Cal-Maine Foods (CALM) 10-Q 5 Jan 21 2021 FY Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Nov. 28, 2020	Jan. 05, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 28, 2020
Document Transition Report	false
Entity File Number	000-38695
Entity Registrant Name	CAL-MAINE FOODS, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	64-0500378
Local Phone Number	948-6813
City Area Code	601
Entity Address, Postal Zip Code	39209
Entity Address, State or Province	MS
Entity Address, City or Town	Jackson
Entity Address, Address Line One	3320 Woodrow Wilson Avenue
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CALM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0000016160
Current Fiscal Year End Date	--05-29
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		43,968,231
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,800,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Nov. 28, 2020	May 30, 2020
Current assets:
Cash and cash equivalents	$ 47,308	$ 78,130
Investment securities available-for-sale	124,621	154,163
Trade and other receivables, net	117,278	98,375
Inventories	199,262	187,216
Prepaid expenses and other current assets	5,311	4,367
Total current assets	493,780	522,251
Property, plant & equipment, net	581,744	557,375
Finance lease right-of-use asset, net	601	678
Operating lease right-of-use asset, net	2,124	2,531
Investments in unconsolidated entities	58,345	60,982
Goodwill	35,525	35,525
Intangible assets, net	22,950	22,816
Other long-term assets	5,286	4,536
Total Assets	1,200,355	1,206,694
Current liabilities:
Accounts payable and accrued expenses	93,143	92,182
Current portion of finance lease obligation	210	205
Current portion of operating lease obligation	765	796
Total current liabilities	94,118	93,183
Long-term finance lease obligation	546	652
Long-term operating lease obligation	1,359	1,735
Other noncurrent liabilities	9,195	8,681
Deferred income taxes	90,427	92,768
Total liabilities	195,645	197,019
Commitments and contingencies - see Note 11
Stockholders’ equity:
Paid-in capital	62,206	60,372
Retained earnings	968,325	975,147
Accumulated other comprehensive income, net of tax	151	79
Common stock in treasury at cost – 26,293 shares at November 28, 2020 and 26,287 shares at May 30, 2020	(26,723)	(26,674)
Total stockholders’ equity	1,004,710	1,009,675
Total Liabilities and Stockholders’ Equity	$ 1,200,355	$ 1,206,694
Common Stock
Current liabilities:
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000	70,261
Stockholders’ equity:
Common stock	$ 703	$ 703
Class A Common Stock
Current liabilities:
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	4,800	4,800
Common stock, shares issued (in shares)	4,800	4,800
Stockholders’ equity:
Common stock	$ 48	$ 48

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Nov. 28, 2020	May 30, 2020
Allowance for doubtful accounts	$ 766	$ 744
Common stock, shares outstanding (in shares)	48,768
Treasury stock, shares (in shares)	26,293	26,287
Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000	70,261
Class A Common Stock
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	4,800	4,800
Common stock, shares issued (in shares)	4,800	4,800
Common stock, shares outstanding (in shares)	4,800

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019	Nov. 28, 2020	Nov. 30, 2019
Income Statement [Abstract]
Net sales	$ 347,328	$ 311,522	$ 640,110	$ 552,688
Cost of sales	288,877	282,147	564,894	544,438
Gross profit	58,451	29,375	75,216	8,250
Selling, general and administrative	43,873	45,728	87,838	88,203
Loss on disposal of fixed assets	99	212	122	82
Operating income (loss)	14,479	(16,565)	(12,744)	(80,035)
Other income (expense):
Interest income, net	664	1,140	1,589	2,825
Royalty income	280	348	585	759
Equity income (loss) of unconsolidated entities	58	(454)	14	(908)
Other, net	436	482	948	1,818
Total other income, net	1,438	1,516	3,136	4,494
Income (loss) before income taxes	15,917	(15,049)	(9,608)	(75,541)
Income tax (benefit) expense	3,762	(4,863)	(2,364)	(19,634)
Net income (loss)	12,155	(10,186)	(7,244)	(55,907)
Less: Loss attributable to noncontrolling interest	0	(125)	0	(86)
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 12,155	$ (10,061)	$ (7,244)	$ (55,821)
Basic
Basic (in dollars per share)	$ 0.25	$ (0.21)	$ (0.15)	$ (1.15)
Diluted (in dollars per share)	$ 0.25	$ (0.21)	$ (0.15)	$ (1.15)
Basic
Basic (in shares)	48,501	48,447	48,501	48,447
Diluted (in shares)	48,645	48,447	48,501	48,447

