  legislation.
However,   Management  cannot  presently  predict  the   ultimate
outcome.

<PAGE>  5

     The  economic  environment in the Dominican  Republic  (DR),
where  the  Power segment generates electricity from two  barges,
has  deteriorated throughout 2003.  As the local supply  of  U.S.
dollars has tightened throughout the year, the Dominican peso has
devalued  significantly during 2003.  Seaboard has  contracts  to
sell   approximately  50%  of  its  power  to  certain  qualified
commercial large users and another local generation company, with
the  remaining production sold on the spot market  to  a  limited
number of commercial and government-owned distribution companies.
The  liquidity problems of the local government have impaired its
ability  to  pay commercial creditors on a timely basis.   During
the  second  half  of 2003, trade receivables grew  substantially
from   the  government-owned  distribution  companies  and  other
companies that must also collect from the government in order  to
make  payments  on  their  accounts.  While  multilateral  credit
agencies  may eventually provide funding support to this  country
to  improve  liquidity,  management cannot  predict  if  adequate
funding  will  occur to fully resolve this situation  during  the
next  year.   As  a  result, similar to other  independent  power
producers,  Seaboard  began  to  fluctuate  its  level  of  power
generation  in  mid-December  2003  between  full  capacity   and
approximately   50%   based   on   management's   belief    about
collectibility.   With  the  exception  of  those  government  or
government-reliant   customers,  all  other  contract   customers
continue  to  pay their accounts timely.  Seaboard  continues  to
pursue other contract customers which would allow this segment to
increase  generation of power in the future and reduce dependency
on the government-owned distribution companies.

     During  the third quarter of 2003, Seaboard sold its  shrimp
farming  and  shrimp processing assets in exchange for  long-term
notes receivable.

     During 2002 and early 2003, Seaboard's equity investment  in
a  Bulgarian wine business (the Business) negotiated a series  of
extensions  when  it  was unable to make  a  scheduled  principal
payment  to  a  bank.   During the third  quarter  of  2003,  the
Business successfully negotiated a refinancing of certain of  its
debt.  As part of the refinancing, the bank forgave a portion  of
the  debt  and the Business sold certain assets, the proceeds  of
which  were  to  repay  a portion of the principal  balance  plus
accrued interest.

     During  the fourth quarter of 2003, Seaboard sold its equity
investment in Fjord Seafood ASA.

               (iii)  Sources and Availability of Raw Materials

     None  of  Seaboard's businesses utilize material amounts  of
raw  materials that are dependent on purchases from one  supplier
or a small group of dominant suppliers.

               (iv)   Patents, Trademarks, Licenses, Franchises and Concessions

     Seaboard uses the registered trademark of Seaboard.

     The Pork Division uses registered trademarks relating to its
products,  including  Seaboard  Farms,  Inc.,  Seaboard  Farms,
PrairieFresh,  and  A Taste Like No Other.  Seaboard  considers
the  use  of  these  trademarks important to  the  marketing  and
promotion of its' pork products.

     The  Marine  Division uses the trade name  Seaboard  Marine
which is also a registered trademark.  Seaboard believes there is
significant recognition of the Seaboard Marine trademark in  the
industry and by many of its customers.

     Part  of  the sales within the Sugar and Citrus segment  are
made  under  the  Chango brand in Argentina, where  this  segment
operates.   Local sales prices benefit from sugar  import  duties
imposed by the Argentine government, which affects the volume  of
sugar imported to that market.

     Seaboard's  Power  division  benefits  from  a  tax   exempt
concession  granted by the Dominican Republic government  through
2012.

     Patents,  trademarks, franchises, licenses  and  concessions
are not material to any of Seaboard's other segments.

               (v)    Seasonal Business

     Profits from processed pork are generally higher in the fall
months.  Sugar prices in Argentina are generally lower during the
typical  sugarcane  harvest  period between  June  and  November.
Seaboard's  other  segments are not seasonally dependent  to  any
material extent.

<PAGE>  6

               (vi)   Practices Relating to Working Capital Items

     There  are  no  unusual industry practices or  practices  of
Seaboard relating to working capital items.

               (vii)  Depending on a Single Customer or Few Customers

     Seaboard  does not have sales to any one customer  equal  to
10%  or  more of consolidated revenues.  The power segment  sells
power  in  the Dominican Republic to a limited number of contract
customers  and  on  the spot market accessed primarily  by  three
wholly or partially government-owned distribution companies.   Of
the  rated capacity of approximately 112 megawatts, approximately
50  megawatts are sold under a contract expiring in July 2004  to
one  independent power producer partially owned by a  government-
owned  electric company.  Because the demand for  power  in  this
country  exceeds  reliable supply, loss of  this  contract  would
result in additional spot market sales.

     Seaboard's  Produce  division  sells  nearly  all   of   its
processed  jalapeno  peppers to one  customer  under  a  contract
expiring  in  2006.  We do not believe the loss of this  customer
would  have  a material adverse effect on Seaboard's consolidated
financial  position or results of operations.  No other  segments
have  sales  to  a  few customers which, if lost,  would  have  a
material adverse effect on any such segment or on Seaboard  taken
as a whole.

               (viii) Backlog

     Backlog is not material to Seaboard businesses.

               (ix)   Government Contracts

     No material portion of Seaboard business involves government
contracts.

               (x)    Competitive Conditions

     Competition in Seaboard's Pork segment comes from a  variety
of  national  and  regional producers and is based  primarily  on
product  quality,  customer service and price.   According  to  a
recent  issue of Successful Farming, a trade publication,  and  a
ranking  prepared  on  behalf  of the  American  Meat  Institute,
Seaboard  ranks  as one of the nation's top five  pork  producers
(based  on sows in production) and top ten pork processors (based
on daily processing capacity).

     Seaboard's  ocean  liner service for  containerized  cargoes
faces  competition based on price and customer service.  Seaboard
believes  it  is among the top five ranking ocean liner  services
for  containerized cargoes in the Caribbean Basin based on  cargo
volume.

     Seaboard's  sugar  business owns one of  the  largest  sugar
mills  in  Argentina and faces significant competition for  sugar
sales  in  the local Argentine market.  Sugar prices in Argentina
are higher than world markets due to current Argentine government
price protection policies.

     Seaboard's  power  division  is  located  in  the  Dominican
Republic.  Power generated by this division is sold on  the  spot
market  or  to  contract customers at prices primarily  based  on
market conditions rather than cost-based rates.

               (xi)   Research and Development Activities

     Seaboard   does   not  engage  in  material   research   and
development activities.

               (xii)  Environmental Compliance

     Seaboard  is  subject to numerous Federal, state  and  local
provisions   relating  to  the  environment  which  require   the
expenditure  of  funds  in  the  ordinary  course  of   business.
Seaboard  does  not  anticipate  making  expenditures  for  these
purposes,  including  expenditures  with  respect  to  the  items
disclosed  in Item 3, Legal Proceedings, which, in the  aggregate
would  have  a  material or significant effect on the  Seaboard's
financial condition or results of operations.

