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<SEC-DOCUMENT>0000088121-10-000013.txt : 20101206
<SEC-HEADER>0000088121-10-000013.hdr.sgml : 20101206
<ACCEPTANCE-DATETIME>20101206164703
ACCESSION NUMBER:		0000088121-10-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20101206
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20101206
DATE AS OF CHANGE:		20101206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEABOARD CORP /DE/
		CENTRAL INDEX KEY:			0000088121
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		IRS NUMBER:				042260388
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03390
		FILM NUMBER:		101234674

	BUSINESS ADDRESS:	
		STREET 1:		9000 W. 67TH STREET
		CITY:			SHAWNEE MISSION
		STATE:			KS
		ZIP:			66202
		BUSINESS PHONE:		9136768800

	MAIL ADDRESS:	
		STREET 1:		9000 W. 67TH STREET
		CITY:			SHAWNEE MISSION
		STATE:			KS
		ZIP:			66202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SEABOARD ALLIED MILLING CORP
		DATE OF NAME CHANGE:	19820328

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HATHAWAY BAKERIES INC
		DATE OF NAME CHANGE:	19710315
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k812610.txt
<DESCRIPTION>SEABAORD CORPORATION 8-K DATED 12-6-2010
<TEXT>



                             UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549



                               FORM 8-K

                            CURRENT REPORT



PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


   Date of Report (Date of earliest event reported) December 6, 2010


                         Seaboard Corporation
        (Exact name of registrant as specified in its charter)


      Delaware                     1-3390            04-2260388
(State or other jurisdiction of   Commission       (I.R.S. Employer
 incorporation)                  File Number)     Identification No.)


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 or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 8.01 Other Events

On  December 6, 2010, Seaboard Corporation completed the acquisition  of  a
50 percent non-controlling interest in Butterball, LLC ("Butterball") for a
cash  purchase  price  of  $177.5  million.   Butterball  is  a  vertically
integrated producer, processor and marketer of branded turkeys, turkey meat
and  parts.   The other 50 percent interest in Butterball continues  to  be
owned  by  Maxwell  Farms, LLC, a North Carolina limited liability  company
("Maxwell").  In connection with the purchase, Butterball acquired the live
turkey  growing  and  related  assets of an affiliate  of  Maxwell  and  of
Murphy-Brown LLC ("Murphy Brown") (a subsidiary of Smithfield Foods,  Inc.,
which  previously  owned a 49 percent interest in Butterball).   Butterball
previously  purchased turkeys from the Maxwell affiliate and  Murphy  Brown
for processing.

In  connection with the purchase, Seaboard provided Butterball with a  $100
million unsecured subordinated loan (the "Subordinated Loan") in accordance
with  the  terms  previously disclosed.  In connection with  providing  the
Subordinated  Loan,  Seaboard  received  detachable  warrants,  which  upon
exercise  for  a  nominal exercise price, enables Seaboard  to  acquire  an
additional  five percent of the equity of Butterball, subject to Butterball
having  the  right  to repurchase the warrant for fair market  value.   The
warrant  agreement  essentially  provides  Seaboard  with  a  52.5  percent
economic  interest as these warrants are in-substance an additional  equity
interest.   However,  all  significant corporate governance  matters  would
continue  to  be shared equally between Seaboard and Maxwell  even  if  the
warrants are exercised by Seaboard, unless Seaboard already owns a majority
of the voting rights at the time of exercise.

Butterball also obtained a $300 million senior secured credit loan ("Senior
Credit  Loan"")  comprised of a term loan facility of $150  million  and  a
revolving credit facility of $150 million, with a five year term.  Seaboard
previously  disclosed that it had committed to provide  this  financing  if
third party financing could not be obtained.

The  foregoing  is  a  summary  and does  not  purport  to  be  a  complete
description of all terms and conditions of the Purchase Agreement  and  the
other agreements entered into in connection with the acquisition.

On  December  6,  2010,  Seaboard issued a  press  release  announcing  the
acquisition  of  the interest in Butterball, LLC.  The full  text  of  this
press release is included as Exhibit 99.1 to this Current Report on Form 8-
K and is incorporated herein by reference.