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019	Nov. 28, 2020	Nov. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 12,155	$ (10,186)	$ (7,244)	$ (55,907)
Other comprehensive income (loss), before tax:
Unrealized holding gain (loss) on available-for-sale securities, net of reclassification adjustments	(373)	(241)	95	(825)
(Increase) decrease in accumulated post-retirement benefits obligation, net of reclassification adjustments	(91)	(59)	23	(201)
Income tax (benefit) expense related to items of other comprehensive income	(282)	(182)	72	(624)
Other comprehensive income (loss), net of  tax	11,873	(10,368)	(7,172)	(56,531)
Comprehensive income (loss)	0	(125)	0	(86)
Less: Comprehensive loss attributable to the noncontrolling interest	$ 11,873	$ (10,243)	$ (7,172)	$ (56,445)
Basic (in dollars per share)	$ 0.25	$ (0.21)	$ (0.15)	$ (1.15)
Basic (in shares)	48,501	48,447	48,501	48,447
Diluted (in shares)	48,645	48,447	48,501	48,447
Net sales	$ 347,328	$ 311,522	$ 640,110	$ 552,688
Cost of sales	288,877	282,147	564,894	544,438
Gross Profit	58,451	29,375	75,216	8,250
Selling, general and administrative	43,873	45,728	87,838	88,203
Loss on disposal of fixed assets	99	212	122	82
Operating Income (Loss)	14,479	(16,565)	(12,744)	(80,035)
Interest income, net	664	1,140	1,589	2,825
Royalty income	280	348	585	759
Equity income (loss) of unconsolidated entities	58	(454)	14	(908)
Other, net	436	482	948	1,818
Nonoperating Income (Expense)	1,438	1,516	3,136	4,494
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	15,917	(15,049)	(9,608)	(75,541)
Income tax (benefit) expense	3,762	(4,863)	(2,364)	(19,634)
Net income (loss)	12,155	(10,186)	(7,244)	(55,907)
Less: Loss attributable to noncontrolling interest	0	(125)	0	(86)
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 12,155	$ (10,061)	$ (7,244)	$ (55,821)
Diluted (in dollars per share)	$ 0.25	$ (0.21)	$ (0.15)	$ (1.15)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019
Operating activities:
Net income (loss)	$ (7,244)	$ (55,907)
Depreciation and amortization	29,305	27,571
Impairment loss on property, plant & equipment	0	2,919
Other adjustments, net	(32,712)	(48,855)
Net cash used in operations	(10,651)	(74,272)
Investing activities:
Purchases of investment securities	(29,637)	(10,116)
Sales and maturities of investment securities	59,077	137,160
Distributions from unconsolidated entities	2,650	2,357
Acquisition of business	0	(44,515)
Purchases of property, plant and equipment	(52,373)	(68,106)
Net proceeds from disposal of property, plant and equipment	253	1,866
Net cash provided by (used in) investing activities	(20,030)	18,646
Financing activities:
Purchase of common stock by treasury	(45)	(21)
Distributions to noncontrolling interests	0	(755)
Principal payments on long-term debt	0	(1,500)
Principal payments on finance lease	(101)	(97)
Contributions	5	0
Net cash used in financing activities	(141)	(2,373)
Net change in cash and cash equivalents	(30,822)	(57,999)
Cash and cash equivalents at beginning of period	78,130	69,247
Cash and cash equivalents at end of period	47,308	11,248
Supplemental Information:
Cash paid for operating leases	237	398
Interest paid	$ 129	$ 91