<PAGE>  7

               (xiii) Number of Persons Employed by Registrant

     As   of   December   31,  2003,  Seaboard,  excluding   non-
consolidated  foreign affiliates, had 9,462  employees,  of  whom
5,329  were  employed in the United States.  Approximately  2,000
employees  in  Seaboard's  Pork  Division  and  approximately  10
employees   in  Seaboard's  Produce  Division  are   covered   by
collective   bargaining  agreements.   Seaboard   considers   its
employee relations to be satisfactory.

     (d)  Financial Information about Geographic Areas

     The financial information required by Item 1(d) of Form 10-K
relating  to export sales is incorporated herein by reference  to
Note 13 of Seaboard's Consolidated Financial Statements appearing
on   pages   48  through  52  of  Seaboard's  Annual  Report   to
Stockholders  furnished to the Commission pursuant to  Rule  14a-
3(b) and attached as Exhibit 13 to this report.

     Seaboard considers its relations with the governments of the
countries  in  which its foreign subsidiaries and affiliates  are
located  to  be  satisfactory, but these foreign  operations  are
subject  to risks of doing business in lesser-developed countries
which  are  subject  to  potential civil unrests  and  government
instabilities,    increasing   the    exposure    to    potential
expropriation, confiscation, war, insurrection, civil strife  and
revolution,   currency  inconvertibility  and  devaluation,   and
currency exchange controls.  To minimize certain of these  risks,
Seaboard  has insured certain investments in its affiliate  flour
mills  in  Angola, Democratic Republic of Congo, Haiti,  Lesotho,
Mozambique  and  Zambia,  to  the  extent  available  and  deemed
appropriate  against  certain of these risks  with  the  Overseas
Private  Investment Corporation, an agency of the  United  States
Government.   At the present time, Seaboard is experiencing  some
difficulty  in  Nigeria  in converting the  Naira  (the  Nigerian
currency) to U.S. Dollars and other hard currencies.  Also, Haiti
is  presently  experiencing  insurrection  and  civil  unrest  in
certain  parts of the country, but to date, this has not had  any
effect  on  Seaboard's flour milling operations in that  country.
These situations are not expected to have any material effect  on
Seaboard's  cash flow or results of operations.  At the  date  of
this  report,  Seaboard  is not aware  of  any  other  situations
referred  to  above  which  could  have  a  material  effect   on
Seaboard's business.

     (e)  Available Information

     Seaboard  electronically files with  the  Commission  annual
reports  on  Form 10-K, quarterly reports on Form  10-Q,  current
reports  on Form 8-K and amendments to those reports pursuant  to
Section 13(a) or 15(d) of the Exchange Act.  The public may  read
and  copy any materials filed with the Commission at their public
reference  room  located at Judiciary Plaza,  450  Fifth  Street,
N.W.,  Washington,  D.C. 20549.  The public  may  obtain  further
information  concerning  the  public  reference  room   and   any
applicable  copy  charges, as well as the  process  of  obtaining
copies of filed documents by calling the Commission at 1-800-SEC-
0330.

     The  Commission  maintains an Internet  site  that  contains
reports,  proxy and information statements, and other information
regarding  electronic filers at www.sec.gov.   Seaboard  provides
access to its most recent Form 10-K, 10-Q and 8-K reports on  its
Internet website, www.seaboardcorp.com, free of charge,  as  soon
as  reasonably practicable after those reports are electronically
filed with the Commission.

     Please  note  that any internet addresses provided  in  this
report are for information purposes only and are not intended  to
be  hyperlinks.   Accordingly, no information  provided  at  such
internet  addresses  is  intended or deemed  to  be  incorporated
herein by reference.

<PAGE>  8

Item 2.  Properties

     (1)  Pork

     Seaboard's  Pork  Division owns a hog  processing  plant  in
Guymon,  Oklahoma,  which opened in 1995,  with  a  double  shift
capacity  of  approximately four and one-half  million  hogs  per
year.   The  plant  is utilized at near capacity  throughout  the
year.   Seaboard's  hog  production  operations  consist  of  the
breeding and raising of approximately 3 million hogs annually  at
facilities it either owns or leases, or at facilities  owned  and
operated  by  third  parties with whom it has  grower  contracts.
Seaboard  has  recently completed expansion of the facilities  to
produce  an  additional  500,000 hogs  annually.   This  business
currently  operates six owned feed mills which  have  a  combined
capacity  to  produce approximately 1,700,000 tons of  formulated
feed  annually used primarily to support Seaboard's existing  hog
production,  and has the capability of supporting additional  hog
production  in  the  future.   These facilities  are  located  in
Oklahoma, Texas, Kansas and Colorado.

     (2)  Commodity Trading and Milling

     Seaboard's Commodity Trading and Milling Division  owns,  in
whole  or  in  part, grain-processing operations in 13  countries
which  have the capacity to mill approximately 5,500 metric  tons
of  wheat and maize per day.  In addition, Seaboard has feed mill
capacity  of  approximately 100 metric tons per hour  to  produce
formula  animal feed.  The milling operations located in  Angola,
Democratic  Republic  of Congo, Ecuador,  Guyana,  Haiti,  Kenya,
Lesotho,  Mozambique, Nigeria, Republic of Congo,  Sierra  Leone,
Uganda  and  Zambia  own  their facilities;  in  Kenya,  Lesotho,
Mozambique, Nigeria, Republic of Congo and Sierra Leone the  land
the  mills  are located on is leased under long-term  agreements.
Certain foreign milling operations may operate at less than  full
capacity  due  to low demand related to poor consumer  purchasing
power   and   imported  European-subsidized   finished   product.
Seaboard  also  owns seven 9,000 metric-ton deadweight  dry  bulk
carriers and "timecharters" (the charter of a vessel, whereby the
vessel  owner  is  responsible to provide the  captain  and  crew
necessary  to  operate the vessel), under short-term  agreements,
between  seven  and  sixteen  bulk  carrier  ocean  vessels  with
deadweights ranging from 8,000 to 60,000 metric tons.

     (3)  Marine

     Seaboard's  Marine  Division leases a  135,000  square  foot
warehouse  and  70 acres of port terminal land and facilities  in
Miami,  Florida  which  are  used  in  its  containerized   cargo
operations.   Seaboard  owns  seven  ocean  cargo  vessels   with
deadweights  ranging  from  2,813  to  14,545  metric  tons   and
timecharters,  under short-term agreements, between  fifteen  and
nineteen  containerized  ocean  cargo  vessels  with  deadweights
ranging  from  2,600 to 19,456 metric-tons.  This  business  also
"bareboat  charters"  (the  charter  of  a  vessel,  whereby  the
charterer  is  responsible for providing  the  captain  and  crew
necessary   to   operate  the  vessel),  under  long-term   lease
agreements,   three  containerized  ocean  cargo   vessels   with
deadweights ranging from 12,169 to 12,648 metric tons.   Seaboard
owns   or  leases  an  aggregate  of  approximately  30,000  dry,
refrigerated  and  specialized containers and related  equipment.
Seaboard  also  leases approximately 62 acre cargo  handling  and
terminal  facility in Houston, Texas, which includes several  on-
dock  warehouses  totaling over 690,000  square  feet  for  cargo
storage.

