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


                                                               Exhibit 99.1

                               PRESS RELEASE

                Seaboard Corporation (AMEX:  SEB) Announces
            Repurchase of Equity Interest in Seaboard Foods LP


                                                          December 29, 2006
                                                            Merriam, Kansas


As  previously  disclosed,  a portion of the purchase  price  for  Seaboard
Corporation's July 2005 acquisition of Daily's consisted of a 4.74%  equity
interest  in  Seaboard  Foods LP (previously Seaboard  Farms,  Inc.).   The
former  owners of Daily's also received an option to put their 4.74% equity
interest back to Seaboard after two years for the greater of $40 million or
a formula-determined value as of the put date.

On  December 27, 2006, Seaboard entered into a Purchase Agreement with  the
former  owners  of  Daily's for Seaboard's repurchase of the  4.74%  equity
interest  in Seaboard Foods effective January 1, 2007.  Under this Purchase
Agreement, on January 2, 2007 Seaboard will pay $30 million of the purchase
price  for  the  4.74%  equity interest to the former  owners  of  Daily's.
Seaboard  will  pay  the  balance of the purchase price  in  August,  2007,
currently  estimated  based  on the formula to  be  an  additional  $10-$40
million  depending on operating results and certain net cash flows  through
June  30, 2007.  The total purchase price for the 4.74% equity interest  is
equal to:

   - the greater of $40 million or the same formula-determined value of the
     original put option, determined as of June 30, 2007; less

   - the  amount  of interest which accrues on the initial  $30  million
     portion of the purchase from January 2, 2007 through the date on which the
     balance of the purchase price is paid.

Seaboard  Corporation  is  a  diversified  international  agribusiness  and
transportation  company, primarily engaged in domestic pork production  and
processing and cargo shipping.  Overseas, Seaboard is primarily engaged  in
commodity  merchandising, flour and feed milling,  produce  farming,  sugar
production and electric power generation.




</TEXT>
</DOCUMENT>
