Cal-Maine Foods (CALM) 10-Q 30 Mar 15 2015 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Feb. 28, 2015	Mar. 27, 2015
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	28-Feb-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Entity Registrant Name	CAL-MAINE FOODS INC
Entity Central Index Key	16160
Current Fiscal Year End Date	-25
Entity Filer Category	Large Accelerated Filer
Trading Symbol	calm
Common Stock [Member]
Entity Common Stock, Shares Outstanding		43,671,844
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		4,800,000

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Feb. 28, 2015	31-May-14
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$13,034	$14,521
Investment securities available-for-sale	224,804	194,738
Trade receivables (less allowance for doubtful accounts of $1,205 at February 28, 2015 and $430 at May 31, 2014) and other receivables	106,368	87,516
Inventories	146,230	146,117
Prepaid expenses and other current assets	3,380	2,501
Total current assets	493,816	445,393
Property, plant and equipment, net	348,782	314,935
Goodwill	29,196	29,196
Other investments	15,587	6,786
Other intangible assets	8,262	10,423
Other assets	5,106	4,928
TOTAL ASSETS	900,749	811,661
Current liabilities:
Accounts payable and accrued expenses	76,916	69,937
Accrued dividends payable	16,961	10,497
Current maturities of long-term debt	10,047	10,216
Deferred income taxes	31,963	30,451
Total current liabilities	135,887	121,101
Long-term debt, less current maturities	43,320	50,877
Other noncurrent liabilities	4,636	4,436
Deferred income taxes	43,980	40,502
Total liabilities	227,823	216,916
Commitments and Contingencies - see Note 4
Stockholders' equity:
Paid-in capital	42,113	40,476
Retained earnings	649,237	572,874
Accumulated other comprehensive income, net of tax	491	561
Common stock in treasury at cost – 26,589 shares at February 28, 2015 and 26,699 at May 31, 2014, respectively	-20,502	-20,453
Total Cal-Maine Foods, Inc. stockholders' equity	-672,090	-593,833
Noncontrolling interest in consolidated entities	836	912
Total stockholders' equity	672,926	594,745
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	900,749	811,661
Common Stock [Member]
Stockholders' equity:
Common stock	703	351
Total stockholders' equity	703	351
Class A Common Stock [Member]
Stockholders' equity:
Common stock	48	24
Total stockholders' equity	$48	$24

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Feb. 28, 2015	31-May-14
In Thousands, except Share data, unless otherwise specified
Allowance for doubtful accounts	$1,205	$430
Common stock, shares outstanding	48,472,000
Treasury stock, shares	26,589,000	26,699,000
Common Stock [Member]
Common stock, par value per share	$0.01	$0.01
Common stock, authorized shares	120,000,000	120,000,000
Common stock, issued	70,261,000	70,261,000
Common stock, shares outstanding	43,672,000	43,562,000
Class A Common Stock [Member]
Common stock, par value per share	$0.01	$0.01
Common stock, authorized shares	4,800,000	4,800,000
Common stock, issued	4,800,000	4,800,000
Common stock, shares outstanding	4,800,000	4,800,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Income (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Feb. 28, 2015		Mar. 01, 2014		Feb. 28, 2015		Mar. 01, 2014
Condensed Consolidated Statements Of Income [Abstract]
Net sales	$437,556		$395,522		$1,173,117		$1,069,325
Cost of sales	325,039		303,627		886,790		857,852
Gross profit	112,517		91,895		286,327		211,473
Selling, general and administrative expense	40,492		45,299		117,542		112,949
Operating income	72,025		46,596		168,785		98,524
Other income (expense):
Interest expense, net	-351		-563		-1,362		-2,049
Royalty income	331		1,037		2,355		3,449
Patronage dividends	4,336		5,841		4,581		6,093
Equity in income of affiliates	817		1,530		1,462		2,484
Other, net	-84		4,158		549		4,795
Nonoperating income (expense), total	5,049		12,003		7,585		14,772
Income before income taxes and noncontrolling interest	77,074		58,599		176,370		113,296
Income tax expense	26,115		15,643		60,365		35,195
Net income before noncontrolling interest	50,959		42,956		116,005		78,101
Less: Net income attributable to noncontrolling interest	77		103		865		386
Net income attributable to Cal-Maine Foods, Inc.	$50,882		$42,853		$115,140		$77,715
Net income per common share attributable to Cal-Maine Foods, Inc.:
Basic	$1.06		$0.89		$2.39		$1.61
Diluted	$1.05		$0.89		$2.38		$1.61
Dividends per common share	$0.35	[1]	$0.30	[1]	$0.79	[1]	$0.51	[1]
Weighted average shares outstanding:
Basic	48,137		48,095		48,134		48,122
Diluted	48,447		48,324		48,416		48,309
[1]	Dividends per common share =/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares). Per share amounts for the thirteen and thirty-nine weeks ended February 28, 2015 are estimated based on outstanding shares as of the end of the period; actual per share amounts will be determined as of the dividend record date.

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income including noncontrolling interests	$50,959	$42,956	$116,005	$78,101
Other comprehensive income (loss), before tax:
Unrealized holding gain (loss) on available-for-sale securities, net of reclassification adjustments	-42	97	-115	325
Income tax (expense) benefit related to items of other comprehensive income	17	-37	45	-126
Other comprehensive income (loss), net of tax	-25	60	-70	199
Comprehensive income	50,934	43,016	115,935	78,300
Less: comprehensive income attributable to the noncontrolling interest	77	103	865	386
Comprehensive income attributable to Cal-Maine Foods, Inc.	$50,857	$42,913	$115,070	$77,914

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements Of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Mar. 01, 2014
Operating activities:
Net income including noncontrolling interests	$116,005	$78,101
Depreciation and amortization	30,201	27,318
Other adjustments, net	-9,852	-34,562
Net cash provided by operations	136,354	70,857
Investing activities:
Purchase of investments	-139,956	-106,472
Sales of investments	109,489	91,412
Investment in Southwest Specialty Eggs, LLC	-8,160
Purchases of property, plant and equipment	-62,109	-40,927
Acquisitions of businesses, net of cash acquired		-11,548
Payments received on notes receivable and from affiliates	1,409	4,379
Net proceeds from disposal of property, plant and equipment	2,031	631
Net cash used in investing activities	-97,296	-62,525
Financing activities:
Proceeds from issuance of common stock from treasury, net (including tax benefit on nonqualifying disposition of incentive stock options)	60	271
Distributions to noncontrolling interests	-941
Principal payments on long-term debt	-7,726	-7,884
Payments of dividends	-31,938	-10,316
Net cash used in financing activities	-40,545	-17,929
Net change in cash and cash equivalents	-1,487	-9,597
Cash and cash equivalents at beginning of period	14,521	24,984
Cash and cash equivalents at end of period	$13,034	$15,387