      (4) Sugar and Citrus

     Seaboard's   Argentine  Sugar  and  Citrus   Division   owns
approximately 40,000 acres of planted sugarcane and approximately
3,000 acres of orange groves.  In addition, this division owns  a
sugar  mill  with  a  capacity to process  approximately  180,000
metric tons of sugar per year, which is sufficient to process all
of  the  cane  harvested by this company and  certain  additional
quantities harvested on behalf of the third party farmers in  the
region.  The sugarcane fields and processing mill are located  in
northern  Argentina  in  the  Salta Province,  which  experiences
seasonal rainfalls that may limit the harvest season, which  then
affects  the duration of mill operations and quantities of  sugar
produced.

     This  division also owns a juice processing plant and  fresh
fruit  packaging  plant  with capacity to  produce  approximately
3,500  tons  of  concentrated  juice  and  package  approximately
300,000 boxes of fresh fruit annually.

<PAGE>  9

     (5)  Power

     Seaboard's  Power Division owns two floating electric  power
generating  facilities, consisting of a system of diesel  engines
mounted  onto barge-type vessels, with a combined rated  capacity
of  approximately 112 megawatts, both located on the Ozama  River
in  Santo  Domingo, Dominican Republic.  The barges  historically
generated  power  at near capacity throughout  the  year  as  the
demand for power in the Dominican Republic exceeds reliable power
supply  although Seaboard has curtailed production due to  recent
non-payment  by  certain  customers.   Seaboard  operates  as  an
independent   power  producer  and  is  not   involved   in   the
transmission and distribution facilities that deliver  the  power
to the end users.

     (6)  Other

     Seaboard owns a jalapeno pepper processing plant in Honduras
and  leases  40,000 square feet of refrigerated space and  70,000
square  feet  of  dry space in the Port of Miami for  warehousing
produce products.

     Management  believes that Seaboard's present facilities  are
adequate and suitable for its current purposes.

Item 3.  Legal Proceedings

Sierra Club Settlement

     In  order  to  settle threatened additional litigation  with
Sierra  Club,  Seaboard  agreed to conduct  an  investigation  to
determine  if  corrective  action  is  required  at  three  farms
purchased  from PIC located in Kingfisher and Major  Counties  in
Oklahoma  according  to  an agreed upon process.   Based  on  the
investigation,  it  has been determined that one  farm  does  not
require  any  corrective action, although  the  process  requires
additional limited testing of ground water monitoring wells.  The
investigation is ongoing at the remaining two farms,  and  it  is
unknown  if  any  remediation will be  required.   The  costs  of
conducting the monitoring and the investigation are not material.

Environmental  Protection  Agency (EPA)  and  State  of  Oklahoma
Claims Concerning Farms in Major and Kingfisher County, Oklahoma

     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  Seaboard  Farms,  Inc.  ("Seaboard   Farms"),
Shawnee Funding, Limited Partnership and PIC International Group,
Inc.  ("PIC")  (collectively,  "Respondents").   The  RCRA  Order
alleges  that  five  swine  farms located  in  Major  County  and
Kingfisher  County, Oklahoma purchased from PIC  are  causing  or
could  cause  contamination of the groundwater.  The  RCRA  Order
alleges  that,  as a result, Respondents have contributed  to  an
"imminent  and  substantial endangerment" within the  meaning  of
RCRA  from  the  leaking of solid waste in the lagoons  or  other
infrastructure at the farms.  The RCRA Order requires Respondents
to  develop and undertake a study to determine if there has  been
any  contamination from farm infrastructure, and if contamination
has  occurred, 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.

     On  July  23,  2002,  Seaboard Farms received  a  Notice  of
Violation  from  the  State of Oklahoma, alleging  that  Seaboard
Farms  has  violated  various provisions of  state  law  and  the
operating permits related to these same farms based on  the  same
conditions which gave rise to the RCRA Order.  In the  event  the
State brings an enforcement action, they have threatened to do so
as an administrative action in which they can seek administrative
penalties  of not more than $10,000 per day of noncompliance  and
can seek to assess violation points which could prohibit Seaboard
Farms from continuing to operate one or more of these farms.

     On  April  15,  2003, EPA sent a formal Notice of  Violation
letter  to  the  Respondents, alleging that the Respondents  have
failed  to  comply  with  the RCRA Order because  they  have  not
undertaken  an  investigation of land  on  which  Seaboard  Farms
spreads  effluent  originating from  the  five  facilities.   The
Respondents  believe that the Notice of Violation letter  has  no
merit  because the RCRA Order, by its terms, does not cover these
areas,  and  EPA  does not have jurisdiction to impose  the  RCRA
Order with respect to land application activities.

<PAGE>  10

     Seaboard  Farms  disputes the RCRA Order and  the  State  of
Oklahoma's  contentions  on legal and factual  grounds,  and  has
advised EPA that it won't comply with the RCRA Order, as written.
Notwithstanding, Seaboard Farms is cooperating with EPA  and  the
State of Oklahoma, and has had significant ongoing dialogue  with
EPA  and the State of Oklahoma in order to attempt to settle  the
RCRA  Order  and the Oklahoma Notice of Violation,  and  Seaboard
Farms  has undertaken an extensive investigation under  the  RCRA
Order.  EPA and the State of Oklahoma, they have advised Seaboard
Farms  that  one  additional farm in Kingfisher  County  must  be
included in any settlement, although neither agency has filed any
formal claims with respect to that farm..  No settlement has  yet
been reached with EPA or the State of Oklahoma.

     The  farms  that are the subject of the RCRA Order  and  the
allegations  by  the State of Oklahoma were previously  owned  by
PIC.  PIC is indemnifying Seaboard Farms with respect to the RCRA
Order  (reserving its right to contest the obligation to do  so),
pursuant  to an indemnification agreement which has a $5  million
limit.   PIC  has  advised Seaboard Farms that if the  settlement
being discussed with EPA and the State of Oklahoma is agreed  to,
PIC's  costs  will  exceed the $5 million limit,  but  not  by  a
material   amount.   Moreover,  Seaboard  Farms  disputes   PIC's
determination of the costs to be included in the calculation  and
believes   that  the  costs  to  be  considered  are  less   than
$5  million,  such that PIC is responsible for  all  such  costs.
Seaboard  Farms  also  believes that  a  more  general  indemnity
agreement would require indemnification of liability in excess of
$5  million, although PIC disputes this.  Seaboard Farms has also
demanded  that PIC provide indemnity and defense with respect  to
the  Notice  of  Violation  letter received  from  the  State  of
Oklahoma.   PIC is disputing its obligation to provide  indemnity
and defense with respect to this notice under both the $5 million
indemnification and the general indemnification, and this dispute
remains outstanding.