Also  on  December 6, 2010, Registrant issued a press release announcing  a
declaration of dividend. The full text of this press release is included as
Exhibit 99.2 to this Current Report on Form 8-K.

Forward-Looking Statements

This  current  report  on  Form 8-K may contain forward-looking  statements
under  the Private Securities Litigation Reform Act of 1995.  There  are  a
number  of  important  factors that could cause  actual  events  to  differ
materially  from  those  suggested  or indicated  by  such  forward-looking
statements,  and  you  should  not  place  undue  reliance  on   any   such
forward-looking statements, including those regarding the Butterball  joint
venture  and  the  anticipated  benefits of the  venture.   Forward-looking
statements,  if  made,  are  based on current intent,  beliefs,  plans  and
expectations, and involve risks and uncertainties that could  cause  actual
future results, performance or developments to differ materially from those
described in or implied by such forward-looking statements, including risks
related  to  operating the joint venture going forward, and the failure  to
realize  anticipates synergies or operational efficiencies from  the  joint
venture. The company cautions investors not to place undue reliance on  any
forward-looking statements, and encourages investors to review risk factors
contained  in  Seaboard Corporation's most recent Securities  and  Exchange
Commission  reports,  including its annual report on Form  10-K,  quarterly
reports  on Form 10-Q, and current reports on Form 8-K, press releases  and
other  communications.  We  undertake no obligation  to  update  or  revise
forward-looking statements to reflect changed assumptions,  the  occurrence
of unanticipated events or changes to future operating results over time.

Item 9.01  Financial Statements and Exhibits

(c)  Exhibits

     Seaboard hereby furnishes the following exhibit pursuant to Item 8.01:

     99.1 Press release of Seaboard Corporation dated December 6, 2010
        announcing the agreement to purchase an interest in Butterball, LLC.

     99.2 Press release of Seaboard Corporation dated December 6, 2010
        announcing a declaration of dividend.

<PAGE> 1

                                 SIGNATURE


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:  December 6, 2010

                           Seaboard Corporation

                           by: /s/ Robert L. Steer
                               Robert L. Steer, Senior Vice President,
                               Chief Financial Officer

<PAGE> 2




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.txt
<DESCRIPTION>SEABOARD CORPORATION PURCHASES INTEREST IN BUTTERBALL, LLC
<TEXT>


                                                               Exhibit 99.1


                           SEABOARD CORPORATION
                   PURCHASES INTEREST IN BUTTERBALL, LLC

SHAWNEE  MISSION,  KANSAS - December 6, 2010 - Seaboard  Corporation  (NYSE
Amex: SEB) is pleased to announce that it has completed the acquisition  of
a  50  percent  interest  in Butterball, LLC, in partnership  with  Maxwell
Farms, LLC.

"Butterball  is  an  iconic brand name in the United  States,  representing
superior quality, outstanding value and excellent customer service," states
Steve  Bresky, Seaboard's President and Chief Executive Officer.  "We  look
forward  to  our  participation  with the Butterball  management  team  and
Maxwell and bringing additional value to Butterball."

"We  are pleased to be partnering with Seaboard and moving forward  as  the
buyer  of  Butterball,  the strongest brand in the turkey  industry,"  said
Walter  Pelletier, President of Maxwell Farms, LLC.  "Seaboard is a strong,
diversified  company  with a great reputation in the agriculture  and  food
industries,  and  we  are  confident  the  partnership  will  be   mutually
beneficial for both companies."

Butterball,  LLC  is  the  industry leader in providing  safe,  nutritious,
high-quality turkey products.

Bank  of  America Merrill Lynch acted as financial adviser to  Seaboard  in
connection with the transaction.

About Seaboard Corporation:

Seaboard Corporation has a history dating back more than 90 years. Although
the  company  has evolved over time through acquisitions, partnerships  and
internal  growth,  its  roots  are  in  grain  and  agriculturally  derived
products.  Seaboard Corporation directly or indirectly  employs  more  than
14,000 people worldwide and ranks number 552 on the 2010 Fortune 1000 list,
with  net sales of approximately $3.6 billion annually. Seaboard is  traded
on  the  NYSE  Amex Equities under the symbol SEB. For more information  on
Seaboard Corporation, visit www.seaboardcorp.com.

