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Inventories (Tables)
12 Months Ended
Dec. 31, 2024
Inventories  
Summary of inventories

 

December 31,

 

(Millions of dollars)

    

2024

    

2023

At lower of FIFO cost and NRV:

Hogs and materials

$

471

$

527

Pork products and materials

66

61

Grains, oilseeds and other commodities

 

367

 

375

Biofuels and related credits

221

194

Other

 

64

 

81

Total inventories at lower of FIFO cost and NRV

 

1,189

 

1,238

Grain, flour and feed at lower of weighted-average cost and NRV

 

219

 

224

Total inventories

$

1,408

$

1,462