Potential Additional EPA Claims

     EPA  has  been conducting a broad-reaching investigation  of
Seaboard  Farms,  seeking information as to compliance  with  the
Clean  Water  Act  (CWA),  Comprehensive Environmental  Response,
Compensation  &  Liability Act (CERCLA) and the  Clean  Air  Act.
Through  Information Requests and farm inspections, EPA  obtained
information  that  may  be  related to  whether  Seaboard  Farms'
operations  are  discharging pollutants to waters of  the  United
States  in  violation  of  the  CWA, whether  National  Pollutant
Discharge  Elimination  System storm water  construction  permits
were  obtained, where required, whether there has  been  unlawful
filling of or discharge to "wetlands" within the jurisdiction  of
the  CWA,  whether Seaboard Farms has properly reported emissions
of  hazardous substances into the air under CERCLA,  and  whether
some  of  its  farms  may be emitting air  pollutants  at  levels
subject to Clean Air Act permitting requirements.  As a result of
the  investigation, EPA requested that Seaboard Farms  engage  in
settlement discussions to avoid further EPA investigative efforts
and  potential  formal  claims being filed.   EPA  has  presented
settlement demands, and Seaboard Farms has responded.  Management
believes  it  has  meritorious legal  and  factual  defenses  and
objections  to  EPA's  demands, but will continue  to  engage  in
settlement  discussions.  Such settlement discussions could  lead
to an enforceable settlement agreement.

     On April 2, 2002, the United States Environmental Protection
Agency  ("EPA") sent to Seaboard Farms a letter pursuant  to  the
Clean  Air Act ("CAA") demanding Seaboard Farms monitor emissions
at certain hog confinement facilities for purposes of determining
whether these operations are in compliance with the CAA.  The EPA
also  requested  that Seaboard Farms agree that these  facilities
are  comparable to all other facilities operated,  and  that  the
monitoring results can be reasonably extrapolated to estimate the
emissions for all other farms operated by Seaboard Farms.  If any
of  the  specified farms are not comparable, the letter  demanded
that  Seaboard  Farms  conduct monitoring at  those  farms.   The
letter  also  required  that Seaboard Farms  submit  a  plan  and
protocol  for  testing  for  emissions  of  particulate   matter,
volatile organic compounds and hydrogen sulfide.

     Although management believes that EPA's demand is beyond the
Agency's  authority pursuant to the CAA and that  Seaboard  Farms
cannot  be  required  to undertake the air  monitoring,  Seaboard
Farms is engaging in discussions with EPA to attempt to reach  an
agreement  that  will  be satisfactory to  EPA.   Seaboard  Farms
believes  that  the  costs  of  conducting  monitoring  under   a
negotiated plan will not be material.  If no agreement is reached
with EPA, EPA could bring a suit to enforce the provisions of the
letter,  and if a court were to determine that EPA is within  its
authority,  the  court  could impose a civil  penalty  of  up  to
$27,500  per  day  of non-compliance, and could order  injunctive
relief  requiring  that  Seaboard Farms conduct  the  monitoring.
Seaboard Farms believes the emissions from its hog operations  do
not require CAA permits.

<PAGE>  11

      On February 20, 2003, Seaboard Farms received an additional
Information Request from EPA seeking information as to compliance
with  the CWA by Seaboard Farms with respect to virtually all  of
its confined animal feeding operations.   Management has complied
with  the  Information Request.  At present, no relief  has  been
sought by the EPA.

     On  March  24,  2003, Seaboard Farms received an  additional
Information Request seeking information as to a hog  farm  and  a
feed  mill,  each located in Colorado.  The Company has  complied
with  the  Information Request.  At present, no relief  has  been
sought by the EPA.

     The  costs  incurred to comply with the various  Information
Requests from EPA are not material.

Other

     On  January 26, 2004,  the  U.S.  Department of Justice sent
Seaboard Marine, Ltd. a letter stating that it was  investigating
possible violations of  49 U.S.C.  Secs. 5104-5124  and 49 C.F.R.
Secs. 171-173   relating  to  the  transportation,   storage  and
discharge of hazardous materials.  The  letter  does  not specify
the  relief  sought,  but  threatens  prosecution.  Although  the
matter has not been fully investigated, Seaboard has been advised
that the assertions relate to a single 40 foot container  which a
customer  loaded  with  drums  containing  chemicals  to  produce
detergent.  After  taking  possession  of  the  loaded container,
Seaboard  Marine  refused  to  transport  it  to   the  requested
destination and returned it to the customer.

Item 4.  Submission of Matters to a Vote of Security Holders

     No matter was submitted to a vote of security holders during
the last quarter of the fiscal year covered by this report.

Executive Officers of Registrant

     The following table lists the executive officers and certain
significant  employees  of Seaboard.  Generally,  each  executive
officer  is  elected  at  the annual  meeting  of  the  Board  of
Directors following the Annual Meeting of Stockholders and  holds
his  office  until  the  next such annual meeting  or  until  his
successor   is   duly  chosen  and  qualified.   There   are   no
arrangements  or understandings pursuant to which  any  executive
officer was elected.

Name  (Age)               Positions and Offices with Registrant and Affiliates
H. Harry Bresky (78)      Chairman  of  the Board,  President  and
                          Chief Executive Officer of Seaboard;
                          Manager of Seaboard Flour LLC (SF)

Steven J. Bresky (50)     Senior Vice President, International Operations

Robert L. Steer (44)      Senior Vice President, Treasurer and
                          Chief Financial Officer

David M. Becker (42)      Vice President, General Counsel and Secretary

Barry E. Gum (37)         Vice President, Finance

James L. Gutsch (50)      Vice President, Engineering

Ralph L. Moss (58)        Vice President, Governmental Affairs

David S. Oswalt (36)      Vice President, Taxation and Business Development

John A. Virgo (43)        Vice President, Corporate Controller and
                          Chief Accounting Officer

Rodney K. Brenneman (39)  President, Seaboard Farms, Inc.

John Lynch (70)           President, Seaboard Marine Ltd.

     Mr.  H.  Harry  Bresky  has served as  President  and  Chief
Executive  Officer of Seaboard since February 2001 and previously
as  President  of Seaboard from 1967 to 2001.  He has  served  as
Manager of SF (previously Seaboard Flour Corporation) since 2002.
Previously  he served as President of Seaboard Flour  Corporation
from  1987  through  2002,  and as Treasurer  of  Seaboard  Flour
Corporation from 1973 through 2002.  Mr. Bresky is the father  of
Steven J. Bresky.