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Nov. 28, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements of Cal-Maine Foods, Inc. and its subsidiaries (the “Company,” “we,” “us,” “our”) have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Therefore, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended May 30, 2020, (the “2020 Annual Report”). These statements reflect all adjustments that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented and, in the opinion of management, consist of adjustments of a normal recurring nature. Operating results for the interim periods are not necessarily indicative of operating results for the entire fiscal year. Fiscal Year The Company's fiscal year ends on the Saturday closest to May 31. Each of the three-month periods and year-to-date periods ended on November 28, 2020 and November 30, 2019 included 13 and 26 weeks, respectively. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict. Therefore, our accounting estimates and assumptions might change materially in future periods in response to COVID-19. Investment Securities Our investment securities are accounted for in accordance with ASC 320, “Investments - Debt and Equity Securities” (“ASC 320”). The Company considers all of its debt securities for which there is a determinable fair market value, and there are no restrictions on the Company's ability to sell within the next 12 months, as available-for-sale. We classify these securities as current, because the amounts invested are available for current operations. Available-for-sale securities are carried at fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity. The Company regularly evaluates changes to the rating of its debt securities by credit agencies and economic conditions to assess and record any expected credit losses through allowance for credit losses limited to the amount that fair value was less than the amortized cost basis. The cost basis for realized gains and losses on available-for-sale securities is determined on the specific identification method. Gains and losses are recognized in other income (expenses) as Other, net in the Company's Condensed Consolidated Statements of Operations. Investments in mutual funds are classified as “Other long-term assets” in the Company’s Consolidated Balance Sheets. Trade Receivables Trade receivables are stated at their carrying value, net of a reserve for credit losses. At November 28, 2020 and May 30, 2020, reserves for credit losses were $766 thousand and $744 thousand, respectively. The Company extends credit to customers based on an evaluation of each customer’s financial condition and credit history. Collateral is generally not required. The Company minimizes exposure to counter party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. In determining our reserve for credit losses, receivables are pooled according to age, with each pool assigned an expected loss percentage based on historical loss experience adjusted as needed for economic and other forward-looking factors. Accounts receivable are written off when deemed uncollectible.

Investment Securities

Investment Securities	6 Months Ended
	Nov. 28, 2020
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The following represents the Company’s investment securities as of November 28, 2020 and May 30, 2020 (in thousands): November 28, 2020 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,378 $ 84 $ — $ 16,462 Commercial paper 3,743 — 7 3,736 Corporate bonds 98,355 1,387 — 99,742 Certificates of deposits 1,001 1 — 1,002 Asset backed securities 3,656 23 — 3,679 Total current investment securities $ 123,133 $ 1,495 $ 7 $ 124,621 Mutual funds $ 2,032 $ 1,281 $ — $ 3,313 Total noncurrent investment securities $ 2,032 $ 1,281 $ — $ 3,313 May 30, 2020 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,093 $ 86 $ — $ 16,179 Commercial paper 6,965 17 — 6,982 Corporate bonds 125,594 1,274 — 126,868 Certificates of deposits 1,492 — — 1,492 Asset backed securities 2,629 13 — 2,642 Total current investment securities $ 152,773 $ 1,390 $ — $ 154,163 Mutual funds $ 2,005 $ 744 $ — $ 2,749 Total noncurrent investment securities $ 2,005 $ 744 $ — $ 2,749 Available-for-sale Proceeds from sales and maturities of investment securities available-for-sale were $59.1 million and $136.0 million during the twenty-six weeks ended November 28, 2020 and November 30, 2019, respectively. Gross realized gains for the twenty-six weeks ended November 28, 2020 and November 30, 2019 were $57 thousand and $162 thousand, respectively. There were no gross realized losses for the twenty-six weeks ended November 28, 2020 and $6 thousand gross realized losses for the twenty-six weeks ended November 30, 2019. There were no allowance for credit losses at November 28, 2020 and May 30, 2020. Actual maturities may differ from contractual maturities as some borrowers have the right to call or prepay obligations with or without penalties. Contractual maturities of current investments at November 28, 2020 are as follows (in thousands): Estimated Fair Value Within one year $ 53,445 1-5 years 71,176 Total $ 124,621 Noncurrent

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Nov. 28, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	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, including: ◦ Quoted prices for similar assets or liabilities in active markets ◦ Quoted prices for identical or similar assets in non-active markets ◦ Inputs other than quoted prices that are observable for the asset or liability ◦ Inputs derived principally from or corroborated by other observable market data • 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 disclosures of fair value of certain financial assets and liabilities that are recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Lease obligations: The carrying value of the Company’s lease obligations is at its present value which approximates fair value. 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 November 28, 2020 and May 30, 2020 (in thousands): November 28, 2020 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,462 $ — $ 16,462 Commercial paper — 3,736 — 3,736 Corporate bonds — 99,742 — 99,742 Certificates of deposits — 1,002 — 1,002 Asset backed securities — 3,679 — 3,679 Mutual funds 3,313 — — 3,313 Total assets measured at fair value $ 3,313 $ 124,621 $ — $ 127,934 May 30, 2020 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,179 $ — $ 16,179 Commercial paper — 6,982 — 6,982 Corporate bonds — 126,868 — 126,868 Certificates of deposits — 1,492 — 1,492 Asset backed securities — 2,642 — 2,642 Mutual funds 2,749 — — 2,749 Total assets measured at fair value $ 2,749 $ 154,163 $ — $ 156,912 Investment securities – available-for-sale classified as level 2 consist of securities with maturities of three months or longer when purchased. Observable inputs for these securities are yields, credit risks, default rates, and volatility.