Presentation_Of_Interim_Inform

Presentation Of Interim Information	9 Months Ended
	Feb. 28, 2015
Presentation Of Interim Information [Abstract]
Presentation Of Interim Information	1.   Presentation of Interim Information
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the results for the interim periods presented have been included. The preparation of condensed consolidated financial statements requires us to make estimates and assumptions. These estimates and assumptions affected reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions.  Operating results for the thirteen and thirty-nine weeks ended February 28, 2015 are not necessarily indicative of the results that may be expected for the year ending May 30, 2015.
	The condensed consolidated balance sheet at May 31, 2014 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.
	On October 31, 2014, the Company effected a 2-for-1 stock split to shareholders of record as of October 17, 2014.  All share and per share information has been retroactively adjusted to reflect the stock split.
	For further information, refer to the consolidated financial statements and footnotes thereto included in Cal-Maine Foods, Inc.'s annual report on Form 10-K for the fiscal year ended May 31, 2014. References to “we,” “us,” “our,” or the “Company” refer to Cal-Maine Foods, Inc.

Stock_Based_Compensation

Stock Based Compensation	9 Months Ended
	Feb. 28, 2015
Stock Based Compensation [Abstract]
Stock Based Compensation	2.   Stock Based Compensation
	Total stock based compensation expense for the thirty-nine weeks ended February 28, 2015 and March 1, 2014 was $1.7 million and $1.0 million, respectively. Refer to Note 11 of our May 31, 2014 audited financial statements for further information on our stock compensation plans.
	Liabilities associated with Stock Appreciation Rights at February 28, 2015 and May 31, 2014 were $1.1 million. The liabilities for Stock Appreciation Rights are included in the line item “Accounts payable and accrued expenses” in our Condensed Consolidated Balance Sheets.
	Unrecognized compensation expense as a result of non-vested shares of the 2012 Omnibus Long-Term Incentive Plan at February 28, 2015 was $6.1 million, and will be recorded over a weighted average period of 2.3 years.  Refer to Note 11 of our May 31, 2014 audited financial statements for further information on our stock compensation plans.
	A summary of the Company’s restricted shares activity for the thirty-nine weeks ended February 28, 2015 is as follows:
		Number of Shares		Weighted Average Grant Date Fair Value
	Outstanding, May 31, 2014		245,200	$	23.71
	Granted		91,540		36.63
	Vested		-400		-23.65
	Forfeited		-1,200		-23.65
	Outstanding, February 28, 2015		335,140	$	27.24

Inventories

Inventories	9 Months Ended
	Feb. 28, 2015
Inventories [Abstract]
Inventories	3.   Inventories
	Inventories consisted of the following (in thousands):
		28-Feb-15		31-May-14
	Flocks	$	89,612	$	90,152
	Eggs		11,787		11,747
	Feed and supplies		44,831		44,218
		$	146,230	$	146,117

Contingencies

Contingencies	9 Months Ended
	Feb. 28, 2015
Contingencies [Abstract]
Contingencies	4.   Contingencies
	Financial Instruments
	The Company maintained cash collateralized standby letters of credit (“LOC”) with banks totaling $3.3 million at February 28, 2015.  The cash collateralizing the LOCs is included in the line item “Other assets” in the Condensed Consolidated Balance Sheets.  The outstanding LOCs are for the benefit of certain insurance companies.  None of the LOCs are recorded as a liability on the consolidated balance sheets.
	Legal Contingencies
	The Company is a defendant in certain legal actions, and intends to vigorously defend its position in these actions.  If the Company’s assessment of a contingency indicates it is probable a material loss has been incurred and the amount of the liability can be reasonably estimated, the estimated liability is accrued in the Company’s financial statements.    If the assessment indicates a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be reasonably estimated, then the nature of the contingent liability, together with an estimate of the possible loss or range of possible loss will be disclosed, or a statement will be made that such an estimate cannot be made.
	These legal actions are discussed in detail at Part II, Item 1, of this report.

Net_Income_Per_Common_Share

Net Income Per Common Share	9 Months Ended
	Feb. 28, 2015
Net Income Per Common Share [Abstract]
Net Income Per Common Share	5.   Net Income per Common Share
	Basic net income per share was calculated by dividing net income by the weighted-average number of common shares outstanding during the period.  Diluted net income per share was calculated by dividing net income by the weighted-average number of common shares outstanding during the period plus the dilutive effects of options and restricted stock.  The computations of basic and diluted net income per share attributable to the Company are as follows (in thousands, except per share data):
		13 Weeks Ended				39 Weeks Ended
		28-Feb-15		1-Mar-14		28-Feb-15		1-Mar-14
	Net income attributable to
	Cal-Maine Foods, Inc.	$	50,882	$	42,853	$	115,140	$	77,715
	Basic weighted-average common shares		48,137		48,095		48,134		48,122
	Effect of dilutive securities:
	Restricted shares		288		189		260		147
	Common stock options		22		40		22		40
	Dilutive potential common shares		48,447		48,324		48,416		48,309
	Net income per common share
	attributable to Cal-Maine Foods, Inc.:
	Basic	$	1.06	$	0.89	$	2.39	$	1.61
	Diluted	$	1.05	$	0.89	$	2.38	$	1.61