<PAGE>  12

     Mr.  Steven  J. Bresky has served as Senior Vice  President,
International  Operations of Seaboard  since  February  2001  and
previously as Vice President of Seaboard from 1989 to 2001.

     Mr. Steer has served as Senior Vice President, Treasurer and
Chief  Financial  Officer  of Seaboard since  February  2001  and
previously as Vice President, Chief Financial Officer of Seaboard
from 1998 to 2001.

     Mr. Becker has served as Vice President, General Counsel and
Secretary of Seaboard since December 2003, and previously as Vice
President, General Counsel and Assistant Secretary from  2001  to
2003.   He  served as General Counsel and Assistant Secretary  of
Seaboard from 1998 to 2001.

     Mr.  Gum  has served as Vice President, Finance of  Seaboard
since December 2003, previously as Director of Finance from  2000
to 2003 and prior to that as Finance Manager from 1999 to 2000.

     Mr.  Gutsch  has  served as Vice President,  Engineering  of
Seaboard since December 1998.

     Mr.  Moss has served as Vice President, Governmental Affairs
of  Seaboard  since  December 2003 and  previously  as  Director,
Government Affairs from 1993 to 2003.

     Mr.  Oswalt  has  served  as Vice  President,  Taxation  and
Business   Development  of  Seaboard  since  December  2003   and
previously as Director of Tax from 1995 to 2003.

     Mr. Virgo has served as Vice President, Corporate Controller
and  Chief Accounting Officer of Seaboard since December 2003 and
previously as Corporate Controller from 1996 to 2003.

     Mr.  Brenneman  has served as President of  Seaboard  Farms,
Inc.  since  June  2001  and previously  served  as  Senior  Vice
President  and  Chief Financial Officer of Seaboard  Farms,  Inc.
from 1997 to 2001.

     Mr.  Lynch has served as President of Seaboard Marine,  Ltd.
since 1998.

                             PART II

Item  5.   Market  for  Registrant's Common  Equity  and  Related
           Stockholder Matters

     Seaboard's  Board  of Directors intends that  Seaboard  will
continue  to pay quarterly dividends, with the actual  amount  of
any  dividends  being dependant upon such factors  as  Seaboard's
financial  condition,  results  of  operations  and  current  and
anticipated  cash  needs,  including  capital  requirements.   As
discussed  in  Note  8  of the consolidated financial  statements
appearing  on pages 39 and 40 of the Seaboard Corporation  Annual
Report  to  Stockholders furnished to the Commission pursuant  to
Rule  14a-3(b)  and  attached  as  Exhibit  13  to  this  Report,
Seaboard's  ability to declare and pay dividends  is  subject  to
limitations imposed by the note agreements referred to there.

     Seaboard  has not established any equity compensation  plans
for  its  employees under which options, rights or warrants  with
respect to Seaboard common stock may be granted.

     There were no purchases made by or on behalf of Seaboard  or
any "affiliated purchaser" (as defined by applicable rules of the
Commission)  of  shares  of Seaboard's common  stock  during  the
fourth quarter of the fiscal year covered by this report.

     In   addition  to  the  information  provided   above,   the
information  required  by  Item 5 of Form  10-K  is  incorporated
herein  by reference to (a) the information under "Stock Listing"
and  (b)  the dividends per common share information  and  market
price   range  per  common  share  information  under  "Quarterly
Financial  Data"  appearing on pages 53 and 8,  respectively,  of
Seaboard's  Annual  Report  to  Stockholders  furnished  to   the
Commission  pursuant to Rule 14a-3(b) and attached as Exhibit  13
to this report.

Item 6.  Selected Financial Data

     The  information  required  by  Item  6  of  Form  10-K   is
incorporated  herein  by reference to the  "Summary  of  Selected
Financial  Data" appearing on page 7 of Seaboard's Annual  Report
to Stockholders furnished to the Commission pursuant to Rule 14a-
3(b) and attached as Exhibit 13 of this Report.

<PAGE>  13

Item  7.   Management's  Discussion  and  Analysis  of  Financial
           Condition and Results of Operations

     The  information  required  by  Item  7  of  Form  10-K   is
incorporated herein by reference to "Management's Discussion  and
Analysis  of  Financial  Condition  and  Results  of  Operations"
appearing  on pages 9 through 23 of Seaboard's Annual  Report  to
Stockholders  furnished to the Commission pursuant to  Rule  14a-
3(b) and attached as Exhibit 13 to this Report.

Item  7A.  Quantitative and Qualitative Disclosures About  Market Risk

     The  information  required  by  Item  7A  of  Form  10-K  is
incorporated  herein by reference to (a) the material  under  the
captions  "Derivative Instruments and Hedging Activities"  within
Note  1 of Seaboard's Consolidated Financial Statements appearing
on page 31, and (b) to the material under the caption "Derivative
Information"  within  "Management's Discussion  and  Analysis  of
Financial Condition and Results of Operations" appearing on pages
21  through  23  of  Seaboard's  Annual  Report  to  Stockholders
furnished  to  the  Commission  pursuant  to  Rule  14a-3(b)  and
attached as Exhibit 13 to this Report.

Item 8.  Financial Statements and Supplementary Data

     The  information  required  by  Item  8  of  Form  10-K   is
incorporated   herein  by  reference  to  Seaboard's   "Quarterly
Financial  Data,"  "Independent Auditors' Report,"  "Consolidated
Balance   Sheets,"   "Consolidated   Statements   of   Earnings,"
"Consolidated  Statements  of Changes in  Equity,"  "Consolidated
Statements  of  Cash Flows" and "Notes to Consolidated  Financial
Statements"  appearing  on page 8 and  pages  24  through  52  of
Seaboard's  Annual  Report  to  Stockholders  furnished  to   the
Commission  pursuant to Rule 14a-3(b) and attached as Exhibit  13
to this Report.

Item  9.   Changes  in  and  Disagreements  with  Accountants  on
           Accounting and Financial Disclosure

     Not applicable.

Item 9A.  Controls and Procedures

     Seaboard's management has evaluated, under the direction  of
our   chief   executive   and  chief  financial   officers,   the
effectiveness of Seaboard's disclosure controls and procedures as
of  December  31, 2003.  Based upon and as of the  date  of  that
evaluation,  Seaboard's  chief  executive  and  chief   financial
officers  concluded  that  Seaboard's  disclosure  controls   and
procedures were effective to ensure that information required  to
be  disclosed  in  the  reports it files and  submits  under  the
Securities   Exchange   Act  of  1934  is  recorded,   processed,
summarized and reported as and when required.  It should be noted
that  any  system of disclosure controls and procedures,  however
well designed and operated, can provide only reasonable, and  not
absolute,  assurance that the objectives of the system  are  met.
In  addition, the design of any system of disclosure controls and
procedures is based in part upon assumptions about the likelihood
of   future   events.   Because  of  these  and  other   inherent
limitations  of  any such system, there can be no assurance  that
any  design  will  always succeed in achieving its  stated  goals
under all potential future conditions, regardless of how remote.