Inventories

Inventories	6 Months Ended
	Nov. 28, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following as of November 28, 2020 and May 30, 2020 (in thousands): November 28, 2020 May 30, 2020 Flocks, net of amortization $ 113,917 $ 110,198 Eggs and egg products 20,475 18,487 Feed and supplies 64,870 58,531 $ 199,262 $ 187,216

Accrued Dividends Payable and D

Accrued Dividends Payable and Dividends per Common Share	6 Months Ended
	Nov. 28, 2020
Earnings Per Share Reconciliation [Abstract]
Accrued Dividends Payable and Dividends Per Common Share	Accrued Dividends Payable and Dividends per Common ShareWe accrue dividends at the end of each quarter according to the Company’s dividend policy adopted by our Board of Directors. 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 GAAP 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 pays 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. At the end of the second quarter of fiscal 2021, the amount of cumulative losses to be recovered before payment of a dividend was $8.6 million. On our condensed consolidated statement of operations, we determine dividends per common share in accordance with the computation in the following table (in thousands, except per share data): 13 Weeks Ended 26 Weeks Ended November 28, 2020 November 30, 2019 November 28, 2020 November 30, 2019 Net income (loss) attributable to Cal-Maine Foods, Inc. $ 12,155 $ (10,061) $ (7,244) $ (55,821) Cumulative losses to be recovered prior to payment of divided at beginning of period (20,769) (65,521) (1,370) (19,761) Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend $ — $ — $ — $ — 1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend — Common stock outstanding (shares) 43,968 Class A common stock outstanding (shares) 4,800 Total common stock outstanding (shares) 48,768 Dividends per common share* $ — *Dividends per common share = 1/3 of Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares).

Equity

Equity	6 Months Ended
	Nov. 28, 2020
Equity [Abstract]
Equity	Equity The following reflects the Company’s equity activity, for the thirteen and twenty-six weeks ended November 28, 2020 and November 30, 2019 (in thousands): Thirteen Weeks Ended November 28, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Amount Amount Amount Capital Comp. Loss Earnings Total Balance at August 29, 2020 $ 703 $ 48 $ (26,676) $ 61,267 $ 433 $ 956,170 $ 991,945 Other comprehensive loss, net of tax — — — — (282) — (282) Restricted stock forfeitures — — (2) 2 — — — Purchase of company stock — — (45) — — — (45) Restricted stock compensation — — — 932 — — 932 Contributions — — — 5 — — 5 Net income — — — — — 12,155 12,155 Balance at November 28, 2020 $ 703 $ 48 $ (26,723) $ 62,206 $ 151 $ 968,325 $ 1,004,710 Thirteen Weeks Ended November 30, 2019 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at August 31, 2019 $ 703 $ 48 $ (25,878) $ 57,748 $ (87) $ 908,767 $ 2,466 $ 943,767 Other comprehensive loss, net of tax — — — — (182) — — (182) Purchase of company stock — — (10) — — — — (10) Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition — — — — — 1,779 (1,779) — Restricted stock compensation — — — 904 — — — 904 Net loss — — — — — (10,061) (125) (10,186) Balance at November 30, 2019 $ 703 $ 48 $ (25,888) $ 58,652 $ (269) $ 900,485 $ 562 $ 934,293 Twenty-six Weeks Ended November 28, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Amount Amount Amount Capital Comp. Income Earnings Total Balance at May 30, 2020 $ 703 $ 48 $ (26,674) $ 60,372 $ 79 $ 975,147 $ 1,009,675 Impact of ASC 326, see Note 2 — — — — — 422 422 Balance at May 31, 2020 703 48 (26,674) 60,372 79 975,569 1,010,097 Other comprehensive income, net of tax — — — — 72 — 72 Restricted stock grant, net of forfeitures — — (4) 4 — — — Purchase of company stock — — (45) — — — (45) Restricted stock compensation — — — 1,825 — — 1,825 Contributions — — — 5 — — 5 Net loss — — — — — (7,244) (7,244) Balance at November 28, 2020 $ 703 $ 48 $ (26,723) $ 62,206 $ 151 $ 968,325 $ 1,004,710 Twenty-six Weeks Ended November 30, 2019 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at June 1, 2019 $ 703 $ 48 $ (25,866) $ 56,857 $ 355 $ 954,527 $ 3,182 $ 989,806 Other comprehensive loss, net of tax — — — — (624) — — (624) Restricted stock grant, net of forfeitures — — (1) 1 — — — — Purchase of company stock — — (21) — — — — (21) Distributions to noncontrolling interest partners — — — — — — (755) (755) Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition — — — — — 1,779 (1,779) — Restricted stock compensation — — — 1,794 — — — 1,794 Net loss — — — — — (55,821) (86) (55,907) Balance at November 30, 2019 $ 703 $ 48 $ (25,888) $ 58,652 $ (269) $ 900,485 $ 562 $ 934,293