Accrued_Dividends_Payable_And_

Accrued Dividends Payable And Dividends Per Common Share	9 Months Ended
	Feb. 28, 2015
Accrued Dividends Payable And Dividends Per Common Share [Abstract]
Accrued Dividends Payable And Dividends Per Common Share	6.   Accrued Dividends Payable and Dividends per Common Share
	We make an accrual of dividends payable at the end of each quarter according to the Company’s dividend policy adopted by its Board of Directors. According to the dividend policy, the Company pays a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which the Company reports net income attributable to Cal-Maine Foods, Inc. computed in accordance with generally accepted accounting principles in an amount equal to one-third (1/3) of such quarterly income. Dividends are paid to shareholders of record as of the 60th day following the last day of such quarter, except for the fourth fiscal quarter.  For the fourth quarter, the Company will pay dividends to shareholders of record on the 65th day after the quarter end. Dividends are payable on the 15th day following the record date. Following a quarter for which the Company does not report net income attributable to Cal-Maine Foods, Inc., the Company will not pay a dividend for a subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the last quarter for which a dividend was paid. The amount of the accrual appears on the Condensed Consolidated Balance Sheets as “Accrued dividends payable.”
	In the fourth quarter of fiscal 2013 the Company reported a net loss attributable to Cal-Maine Foods, Inc. of $3.8 million.  As a result, total dividends paid for the thirty-nine weeks ended March 1, 2014 were calculated only on net income attributable to Cal-Maine Foods, Inc. in excess of $3.8 million.
	On our condensed consolidated statement of income, we determine dividends per common share in accordance with the computation in the following table (in thousands, except per share data):
		13 Weeks Ended				39 Weeks Ended
		28-Feb-15		1-Mar-14		28-Feb-15		1-Mar-14
	Net income attributable to Cal-Maine Foods, Inc.	$	50,882	$	42,853	$	115,140	$	77,715
	Fourth quarter fiscal 2013 loss		-		-		-		-3,833
	Net income available for dividend calculation		50,882		42,853		115,140		73,882
	1/3 of net income attributable to Cal-Maine Foods, Inc. available and accrued for dividend		16,961		14,284		38,402		24,627
	Common stock outstanding (shares)		43,672		43,564
	Class A common stock outstanding (shares)		4,800		4,800
	Total common stock outstanding (shares)		48,472		48,364
	Dividends per common share*	$	0.350	$	0.295	$	0.793	$	0.510
	*Dividends per common share =/font>1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares).  Per share amounts for the thirteen and thirty-nine weeks ended February 28, 2015 are estimated based on outstanding shares as of the end of the period; actual per share amounts will be determined as of the dividend record date.

Derivative_Financial_Instrumen

Derivative Financial Instruments	9 Months Ended
	Feb. 28, 2015
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	7. Derivative Financial Instruments
	The Company holds commodity futures contracts in the form of call options, the cost of which is paid for by certain customers, to protect against increases in the price of corn and soybean meal purchases required to support that portion of its shell egg production sold on a cost of production formula.  The contracts are generally for durations of less than six months.  The Company marks the unrealized changes in the derivative instrument’s fair value to market; however, the net realized cost of these contracts is paid by certain customers, so there is no net impact to the Company’s Consolidated Statements of Income.  The fair value of all derivative instruments outstanding is included as a component of “Prepaid Expenses and Other Current Assets” on the Condensed Consolidated Balance Sheets as follows:
	Contracts outstanding at period end
	Commodity	Units		Fair Value
	Corn	4,675,000	bushels	$
				635
	Soybean meal	49,000	tons	$
				607
	Total fair value of commodity contracts			$
				1,242

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Feb. 28, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	8.   Fair Value Measurements
	The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy.  The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor.
		·		Level 1 - Quoted prices in active markets for identical assets or liabilities
		·		Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly
		·		Level 3 - Unobservable inputs for the asset or liability that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities
	The disclosure of fair value of certain financial assets and liabilities that are recorded at cost are as follows:
	Cash and cash equivalents: The carrying amount approximates fair value due to the short maturity of these instruments.
	Long-term debt: The carrying value of the Company’s long-term debt is at its stated value.  We have not elected to carry our long-term debt at fair value.  Fair values for debt are based on quoted market prices or published forward interest rate curves.  Estimated fair values are management’s estimates; however, when there is no readily available market data, the estimated fair values may not represent the amounts that could be realized in a current transaction, and the fair values could change significantly. The fair value and carrying value of the Company’s borrowings under its credit facilities and long-term debt were as follows (in thousands):
		28-Feb-15						31-May-14
		Carrying Value			Fair Value			Carrying Value			Fair Value
	5.4 – 6.4% Notes payable	$	46,529		$	47,173		$	52,676		$	53,387
	Series A Senior Secured Notes at 5.45%		6,838			6,835			8,417			8,396
		$	53,367		$	54,008		$	61,093		$	61,783
	Assets and Liabilities Measured at Fair Value on a Recurring Basis
	In accordance with the fair value hierarchy described above, the following table shows the fair value of financial assets and liabilities measured at fair value on a recurring basis as of February 28, 2015 and May 31, 2014:
			28-Feb-15
			Quoted Prices
			in Active			Significant
			Markets for			Other			Significant
			Identical			Observable			Unobservable
			Instruments			Inputs			Inputs			Total
			(Level 1)			(Level 2)			(Level 3)			Balance
	Investment securities available-for-sale
	State municipal bonds		$	-		$	78,602		$	-		$	78,602
	US government obligations			-			4,459			-			4,459
	Corporate bonds			-			119,886			-			119,886
	Commercial paper			-			6,992			-			6,992
	Foreign government obligations			-			1,048			-			1,048
	Government agency bonds			-			4,637			-			4,637
	Asset backed securities			-			9,180			-			9,180
	Mutual funds*			1,736			-			-			1,736
	Total available-for-sale securities at fair value			1,736			224,804			-			226,540
	Commodity contracts			-			1,242			-			1,242
	Total assets measured at fair value		$	1,736		$	226,046		$	-		$	227,782
	Contingent consideration			-			-			1,024			1,024
	Total liabilities measured at fair value		$	-		$	-		$	1,024		$	1,024
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
			31-May-14
			Quoted Prices
			in Active			Significant
			Markets for			Other			Significant
			Identical			Observable			Unobservable
			Instruments			Inputs			Inputs			Total
			(Level 1)			(Level 2)			(Level 3)			Balance
	Investment securities available-for-sale
	State municipal bonds		$	-		$	75,847		$	-		$	75,847
	US government obligations			-			4,061			-			4,061
	Corporate bonds			-			102,685			-			102,685
	Commercial paper			-			3,930						3,930
	Certificates of deposit			-			351			-			351
	Foreign government obligations			-			1,066						1,066
	Government agency bonds			-			4,798			-			4,798
	Variable rate demand notes			-			2,000			-			2,000
	Mutual funds*			1,451			-			-			1,451
	Total available-for-sale securities at fair value			1,451			194,738			-			196,189
	Commodity contracts			-			1,255						1,255
	Total assets measured at fair value		$	1,451		$	195,993		$	-		$	197,444
	Contingent consideration		$	-		$	-		$	2,985		$	2,985
	Total liabilities measured at fair value		$	-		$	-		$	2,985		$	2,985
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
	Our investment securities – available-for-sale classified as level 2 consist of certificates of deposit, United States government obligations, foreign government agency bonds, taxable municipal bonds, tax exempt municipal bonds, zero coupon municipal bonds, corporate bonds, commercial paper, asset backed or securitized corporate obligations, and variable rate demand notes. We classify these securities as current, because amounts invested are available for current operations. Observable inputs for these securities are yields, credit risks, default rates, and volatility.
	Our commodity contracts consist of call options, the cost of which is paid for by certain customers, to protect against increases in the price of corn and soybean meal.  Observable inputs are current and forward commodity market prices on active exchanges.
	The Company applies fair value accounting guidance to measure non-financial assets and liabilities associated with business acquisitions. These assets and liabilities are measured at fair value for the initial purchase price allocation and are subject to recurring revaluations. The fair value of non-financial assets acquired is determined internally.  Our internal valuation methodology for non-financial assets takes into account the remaining estimated life of the assets acquired and what management believes is the market value for those assets based on their highest and best use.  Liabilities for contingent consideration (earn-outs) take into account commodity prices based on published forward commodity price curves, projected future egg prices as of the date of the estimate, and projected future cash flows expected to be received as a result of a business acquisition (Refer to Note 2 in the Annual Report on Form 10-K).  Given the unobservable nature of these inputs, they are deemed to be Level 3 fair value measurements.  During the thirty-nine weeks ended February 28, 2015 we recognized $239,000 in expense resulting from the increase in fair value of the contingent consideration.  This expense was recognized in earnings as an increase of selling, general, and administrative expenses.  Changes in the fair value of contingent consideration obligations were as follows (in thousands):
			Thirty-nine weeks ended February 28, 2015
Balance at May 31, 2014	$	2,985
(Gains)/Losses recognized in earnings		239
Actual payments made		-2,200
Balance at February 28, 2015	$	1,024

