<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.txt
<DESCRIPTION>PRESS RELEASE OF SEABOARD CORPORATION
<TEXT>


                                                                Exhibit 99.1

                               PRESS RELEASE
                            REPORT OF EARNINGS

                                                                May 7, 2004
                                                    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 April 3, 2004 and  March
29, 2003, in thousands of dollars except per share amounts.

                                                          Three Months Ended
                                                         April 3,    March 29,
                                                           2004        2003

Net sales                                              $  615,675  $  461,867

Earnings (loss) before cumulative effect of changes
 in accounting principles                                  27,377        (933)

Cumulative effect of changes in accounting for asset
 retirement obligations and dry-dock accruals, net of
 income tax expense of $550                                    -        3,648

Net earnings                                           $   27,377  $    2,715

Earnings (loss) per share before cumulative effect of
 changes in accounting principles                      $    21.81  $    (0.74)

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

Net earnings per common share                          $    21.81  $     2.16

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


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) or $1.07 per common share.

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 first quarter
of 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 tax) or $3.97 per common share.

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</DOCUMENT>