About Maxwell Farms, LLC:

Maxwell  Farms, LLC is an affiliated company of Goldsboro Milling  Company.
Headquartered  in Goldsboro, North Carolina, Maxwell Farms,  LLC  owns  the
Maxwell  family's interest in Butterball, LLC.  Goldsboro Milling began  in
1916  as a feed mill that sold bag feed across eastern North Carolina.   It
soon  turned its attention to bulk feed and in 1958 began to grow  turkeys.
In  the  mid 1980's, Goldsboro Milling joined with Carroll's Foods to  form
Carolina  Turkeys, which is now Butterball.  In the late 1980's,  Goldsboro
Milling added swine, and today is the tenth largest swine producer  in  the
U.S.  Goldsboro Milling also invests in land and timber.

About Butterball, LLC:

Butterball,  LLC is the largest producer of turkey products in  the  United
States.  Headquartered in Garner, North Carolina, Butterball produces  more
than  1  billion pounds of turkey each year, and the company  supplies  its
products  to  more than 30 countries. The industry leader has seven  plants
located throughout the United States.

For  more information about Butterball, visit www.butterball.com.  You  can
also  call  1-800-BUTTERBALL for answers to your  most  puzzling  questions
about turkey preparation.

Forward-Looking Statements:

This  news release may contain forward-looking statements under the Private
Securities Litigation Reform Act of 1995.  There are a number of  important
factors  that  could  cause actual events to differ materially  from  those
suggested  or indicated by such forward-looking statements, and you  should
not  place undue reliance on any such forward-looking statements, including
those  regarding the Butterball joint venture and the anticipated  benefits
of  the venture.  Forward-looking statements, if made, are based on current
intent,   beliefs,   plans  and  expectations,  and   involve   risks   and
uncertainties  that  could  cause  actual future  results,  performance  or
developments  to differ materially from those described in  or  implied  by
such  forward-looking statements, including risks related to operating  the
joint  venture  going  forward,  and the  failure  to  realize  anticipates
synergies or operational efficiencies from the joint venture.  The  company
cautions  investors  not  to place undue reliance  on  any  forward-looking
statements,  and encourages investors to review risk factors  contained  in
Seaboard  Corporation's  most  recent Securities  and  Exchange  Commission
reports,  including  its annual report on Form 10-K, quarterly  reports  on
Form  10-Q,  and  current  reports on Form 8-K, press  releases  and  other
communications.    We  undertake  no  obligation  to   update   or   revise
forward-looking statements to reflect changed assumptions,  the  occurrence
of unanticipated events or changes to future operating results over time.

                                    ###

<PAGE>




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ex99-2.txt
<DESCRIPTION>SEABOARD CORPORATION PRESS RELEASE DECLARATION OF DIVIDEND
<TEXT>

                                                               Exhibit 99.2

                               PRESS RELEASE
                          DECLARATION OF DIVIDEND

                                                           December 6, 2010
                                                    Shawnee Mission, Kansas

Seaboard Corporation (NYSE Amex symbol: SEB) with offices at 9000 West 67th
Street,  Shawnee Mission, Kansas 66202, today announced that the  Board  of
Directors  of  the Corporation has declared a dividend of Six  Dollars  and
Seventy-Five  Cents  ($6.75)  per  share  on  the  common  stock   of   the
Corporation,  payable December 31, 2010 to stockholders of  record  at  the
close  of  business  on  December 20, 2010.  The increased  amount  of  the
dividend (which has historically been $0.75 per share on a quarterly  basis
or  $3.00  per share on an annual basis) represents payment of the  regular
fourth quarter dividend of $0.75 per share and a special dividend of  $6.00
per  share, equaling the anticipated annual 2011 and 2012 dividends  ($3.00
per  share per year).  This increased dividend is being made to ensure that
the  taxes  shareholders will pay based on the receipt of the  dividend  is
taxed  at  the  currently  favorable  2010  tax  rate  on  dividends.   The
Corporation does not intend to declare any further dividends for the  years
2011 and 2012.

<PAGE>



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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