AvailableForSale_Securities

Available-For-Sale Securities	9 Months Ended
	Feb. 28, 2015
Available-For-Sale Securities [Abstract]
Available-For-Sale Securities	9.   Available-for-Sale Securities
	The following represents the Company’s available-for-sale securities as of February 28, 2015 and May 31, 2014:
		28-Feb-15
	(Amounts in thousands)	Amortized Cost		Gains in Accumulated Other Comprehensive Income		Losses in Accumulated Other Comprehensive Income		Estimated Fair Value
	State municipal bonds	$	78,433	$	169	$	-	$	78,602
	US government obligations		4,454		5		-		4,459
	Corporate bonds		119,970		-		84		119,886
	Commercial paper		6,992		-		-		6,992
	Foreign government obligations		1,048		-		-		1,048
	Government agency bonds		4,633		4		-		4,637
	Asset Backed Securities		9,182		-		2		9,180
	Total available-for-sale securities	$	224,712	$	178	$	86	$	224,804
	Mutual Funds*		1,190		546		-		1,736
	Total noncurrent available-for-sale securities	$	1,190	$	546	$	-	$	1,736
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
		31-May-14
	(Amounts in thousands)	Amortized Cost		Gains in Accumulated Other Comprehensive Income		Losses in Accumulated Other Comprehensive Income		Estimated Fair Value
	State municipal bonds	$	75,659	$	188	$	-	$	75,847
	US government obligations		4,056		5		-		4,061
	Corporate bonds		102,587		98		-		102,685
	Commercial paper		3,927		3		-		3,930
	Certificates of deposit		350		1		-		351
	Foreign government obligations		1,064		2		-		1,066
	Government agency bonds		4,791		7		-		4,798
	Variable rate demand notes		2,000		-		-		2,000
	Total current available-for-sale securities	$	194,434	$	304	$	-	$	194,738
	Mutual Funds*		999		452		-		1,451
	Total noncurrent available-for-sale securities	$	999	$	452	$	-	$	1,451
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
	Proceeds from the sales of available-for-sale securities were $109.5 million and $91.4 million during the thirty-nine weeks ended February 28, 2015 and March 1, 2014, respectively. Gross realized gains on those sales during the thirty-nine weeks ended February 28, 2015 and March 1, 2014 were $68,000 and $7,000, respectively.  Gross realized losses on those sales during the thirty-nine weeks ended February 28, 2015 and March 1, 2014 were $6,000 and $2,000, respectively. For purposes of determining gross realized gains and losses, the cost of securities sold is based on the specific identification method.
	Unrealized holding losses reflected in Other Comprehensive Loss, net of tax, on available-for-sale securities were $70,000 for the thirty-nine weeks ended February 28, 2015, compared to unrealized holding gains of $199,000 for the thirty-nine weeks ended March 1, 2014.
	Unrealized holding gains, net of tax, of $390,000 and $460,000 are included in Accumulated Other Comprehensive Income, as of February 28, 2015 and May 31, 2014 respectively.
	Actual maturities may differ from contractual maturities because some borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Contractual maturities at February 28, 2015, are as follows (in thousands):
			Estimated Fair Value
	Within one year	$	115,120
	After 1-5 years		109,684
	After 5-10 years		-
	Total	$	224,804

Financial_Statement_Impact_Of_

Financial Statement Impact Of Fires	9 Months Ended
	Feb. 28, 2015
Financial Statement Impact Of Fires [Abstract]
Financial Statement Impact Of Fires	10.   Financial Statement Impact of Fires
	In the second quarter of fiscal 2014, a contract producer owned pullet complex in Florida was damaged by fire.  The fire destroyed two contract producer owned pullet houses that contained the Company’s flocks.  In the third quarter of fiscal 2014, the Company’s Shady Dale, Georgia complex was damaged by fire.  The fire destroyed two pullet houses.  The Company received a net of $2.0 million from insurance carriers as full settlement of these claims, after payment of $720,000 in deductibles and coinsurance.  During the first quarter of fiscal 2015, the Company recorded proceeds received for business interruption losses of $60,000 as a reduction to “Cost of sales” and a $886,000 gain on the property damage claim which was recorded in “Other income (expense)”.  The $1.0 million remainder of the insurance proceeds was used to reimburse the Company for the book value of damaged property written off and other out of pocket expenses.

Equity

Equity	9 Months Ended
	Feb. 28, 2015
Equity [Abstract]
Equity	11.   Equity
	The following reflects the equity activity, including our noncontrolling interest, for the thirty-nine weeks ended February 28, 2015:
			Cal-Maine Foods, Inc.
			Common Stock
					Class A		Treasury		Paid In		Accum. Other		Retained		Noncontrolling
			Amount		Amount		Amount		Capital		Comp. Loss		Earnings		Interests		Total
	Balance at May 31, 2014	$	351	$	24	$	-20,453	$	40,476	$	561	$	572,874	$	912	$	594,745
	Dividends*		-		-		-		-		-		-38,402		-		-38,402
	2-for-1 stock split effected in the form of a dividend		352		24		-133		132		-		-375		-		-
	Other comprehensive loss, net of tax		-		-		-		-		-70		-		-		-70
	Grant of restricted stock, net of forfeitures		-		-		68		-68		-		-		-		-
	Distribution to noncontrolling interest partners		-		-		-		-		-		-		-941		-941
	Proceeds from stock option exercise		-		-		16		44		-		-		-		60
	Restricted stock compensation		-		-		-		1,529		-		-		-		1,529
	Net income		-		-		-		-		-		115,140		865		116,005
	Balance at February 28, 2015	$	703	$	48	$	-20,502	$	42,113	$	491	$	649,237	$	836	$	672,926
	*  Dividends are calculated as 1/3 of net income after prior period loss (includes adjustment for actual dividends paid based on accrual from previous period).