     There has been no change in Seaboard's internal control over
financial reporting that occurred during the fiscal quarter ended
December  31, 2003 that has materially affected, or is reasonably
likely  to  materially affect, Seaboard's internal  control  over
financial reporting.

<PAGE>  14

                            PART III

Item 10.  Directors and Executive Officers of the Registrant

     We refer you to the information under the caption "Executive
Officers  of  Registrant"  appearing  immediately  following  the
disclosure in Item 4 of Part I of this report.

     Seaboard  has adopted a code of business conduct and  ethics
for  directors, officers (including our chief executive  officer,
chief financial officer, chief accounting officer, controller and
persons  performing similar functions) and employees.  A copy  of
this  code of business conduct and ethics is attached as  Exhibit
14 to this Report.

     In   addition  to  the  information  provided   above,   the
information  required  by Item 10 of Form  10-K  is  incorporated
herein  by  reference to (a) the disclosure relating to directors
under "Item 1:  Election of Directors" appearing on page 5 of the
2004  Proxy  statement, (b) the disclosure relating to Seaboard's
audit  committee and "audit committee financial expert"  and  its
director  nomination procedures under "Meetings of the  Board  of
Directors and Committees -- Committees of the Board" appearing on
pages  6  and  7  of Seaboard's definitive proxy statement  filed
pursuant  to  Regulation  14A  for the  2004  annual  meeting  of
Stockholders  ("2004 Proxy Statement"), and  (c)  the  disclosure
relating to late filings of

reports required under Section  16(a) of the Securities  Exchange
Act of 1934  under  "Section 16(a) Beneficial Ownership Reporting
Compliance" appearing on  page  19 of the 2004 Proxy Statement.

Item 11.  Executive Compensation

     The  information  required  by  Item  11  of  Form  10-K  is
incorporated  herein by reference to (a) the disclosure  relating
to  compensation  of directors under "Meetings of  the  Board  of
Directors and Committees -- Committees of the Board" appearing on
pages 6 and 7 of the 2004 Proxy statement, and (b) the disclosure
relating  to compensation of executive officers under  "Executive
Compensation  and  Other  Information,"  "Retirement  Plans"  and
"Compensation  Committee  Interlocks and  Insider  Participation"
appearing  on  pages 7 through 11 and page 14 of the  2004  Proxy
Statement.

Item  12.   Security Ownership of Certain Beneficial  Owners  and
            Management

     Seaboard  has not established any equity compensation  plans
for  its  employees under which options, rights or warrants  with
respect to Seaboard common stock may be granted.

     In   addition  to  the  information  provided   above,   the
information  required  by Item 12 of  Form 10-K  is  incorporated
herein   by   reference  to  the  disclosure   under   "Principal
Stockholders"  and "Share Ownership of Management and  Directors"
appearing on pages 3 and 4 of the 2004 Proxy Statement.

Item 13.  Certain Relationships and Related Transactions

     The  information  required  by  Item  13  of  Form  10-K  is
incorporated  herein  by  reference  to  "Compensation  Committee
Interlocks and Insider Participation" appearing on page 14 of the
2004 Proxy Statement.

Item 14.  Principal Accounting Fees and Services

     The  information  required  by  Item  14  of  Form  10-K  is
incorporated  herein  by  reference  to  "Item  2   Selection  of
Independent  Auditors" appearing on pages 15 and 16 of  the  2004
Proxy Statement.



                             PART IV

Item 15.  Exhibits, Financial Statement Schedules, and Reports on Form 8-K

     (a)  The following documents are filed as part of this report:

          1.   Consolidated financial statements.

<PAGE>  15

               See Index to Consolidated Financial Statements on
               page F-1.

          2.   Consolidated financial statement schedules.
               See Index to Consolidated Financial Statements on
               page F-1.

          3.   Exhibits.

               3.1   Seaboard's Certificate of Incorporation, as
                     amended.  Incorporated herein by reference to
                     Exhibit 3.1 of Seaboard's Annual Report on
                     Form 10-K for the fiscal year ended
                     December 31, 1992.

               3.2   Seaboard's By-laws, as amended.  Incorporated
                     herein by reference to Exhibit 3.2 of
                     Seaboard's Annual Report on Form 10-K for the
                     fiscal year ended December 31, 2001.

               4.1   Note Purchase Agreement dated
                     December 1, 1993 between Seaboard and various
                     purchasers as listed in the exhibit.
                     Incorporated herein by reference to Exhibit
                     4.1 of Seaboard's Annual Report on Form 10-K
                     for the fiscal year ended December 31, 1993.
                     The Annexes and Exhibits to the Note Purchase
                     Agreement have been omitted from the filing,
                     but will be provided supplementally upon
                     request of the Commission.

               4.2   Seaboard Corporation 6.49% Senior Note Due
                     December 1, 2005 issued pursuant to the Note
                     Purchase Agreement described above.
                     Incorporated herein by reference to Exhibit
                     4.2 of Seaboard's Annual Report on Form 10-K
                     for the fiscal year ended December 31, 1993.

               4.3   Note Purchase Agreement dated June 1, 1995
                     between Seaboard and various purchasers as
                     listed in the exhibit.  Incorporated herein
                     by reference to Exhibit 4.3 of Seaboard's
                     Form 10-Q for the quarter ended
                     September 9, 1995.  The Annexes and Exhibits
                     to the Note Purchase Agreement have been
                     omitted from the filing, but will be provided
                     supplementally upon request of the
                     Commission.

               4.4   Seaboard Corporation 7.88% Senior Note Due
                     June 1, 2007 issued pursuant to the Note
                     Purchase Agreement described above.
                     Incorporated herein by reference to Exhibit
                     4.4 of Seaboard's Form 10-Q for the quarter
                     ended September 9, 1995.

               4.5   Seaboard Corporation Note Agreement dated as
                     of December 1, 1993 ($100,000,000 Senior
                     Notes due December 1, 2005).  First Amendment
                     to Note Agreement.  Incorporated herein by
                     reference to Exhibit 4.7 of Seaboard's Form
                     10-Q for the quarter ended March 23, 1996.

               4.6   Seaboard Corporation Note Agreement dated as
                     of June 1, 1995 ($125,000,000 Senior Notes
                     due June 1, 2007).  First Amendment to Note
                     Agreement.  Incorporated herein by reference
                     to Exhibit 4.8 of Seaboard's Form 10-Q for
                     the quarter ended March 23, 1996.

               4.7   Second Amendment to the Note Purchase
                     Agreements dated as of December 1, 1993
                     ($100,000,000 Senior Notes due December 1,
                     2005).  Incorporated herein by reference to
                     Exhibit 4.1 of Seaboard's Form 10-Q for the
                     quarter ended September 28, 2002.