Other_Matters

Other Matters	9 Months Ended
	Feb. 28, 2015
Other Matters [Abstract]
Other Matters	12.   Other Matters
	On July 25, 2014, the Board of Directors approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to authorize an additional 60,000,000 shares of common stock and an additional 2,400,000 shares of Class A common stock.  The primary purpose of the amendment was to provide a sufficient number of authorized shares in order to effect a 2-for-1 stock split of the Company’s common stock and Class A common stock.  The amendment was approved by the Company’s stockholders at the Company’s annual meeting on October 3, 2014 and the Board of Directors approved the 2-for-1 stock split on the same day.  The new shares were distributed on October 31, 2014 to shareholders of record at the close of business on October 17, 2014.
	All prior period per share information contained in this report was adjusted to reflect the effect of the stock split.

Stock_Based_Compensation_Table

Stock Based Compensation (Tables)	9 Months Ended
	Feb. 28, 2015
Stock Based Compensation [Abstract]
Summary Of Restricted Share Activity
		Number of Shares		Weighted Average Grant Date Fair Value
	Outstanding, May 31, 2014		245,200	$	23.71
	Granted		91,540		36.63
	Vested		-400		-23.65
	Forfeited		-1,200		-23.65
	Outstanding, February 28, 2015		335,140	$	27.24

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Feb. 28, 2015
Inventories [Abstract]
Schedule Of Inventories
		28-Feb-15		31-May-14
	Flocks	$	89,612	$	90,152
	Eggs		11,787		11,747
	Feed and supplies		44,831		44,218
		$	146,230	$	146,117

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Feb. 28, 2015
Net Income Per Common Share [Abstract]
Computation Of Basic And Diluted Net Income Per Share Attributable To The Company
		13 Weeks Ended				39 Weeks Ended
		28-Feb-15		1-Mar-14		28-Feb-15		1-Mar-14
	Net income attributable to
	Cal-Maine Foods, Inc.	$	50,882	$	42,853	$	115,140	$	77,715
	Basic weighted-average common shares		48,137		48,095		48,134		48,122
	Effect of dilutive securities:
	Restricted shares		288		189		260		147
	Common stock options		22		40		22		40
	Dilutive potential common shares		48,447		48,324		48,416		48,309
	Net income per common share
	attributable to Cal-Maine Foods, Inc.:
	Basic	$	1.06	$	0.89	$	2.39	$	1.61
	Diluted	$	1.05	$	0.89	$	2.38	$	1.61

Accrued_Dividends_Payable_And_1

Accrued Dividends Payable And Dividends Per Common Share (Tables)	9 Months Ended
	Feb. 28, 2015
Accrued Dividends Payable And Dividends Per Common Share [Abstract]
Schedule Of Dividends Per Common Share
		13 Weeks Ended				39 Weeks Ended
		28-Feb-15		1-Mar-14		28-Feb-15		1-Mar-14
	Net income attributable to Cal-Maine Foods, Inc.	$	50,882	$	42,853	$	115,140	$	77,715
	Fourth quarter fiscal 2013 loss		-		-		-		-3,833
	Net income available for dividend calculation		50,882		42,853		115,140		73,882
	1/3 of net income attributable to Cal-Maine Foods, Inc. available and accrued for dividend		16,961		14,284		38,402		24,627
	Common stock outstanding (shares)		43,672		43,564
	Class A common stock outstanding (shares)		4,800		4,800
	Total common stock outstanding (shares)		48,472		48,364
	Dividends per common share*	$	0.350	$	0.295	$	0.793	$	0.510
	*Dividends per common share =/font>1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares).  Per share amounts for the thirteen and thirty-nine weeks ended February 28, 2015 are estimated based on outstanding shares as of the end of the period; actual per share amounts will be determined as of the dividend record date.

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	9 Months Ended
	Feb. 28, 2015
Derivative Financial Instruments [Abstract]
Schedule Of Fair Value Of All Derivative Instruments Outstanding
	Contracts outstanding at period end
	Commodity	Units		Fair Value
	Corn	4,675,000	bushels	$
				635
	Soybean meal	49,000	tons	$
				607
	Total fair value of commodity contracts			$
				1,242

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Feb. 28, 2015
Fair Value Measurements [Abstract]
Schedule Of Fair Value And Carrying Value Of Borrowings Under Credit Facilities And Long-Term Debt
		28-Feb-15						31-May-14
		Carrying Value			Fair Value			Carrying Value			Fair Value
	5.4 – 6.4% Notes payable	$	46,529		$	47,173		$	52,676		$	53,387
	Series A Senior Secured Notes at 5.45%		6,838			6,835			8,417			8,396
		$	53,367		$	54,008		$	61,093		$	61,783
Schedule Of Assets Measured At Fair Value On A Recurring Basis
			28-Feb-15
			Quoted Prices
			in Active			Significant
			Markets for			Other			Significant
			Identical			Observable			Unobservable
			Instruments			Inputs			Inputs			Total
			(Level 1)			(Level 2)			(Level 3)			Balance
	Investment securities available-for-sale
	State municipal bonds		$	-		$	78,602		$	-		$	78,602
	US government obligations			-			4,459			-			4,459
	Corporate bonds			-			119,886			-			119,886
	Commercial paper			-			6,992			-			6,992
	Foreign government obligations			-			1,048			-			1,048
	Government agency bonds			-			4,637			-			4,637
	Asset backed securities			-			9,180			-			9,180
	Mutual funds*			1,736			-			-			1,736
	Total available-for-sale securities at fair value			1,736			224,804			-			226,540
	Commodity contracts			-			1,242			-			1,242
	Total assets measured at fair value		$	1,736		$	226,046		$	-		$	227,782
	Contingent consideration			-			-			1,024			1,024
	Total liabilities measured at fair value		$	-		$	-		$	1,024		$	1,024
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
			31-May-14
			Quoted Prices
			in Active			Significant
			Markets for			Other			Significant
			Identical			Observable			Unobservable
			Instruments			Inputs			Inputs			Total
			(Level 1)			(Level 2)			(Level 3)			Balance
	Investment securities available-for-sale
	State municipal bonds		$	-		$	75,847		$	-		$	75,847
	US government obligations			-			4,061			-			4,061
	Corporate bonds			-			102,685			-			102,685
	Commercial paper			-			3,930						3,930
	Certificates of deposit			-			351			-			351
	Foreign government obligations			-			1,066						1,066
	Government agency bonds			-			4,798			-			4,798
	Variable rate demand notes			-			2,000			-			2,000
	Mutual funds*			1,451			-			-			1,451
	Total available-for-sale securities at fair value			1,451			194,738			-			196,189
	Commodity contracts			-			1,255						1,255
	Total assets measured at fair value		$	1,451		$	195,993		$	-		$	197,444
	Contingent consideration		$	-		$	-		$	2,985		$	2,985
	Total liabilities measured at fair value		$	-		$	-		$	2,985		$	2,985
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
Changes In Fair Value Of Contingent Consideration
			Thirty-nine weeks ended February 28, 2015
	Balance at May 31, 2014	$	2,985
	(Gains)/Losses recognized in earnings		239
	Actual payments made		-2,200
	Balance at February 28, 2015	$	1,024

AvailableForSale_Securities_Ta

Available-For-Sale Securities (Tables)	9 Months Ended
	Feb. 28, 2015
Available-For-Sale Securities [Abstract]
Schedule Of Available-For-Sale Securities Classified As Current Assets
		28-Feb-15
	(Amounts in thousands)	Amortized Cost		Gains in Accumulated Other Comprehensive Income		Losses in Accumulated Other Comprehensive Income		Estimated Fair Value
	State municipal bonds	$	78,433	$	169	$	-	$	78,602
	US government obligations		4,454		5		-		4,459
	Corporate bonds		119,970		-		84		119,886
	Commercial paper		6,992		-		-		6,992
	Foreign government obligations		1,048		-		-		1,048
	Government agency bonds		4,633		4		-		4,637
	Asset Backed Securities		9,182		-		2		9,180
	Total available-for-sale securities	$	224,712	$	178	$	86	$	224,804
	Mutual Funds*		1,190		546		-		1,736
	Total noncurrent available-for-sale securities	$	1,190	$	546	$	-	$	1,736
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
		31-May-14
	(Amounts in thousands)	Amortized Cost		Gains in Accumulated Other Comprehensive Income		Losses in Accumulated Other Comprehensive Income		Estimated Fair Value
	State municipal bonds	$	75,659	$	188	$	-	$	75,847
	US government obligations		4,056		5		-		4,061
	Corporate bonds		102,587		98		-		102,685
	Commercial paper		3,927		3		-		3,930
	Certificates of deposit		350		1		-		351
	Foreign government obligations		1,064		2		-		1,066
	Government agency bonds		4,791		7		-		4,798
	Variable rate demand notes		2,000		-		-		2,000
	Total current available-for-sale securities	$	194,434	$	304	$	-	$	194,738
	Mutual Funds*		999		452		-		1,451
	Total noncurrent available-for-sale securities	$	999	$	452	$	-	$	1,451
	*The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.
Schedule Of Contractual Maturities Of Available-For-Sale Debt Securities
			Estimated Fair Value
	Within one year	$	115,120
	After 1-5 years		109,684
	After 5-10 years		-
	Total	$	224,804

Equity_Tables

Equity (Tables)	9 Months Ended
	Feb. 28, 2015
Equity [Abstract]
Schedule Of Statement Of Stockholders' Equity Activities, Including Noncontrolling Interest
			Cal-Maine Foods, Inc.
			Common Stock
					Class A		Treasury		Paid In		Accum. Other		Retained		Noncontrolling
			Amount		Amount		Amount		Capital		Comp. Loss		Earnings		Interests		Total
	Balance at May 31, 2014	$	351	$	24	$	-20,453	$	40,476	$	561	$	572,874	$	912	$	594,745
	Dividends*		-		-		-		-		-		-38,402		-		-38,402
	2-for-1 stock split effected in the form of a dividend		352		24		-133		132		-		-375		-		-
	Other comprehensive loss, net of tax		-		-		-		-		-70		-		-		-70
	Grant of restricted stock, net of forfeitures		-		-		68		-68		-		-		-		-
	Distribution to noncontrolling interest partners		-		-		-		-		-		-		-941		-941
	Proceeds from stock option exercise		-		-		16		44		-		-		-		60
	Restricted stock compensation		-		-		-		1,529		-		-		-		1,529
	Net income		-		-		-		-		-		115,140		865		116,005
	Balance at February 28, 2015	$	703	$	48	$	-20,502	$	42,113	$	491	$	649,237	$	836	$	672,926
	*  Dividends are calculated as 1/3 of net income after prior period loss (includes adjustment for actual dividends paid based on accrual from previous period).

Presentation_Of_Interim_Inform1

Presentation Of Interim Information (Details)	0 Months Ended	9 Months Ended
	Oct. 31, 2014	Feb. 28, 2015
Presentation Of Interim Information [Abstract]
Stock split ratio	2	2

Stock_Based_Compensation_Narra

Stock Based Compensation (Narrative) (Details) (USD $)	9 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	31-May-14
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accounts payable and accrued expenses	$76,916,000		$69,937,000
Stock based compensation expense (benefit)	1,700,000	1,000,000
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accounts payable and accrued expenses	1,100,000		1,100,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$6,100,000
Weighted average period of unrecognized compensation expense	2 years 3 months 18 days

Stock_Based_Compensation_Summa

Stock Based Compensation (Summary Of Restricted Share Activity) (Details) (USD $)	9 Months Ended
	Feb. 28, 2015
Stock Based Compensation [Abstract]
Number of Shares, Outstanding, May 31, 2014	245,200
Number of Shares, Granted	91,540
Number of Shares, Vested	-400
Number of Shares, Forfeited	-1,200
Number of Shares, Outstanding, February 28, 2015	335,140
Weighted Average Grant Date Fair Value, Outstanding, May 31, 2014	$23.71
Weighted Average Grant Date Fair Value, Granted	$36.63
Weighted Average Grant Date Fair Value, Vested	($23.65)
Weighted Average Grant Date Fair Value, Forfeited	($23.65)
Weighted Average Grant Date Fair Value, Outstanding, February 28, 2015	$27.24

Inventories_Schedule_Of_Invent

Inventories (Schedule Of Inventories) (Details) (USD $)	Feb. 28, 2015	31-May-14
In Thousands, unless otherwise specified
Inventories [Abstract]
Flocks	$89,612	$90,152
Eggs	11,787	11,747
Feed and supplies	44,831	44,218
Total inventories	$146,230	$146,117

Contingencies_Details

Contingencies (Details) (USD $)	Feb. 28, 2015
In Millions, unless otherwise specified
Contingencies [Abstract]
Standby letters of credit	$3.30