               4.8   Second Amendment to the Note Purchase
                     Agreements dated as of June 1, 1995
                     ($125,000,000 Senior Notes due June 1, 2007).
                     Incorporated herein by reference to Exhibit
                     4.2 of Seaboard's Form 10-Q for the quarter
                     ended September 28, 2002.

<PAGE>  16

               4.9   Seaboard Corporation Note Purchase Agreement
                     dated as of September 30, 2002 between
                     Seaboard and various purchasers as listed in
                     the exhibit.  Incorporated herein by
                     reference to Exhibit 4.3 of Seaboard's Form
                     10-Q for the quarter ended September 28,
                     2002.  The Annexes and Exhibits to the Note
                     Purchase Agreement have been omitted from the
                     filing, but will be provided supplementally
                     upon request of the Commission.

               4.10  Seaboard Corporation $32,500,000 5.8% Senior
                     Note, Series A, due September 30, 2009
                     issued pursuant to the Note Purchase
                     Agreement described above.  Incorporated
                     herein by reference to Exhibit 4.4 of
                     Seaboard's Form 10-Q for the quarter ended
                     September 28, 2002.

               4.11  Seaboard Corporation $38,000,000 6.21% Senior
                     Note, Series B, due September 30, 2009
                     issued pursuant to the Note Purchase
                     Agreement described above.  Incorporated
                     herein by reference to Exhibit 4.5 of
                     Seaboard's Form 10-Q for the quarter ended
                     September 28, 2002.

               4.12  Seaboard Corporation $7,500,000 6.21% Senior
                     Note, Series C, due September 30, 2012
                     issued pursuant to the Note Purchase
                     Agreement described above.  Incorporated
                     herein by reference to Exhibit 4.6 of
                     Seaboard's Form 10-Q for the quarter ended
                     September 28, 2002.

               4.13  Seaboard Corporation $31,000,000 6.92% Senior
                     Note, Series D, due September 30, 2012
                     issued pursuant to the Note Purchase
                     Agreement described above.  Incorporated
                     herein by reference to Exhibit 4.7 of
                     Seaboard's Form 10-Q for the quarter ended
                     September 28, 2002.

               *10.1 Seaboard's Executive Retirement Plan
                     dated January 1, 1997.  The addenda have been
                     omitted from the filing, but will be provided
                     supplementary upon request of the Commission.
                     Incorporated herein by reference to Exhibit
                     10.1 of Seaboard's Annual Report on Form 10-K
                     for the fiscal year ended December 31, 1997.

               *10.2 Seaboard's Supplemental Executive
                     Benefit Plan as Amended and Restated.
                     Incorporated herein by reference to Exhibit
                     10.2 of Seaboard's Form 10-K for fiscal year
                     ended December 31, 2000.

               *10.3 Seaboard's Supplemental Executive
                     Retirement Plan for H. Harry Bresky dated
                     March 21, 1995.  Incorporated herein by
                     reference to Exhibit 10.3 of Seaboard's
                     Annual Report on Form 10-K for the fiscal
                     year ended December 31, 1995.

               *10.4 Seaboard's Executive Deferred
                     Compensation Plan dated January 1, 1999.
                     Incorporated herein by reference to Exhibit
                     10.1 of Seaboard's Form 10-Q for the quarter
                     ended March 31, 1999.

               *10.5 First Amendment to Seaboard's Executive
                     Retirement Plan as Amended and Restated
                     January 1, 1997, dated February 28, 2001,
                     amending Seaboard's Executive Retirement Plan
                     dated January 1, 1997 referenced as Exhibit
                     10.1.  Incorporated herein by reference to
                     Exhibit 10.6 of Seaboard's Form 10-K for
                     fiscal year ended December 31, 2000.

               *10.6 Seaboard's Investment Option Plan dated
                     December 18, 2000.  Incorporated herein by
                     reference to Exhibit 10.7 of Seaboard's Form
                     10-K for fiscal year ended December 31, 2000.

               10.7  Reorganization Agreement by and between
                     Seaboard Corporation and Seaboard Flour
                     Corporation as of October 18, 2002.
                     Incorporated herein by reference to
                     Exhibit 10.1 of the Form 8-K dated
                     October 18, 2002.

<PAGE>  17

               10.8  Purchase and Sale Agreement dated October 18,
                     2002 by and between Flour Holdings LLC and
                     Seaboard Flour Corporation with respect to
                     which the "Earnout Payments" thereunder have
                     been assigned to Seaboard Corporation.
                     Incorporated herein by reference to Exhibit
                     10.2 of Seaboard's Form 10-Q for the quarter
                     ended September 28, 2002.

               10.9  Marketing Agreement dated February 2, 2004 by
                     and among Seaboard Corporation, Seaboard
                     Farms, Inc., Triumph Foods LLC, and for
                     certain limited purposes only, the members of
                     Triumph Foods LLC.  Incorporated herein by
                     reference to Exhibit 10.2 of Seaboard's Form
                     8-K dated February 3, 2004.

               13    Sections of Annual Report to security holders
                     specifically incorporated herein by reference
                     herein.

               14    Code of Ethics.

               21    List of subsidiaries.

               31.1  Certification of the Chief Executive Officer
                     Pursuant to Exchange Act Rules 13a-14(a)/15d-
                     14(a), as Adopted Pursuant to Section 302 of
                     the Sarbanes-Oxley Act of 2002.

               31.2  Certification of the Chief Financial Officer
                     Pursuant to Exchange Act Rules 13a-14(a)/15d-
                     14(a), as Adopted Pursuant to Section 302 of
                     the Sarbanes-Oxley Act of 2002.

               32.1  Certification of the Chief Executive Officer
                     Pursuant to 18 U.S.C. Section 1350, as
                     Adopted Pursuant to Section 906 of the
                     Sarbanes-Oxley Act of 2002.

               32.2  Certification of the Chief Financial Officer
                     Pursuant to 18 U.S.C. Section 1350, as
                     Adopted Pursuant to Section 906 of the
                     Sarbanes-Oxley Act of 2002.

               * Management contract or compensatory plan or arrangement.

     (b)  Reports on Form 8-K

          (i)   Form 8-K dated November 4, 2003, filed with the
                Commission on November 4, 2003 with respect to
                Items 7 and 12 to report Seaboard's issuance of a
                press release dated November 4, 2003 announcing
                earnings for the third quarter ended September 27,
                2003.

          (ii)  Form 8-K dated December 3, 2003, filed with the
                Commission on December 3, 2003 with respect to
                Item 5 to report that Seaboard had completed the
                sale of 100% of its equity interest in Fjord
                Seafood ASA.

          (iii) Form 8-K dated December 3, 2003, filed with
                the Commission on December 5, 2003 with respect to
                Items 2 and 7 to report that Seaboard had
                completed the sale of 100% of its equity interest
                in Fjord Seafood ASA through a private placement
                by an investment banker to unknown third parties,
                and to furnish pro forma financial information.