Net_Income_Per_Common_Share_Co

Net Income Per Common Share (Computation Of Basic And Diluted Net Income Per Share Attributable To The Company) (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Feb. 28, 2015	Mar. 01, 2014	Jun. 01, 2013	Feb. 28, 2015	Mar. 01, 2014
Net Income Per Common Share [Abstract]
Net income attributable to Cal-Maine Foods, Inc.	$50,882	$42,853	($3,833)	$115,140	$77,715
Basic weighted-average common shares	48,137	48,095		48,134	48,122
Restricted shares	288	189		260	147
Common stock options	22	40		22	40
Dilutive potential common shares	48,447	48,324		48,416	48,309
Basic	$1.06	$0.89		$2.39	$1.61
Diluted	$1.05	$0.89		$2.38	$1.61

Accrued_Dividends_Payable_And_2

Accrued Dividends Payable And Dividends Per Common Share (Narrative) (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	Mar. 01, 2014	Jun. 01, 2013	Feb. 28, 2015	Mar. 01, 2014
Accrued Dividends Payable And Dividends Per Common Share [Abstract]
Percentage of net income used to compute accrued dividends				33.33%
Number of days after first, second and third quarter dividends paid				60 days
Number of days after fourth quarter dividends paid				65 days
Number of days dividends paid following record date				15 days
Net income attributable to Cal-Maine Foods, Inc.	$50,882	$42,853	($3,833)	$115,140	$77,715

Accrued_Dividends_Payable_And_3

Accrued Dividends Payable And Dividends Per Common Share (Schedule Of Dividends Per Common Share) (Details) (USD $)	3 Months Ended					9 Months Ended
In Thousands, except Share data, unless otherwise specified	Feb. 28, 2015		Mar. 01, 2014		Jun. 01, 2013	Feb. 28, 2015		Mar. 01, 2014		31-May-14
Dividends Payable [Line Items]
Net income attributable to Cal-Maine Foods, Inc.	$50,882		$42,853		($3,833)	$115,140		$77,715
Net income available for dividend calculation	50,882		42,853			115,140		73,882
1/3 of net income attributable to Cal-Maine Foods, Inc. available and accrued for dividend	$16,961		$14,284			$38,402		$24,627
Common stock outstanding (shares)	48,472,000		48,364,000			48,472,000		48,364,000
Dividends per common share	$0.35	[1]	$0.30	[1]		$0.79	[1]	$0.51	[1]
Percentage of net income attributable to Cal-Maine Foods, Inc.						33.33%
Common Stock [Member]
Dividends Payable [Line Items]
Common stock outstanding (shares)	43,672,000		43,564,000			43,672,000		43,564,000		43,562,000
Class A Common Stock [Member]
Dividends Payable [Line Items]
Common stock outstanding (shares)	4,800,000		4,800,000			4,800,000		4,800,000		4,800,000
[1]	Dividends per common share =/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares). Per share amounts for the thirteen and thirty-nine weeks ended February 28, 2015 are estimated based on outstanding shares as of the end of the period; actual per share amounts will be determined as of the dividend record date.

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	31-May-14
	bu
Derivatives, Fair Value [Line Items]
Derivative, fair value	$1,242	$1,255
Corn Commodity [Member]
Derivatives, Fair Value [Line Items]
Derivative, fair value	635
Underlying, derivative volume	4,675,000
Soybean Meal Commodity [Member]
Derivatives, Fair Value [Line Items]
Derivative, fair value	$607
Underlying, derivative mass	49,000
Maximum [Member]
Derivatives, Fair Value [Line Items]
Term of contract	6 months

Fair_Value_Measurements_Narrat

Fair Value Measurements (Narrative) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015
Fair Value Measurements [Abstract]
(Gains)/Losses recognized in earnings	$239

Fair_Value_Measurements_Schedu

Fair Value Measurements (Schedule Of Fair Value And Carrying Value Of Borrowings Under Credit Facilities And Long-Term Debt) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015	31-May-14
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying Value	$53,367	$61,093
Long-term debt, Fair Value	54,008	61,783
5.4 – 6.4% Notes Payable [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying Value	46,529	52,676
Long-term debt, Fair Value	47,173	53,387
Interest rate, minimum	5.40%
Interest rate, maximum	6.40%
Series A Senior Secured Notes At 5.45% [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying Value	6,838	8,417
Long-term debt, Fair Value	$6,835	$8,396
Interest rate	5.45%

Fair_Value_Measurements_Schedu1

Fair Value Measurements (Schedule Of Assets Measured At Fair Value On A Recurring Basis) (Details) (USD $)	Feb. 28, 2015		31-May-14
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	$226,540		$196,189
Commodity contracts	1,242		1,255
Total assets measured at fair value	227,782		197,444
Contingent consideration	1,024		2,985
Total liabilities measured at fair value	1,024		2,985
Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,736		1,451
Commodity contracts
Total assets measured at fair value	1,736		1,451
Contingent consideration
Total liabilities measured at fair value
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	224,804		194,738
Commodity contracts	1,242		1,255
Total assets measured at fair value	226,046		195,993
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Contingent consideration	1,024		2,985
Total liabilities measured at fair value	1,024		2,985
State Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	78,602		75,847
State Municipal Bonds [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
State Municipal Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	78,602		75,847
US Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	4,459		4,061
US Government Obligations [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
US Government Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	4,459		4,061
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	119,886		102,685
Corporate Bonds [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Corporate Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	119,886		102,685
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	6,992		3,930
Commercial Paper [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Commercial Paper [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	6,992		3,930
Certificates Of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale			351
Certificates Of Deposit [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Certificates Of Deposit [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale			351
Foreign Government Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,048		1,066
Foreign Government Obligations [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Foreign Government Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,048		1,066
Government Agency Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	4,637		4,798
Government Agency Bonds [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Government Agency Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	4,637		4,798
Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	9,180
Asset Backed Securities [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Asset Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	9,180
Variable Rate Demand Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale			2,000
Variable Rate Demand Notes [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale
Variable Rate Demand Notes [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale			2,000
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	1,736	[1]	1,451	[1]
Mutual Funds [Member] | Quoted Prices In Active Markets For Identical Instruments (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale	$1,736	[1]	$1,451	[1]
[1]	The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.

Fair_Value_Measurements_Change

Fair Value Measurements (Changes In Fair Value Of Contingent Consideration) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Feb. 28, 2015
Fair Value Measurements [Abstract]
Balance at May 31, 2014	$2,985
(Gains)/Losses recognized in earnings	239
Actual payments made	-2,200
Balance at February 28, 2015	$1,024

AvailableForSale_Securities_Na

Available-For-Sale Securities (Narrative) (Details) (USD $)	9 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	31-May-14
Available-For-Sale Securities [Abstract]
Proceeds from sale of available-for-sale securities	$109,500,000	$91,400,000
Gross realized gains on sales of available-for-sale securities	68,000	7,000
Gross realized losses on sales of available-for-sale securities	6,000	2,000
Unrealized holding gains (losses) net of tax on available-for-sale securities	-70,000	199,000
Unrealized holding gains (losses), net of tax on available-for-sale securities included in AOCI	$390,000		$460,000

AvailableForSale_Securities_Sc

Available-For-Sale Securities (Schedule Of Available-For-Sale Securities Classified As Current Assets) (Details) (USD $)	Feb. 28, 2015		31-May-14
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]
Investment securities available-for-sale	$226,540		$196,189
Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	224,712		194,434
Gains in Accumulated Other Comprehensive Income	178		304
Losses in Accumulated Other Comprehensive Income	86
Investment securities available-for-sale	224,804		194,738
Noncurrent Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,190		999
Gains in Accumulated Other Comprehensive Income	546		452
Investment securities available-for-sale	1,736		1,451
State Municipal Bonds [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	78,433		75,659
Gains in Accumulated Other Comprehensive Income	169		188
Investment securities available-for-sale	78,602		75,847
US Government Obligations [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,454		4,056
Gains in Accumulated Other Comprehensive Income	5		5
Investment securities available-for-sale	4,459		4,061
Corporate Bonds [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	119,970		102,587
Gains in Accumulated Other Comprehensive Income			98
Losses in Accumulated Other Comprehensive Income	84
Investment securities available-for-sale	119,886		102,685
Commercial Paper [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,992		3,927
Gains in Accumulated Other Comprehensive Income			3
Investment securities available-for-sale	6,992		3,930
Certificates Of Deposit [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost			350
Gains in Accumulated Other Comprehensive Income			1
Investment securities available-for-sale			351
Foreign Government Obligations [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,048		1,064
Gains in Accumulated Other Comprehensive Income			2
Investment securities available-for-sale	1,048		1,066
Government Agency Bonds [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,633		4,791
Gains in Accumulated Other Comprehensive Income	4		7
Investment securities available-for-sale	4,637		4,798
Asset Backed Securities [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	9,182
Losses in Accumulated Other Comprehensive Income	2
Investment securities available-for-sale	9,180
Variable Rate Demand Notes [Member] | Current Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost			2,000
Investment securities available-for-sale			2,000
Mutual Funds [Member] | Noncurrent Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,190	[1]	999	[1]
Gains in Accumulated Other Comprehensive Income	546	[1]	452	[1]
Investment securities available-for-sale	$1,736	[1]	$1,451	[1]
[1]	The mutual funds are classified as long term and are a part of “other investments” in the Condensed Consolidated Balance Sheet.

AvailableForSale_Securities_Sc1

Available-For-Sale Securities (Schedule Of Contractual Maturities Of Available-For-Sale Debt Securities) (Details) (USD $)	Feb. 28, 2015
In Thousands, unless otherwise specified
Available-For-Sale Securities [Abstract]
Within one year	$115,120
After 1-5 years	109,684
After 5-10 years
Total	$224,804

Financial_Statement_Impact_Of_1

Financial Statement Impact Of Fires (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 01, 2014	Aug. 30, 2014	Nov. 30, 2013
			property
Property, Plant and Equipment [Line Items]
Insurance claims receivable	$2,000,000
Deductibles and coinsurance	720,000
Cost Of Sales [Member]
Property, Plant and Equipment [Line Items]
Business interruption gains		60,000
Other Income (Expense) [Member]
Property, Plant and Equipment [Line Items]
Gain on property damage insurance claim		886,000
Florida [Member]
Property, Plant and Equipment [Line Items]
Number of pullet houses destroyed			2
Shady Dale Georgia [Member]
Property, Plant and Equipment [Line Items]
Number of pullet houses destroyed	2
Reimbursement of inventory written off		$1,000,000

Equity_Details

Equity (Details) (USD $)	0 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Oct. 31, 2014	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015		Mar. 01, 2014
Schedule of Stockholders Equity [Line Items]
Balance				$594,745
Dividends				-38,402	[1]
Other comprehensive income, net of tax		-25	60	-70		199
Distribution to noncontrolling interest partners				-941
Proceeds from stock option exercise				60
Restricted stock compensation expense				1,529
Net income		50,959	42,956	116,005		78,101
Balance		672,926		672,926
Percentage of net income used to compute accrued dividends				33.33%
Stock split ratio	2			2
Treasury Stock [Member]
Schedule of Stockholders Equity [Line Items]
Balance				-20,453
2-for-1 stock split effected in the form of a dividend				-133
Grant of restricted stock, net of forfeitures				68
Proceeds from stock option exercise				16
Balance		-20,502		-20,502
Paid In Capital [Member]
Schedule of Stockholders Equity [Line Items]
Balance				40,476
2-for-1 stock split effected in the form of a dividend				132
Grant of restricted stock, net of forfeitures				-68
Proceeds from stock option exercise				44
Restricted stock compensation expense				1,529
Balance		42,113		42,113
Accumulated Other Comprehensive Loss [Member]
Schedule of Stockholders Equity [Line Items]
Balance				561
Other comprehensive income, net of tax				-70
Balance		491		491
Retained Earnings [Member]
Schedule of Stockholders Equity [Line Items]
Balance				572,874
Dividends				-38,402	[1]
2-for-1 stock split effected in the form of a dividend				-375
Net income				115,140
Balance		649,237		649,237
Noncontrolling Interests [Member]
Schedule of Stockholders Equity [Line Items]
Balance				912
Distribution to noncontrolling interest partners				-941
Net income				865
Balance		836		836
Common Stock [Member]
Schedule of Stockholders Equity [Line Items]
Balance				351
2-for-1 stock split effected in the form of a dividend				352
Balance		703		703
Class A Common Stock [Member]
Schedule of Stockholders Equity [Line Items]
Balance				24
2-for-1 stock split effected in the form of a dividend				24
Balance		$48		$48
[1]	Dividends are calculated as 1/3 of net income after prior period loss (includes adjustment for actual dividends paid based on accrual from previous period).

Other_Matters_Details

Other Matters (Details)	0 Months Ended	9 Months Ended	0 Months Ended
	Oct. 31, 2014	Feb. 28, 2015	Jul. 25, 2014
Stock split ratio	2	2
Common Stock [Member]
Additional shares authorized			60,000,000
Class A Common Stock [Member]
Additional shares authorized			2,400,000