     (c)  Exhibits.

          See exhibits identified above under Item 15(a)3.

     (d)  Financial Statement Schedules.

          See financial statement schedules identified above
          under Item 15(a)2.

<PAGE>  18

                           SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, Seaboard has duly caused this
report to be signed on its behalf by the undersigned, thereunto
duly authorized.

                      SEABOARD CORPORATION

By /s/H. H. Bresky                   By /s/Robert L. Steer
   H. H. Bresky, President and Chief    Robert L. Steer, Senior Vice President,
   Executive Officer                    Treasurer and Chief Financial Officer
   (principal executive officer)        (principal financial officer)

Date:  February 27, 2004             Date:  February 27, 2004



By /s/John A. Virgo
   John A. Virgo, Vice President, Corporate
   Controller and Chief Accounting Officer
   (principal accounting officer)

Date:  February 27, 2004



     Pursuant to the requirements of the Securities Exchange Act
of 1934, this report has been signed below by the following
persons on behalf of Registrant and in the capacities and on the
dates indicated.

By /s/H. H. Bresky                   By  /s/Kevin M. Kennedy
   H. H. Bresky, Director and            Kevin M. Kennedy, Director
   Chairman of the Board

Date:  February 27, 2004             Date:  February 27, 2004



By /s/David A. Adamsen               By  /s/J.E. Rodrigues
   David A. Adamsen, Director            J.E. Rodrigues, Director

Date:  February 27, 2004             Date:  February 27, 2004



By /s/Douglas W. Baena
   Douglas W. Baena, Director

Date:  February 27, 2004

<PAGE>  19




              SEABOARD CORPORATION AND SUBSIDIARIES
     Index to Consolidated Financial Statements and Schedule
                      Financial Statements


                                                         Stockholders'
                                                       Annual Report Page
Independent Auditors' Report                                   24

Consolidated Balance Sheets as of December 31, 2003
 and December 31, 2002                                         25

Consolidated Statements of Earnings for the years
 ended December 31, 2003, December 31, 2002 and
 December 31, 2001                                             26

Consolidated Statements of Changes in Equity for the
 years ended December 31, 2003, December 31, 2002 and
 December 31, 2001                                             27

Consolidated Statements of Cash Flows for the years
 ended December 31, 2003, December 31, 2002 and
 December 31, 2001                                             28

Notes to Consolidated Financial Statements                     29

The foregoing are incorporated herein by reference.

The individual financial statements of the nonconsolidated
foreign affiliates, which would be required if each such foreign
affiliate were a Registrant, are omitted because (a) Seaboard's
and its other subsidiaries' investments in and advances to such
foreign affiliates do not exceed 20% of the total assets as shown
by the most recent consolidated balance sheet and (b) Seaboard's
and its other subsidiaries' equity in the earnings before income
taxes and extraordinary items of the foreign affiliates does not
exceed 20% of such income of Seaboard and consolidated
subsidiaries compared to the average income for the last five
fiscal years.

Combined condensed financial information as to assets,
liabilities and results of operations have been presented for
nonconsolidated foreign affiliates in Note 5 of "Notes to the
Consolidated Financial Statements."

II - Valuation and Qualifying Accounts for the years ended
     December 31, 2003, 2002 and 2001                          F-3

All other schedules are omitted as the required information is
inapplicable or the information is presented in the consolidated
financial statements or related consolidated notes.

<PAGE>  F-1

                  INDEPENDENT AUDITORS' REPORT

The Board of Directors and Stockholders
Seaboard Corporation:

Under  date of February 23, 2004, we reported on the consolidated
balance  sheets  of  Seaboard Corporation and  subsidiaries  (the
Company)  as  of  December 31, 2003 and  2002,  and  the  related
consolidated statements of earnings, changes in equity  and  cash
flows  for  each  of  the  years in the three-year  period  ended
December  31, 2003, as contained in the December 31, 2003  annual
report  to stockholders.  These consolidated financial statements
and  our  report  thereon are incorporated by  reference  in  the
annual report on Form 10-K for the year ended December 31,  2003.
Our  reported  dated  February 23, 2004 contains  an  explanatory
paragraph  that  states  that the Company  adopted  Statement  of
Financial  Standards  No. 143, "Accounting for  Asset  Retirement
Obligations,"  and FASB Interpretation No. 46, "Consolidation  of
Variable Interest Entities," and changed its method of accounting
for  costs  expected  to be incurred during  regularly  scheduled
drydocking  of  vessels from the accrual method  to  the  direct-
expense  method in 2003.  In connection with our  audits  of  the
aforementioned consolidated financial statements, we also audited
the  related consolidated financial statement schedule as  listed
in  the accompanying index.  This financial statement schedule is
the    responsibility   of   the   Company's   management.    Our
responsibility  is  to  express  an  opinion  on  this  financial
statement schedule based on our audits.

In   our   opinion,  such  financial  statement  schedule,   when
considered  in  relation  to  the  basic  consolidated  financial
statements  taken as a whole, presents fairly,  in  all  material
respects, the information set forth therein.

                                   KPMG LLP

Kansas City, Missouri
February 23, 2004

<PAGE>  F-2


<TABLE>
<CAPTION>
                                                      Schedule II
              SEABOARD CORPORATION AND SUBSIDIARIES
                Valuation and Qualifying Accounts
                         (In Thousands)



                                  Balance at      Provision    Write-offs net   Accounting   Balance at
                               beginning of year     (1)        of recoveries   Changes (2)  end of year
<S>                                <C>              <C>            <C>            <C>          <C>
Year ended December 31, 2003:

  Allowance for doubtful accounts  $16,178          8,473          (1,292)             -       $23,359

  Drydock accrual                  $ 6,393              -               -         (6,393)      $     -

Year ended December 31, 2002:

  Allowance for doubtful accounts  $20,571             62          (4,455)             -       $16,178

  Drydock accrual                  $ 6,052          3,709          (3,368)             -       $ 6,393

Year ended December 31, 2001:

  Allowance for doubtful accounts  $29,801            206          (9,436)             -       $20,571

  Drydock accrual                  $ 5,496          5,356          (4,800)             -       $ 6,052


<FN>
(1)  The allowance for doubtful accounts provision is charged  to
selling,  general and administrative expenses.  Through  December
31, 2002, the provision for drydock was charged to cost of sales.

(2)   Effective January 1, 2003, Seaboard changed its  method  of
accounting  for  drydock maintenance costs  from  the  accrue-in-
advance  method  to  the direct-expense  method.   As  a  result,
Seaboard  reversed  its  allowance  for  drydock  accrual  as   a
cumulative effect of a change in accounting principle.
</TABLE>

<PAGE>  F-3

</TEXT>
</DOCUMENT>