Net Loss per Common Share

Net Loss per Common Share	6 Months Ended
	Nov. 28, 2020
Earnings Per Share [Abstract]
Net Loss per Common Share	Net Loss per Common Share Basic net loss per share attributable to Cal-Maine Foods, Inc. is based on the weighted average Common Stock and Class A Common Stock outstanding. Diluted net income per share attributable to Cal-Maine Foods, Inc. is based on weighted-average common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards. Restricted shares of 135 thousand were antidilutive due to the net loss for the thirteen weeks ended November 30, 2019. Restricted shares of 139 thousand and 123 thousand were antidilutive due to the net loss for the twenty-six weeks ended November 28, 2020 and November 30, 2019, respectively. These shares were not included in the diluted net loss per share calculation. The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Cal-Maine Foods, Inc. (amounts in thousands, except per share data): 13 Weeks Ended 26 Weeks Ended November 28, 2020 November 30, 2019 November 28, 2020 November 30, 2019 Numerator Net income (loss) $ 12,155 $ (10,186) $ (7,244) $ (55,907) Less: Loss attributable to noncontrolling interest — (125) — (86) Net income (loss) attributable to Cal-Maine Foods, Inc. $ 12,155 $ (10,061) $ (7,244) $ (55,821) Denominator Weighted-average common shares outstanding, basic 48,501 48,447 48,501 48,447 Effect of dilutive securities of restricted shares 144 — — — Weighted-average common shares outstanding, diluted 48,645 48,447 48,501 48,447 Net income (loss) per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.25 $ (0.21) $ (0.15) $ (1.15) Diluted $ 0.25 $ (0.21) $ (0.15) $ (1.15)

Revenue Recognition

Revenue Recognition	6 Months Ended
	Nov. 28, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Satisfaction of Performance Obligation The vast majority of the Company’s revenue is derived from contracts with customers based on the customer placing an order for products. Pricing for the most part is determined when the Company and the customer agree upon the specific order, which establishes the contract for that order. Revenues are recognized in an amount that reflects the net consideration we expect to receive in exchange for the goods. Our shell eggs are sold at prices related to independently quoted wholesale market prices, negotiated prices or formulas related to our costs of production. The Company’s sales predominantly contain a single performance obligation. We recognize revenue upon satisfaction of the performance obligation with the customer, which typically occurs within days of the Company and the customer agreeing upon the order. Returns and Refunds Some of our contracts include a guaranteed sale clause, pursuant to which we credit the customer’s account for product the customer is unable to sell before expiration. The Company records an estimate of returns and refunds by using historical return data and comparing to current period sales and accounts receivable. The allowance is recorded as a reduction in sales with a corresponding reduction in trade accounts receivable. Sales Incentives Provided to Customers The Company periodically provides incentive offers to its customers to encourage purchases. Such offers include current discount offers (e.g., percentage discounts off current purchases), inducement offers (e.g., offers for future discounts subject to a minimum current purchase), and other similar offers. Current discount offers, when accepted by customers, are treated as a reduction to the sales price of the related transaction, while inducement offers, when accepted by customers, are treated as a reduction to sales price based on estimated future redemption rates. Disaggregation of Revenue The following table provides revenue disaggregated by product category (in thousands): 13 Weeks Ended 26 Weeks Ended November 28, 2020 November 30, 2019 November 28, 2020 November 30, 2019 Conventional shell egg sales $ 201,725 $ 186,960 $ 357,109 $ 308,569 Specialty shell egg sales 134,082 115,891 263,327 227,099 Egg products 9,932 7,797 16,637 14,998 Other 1,589 874 3,037 2,022 347,328 311,522 640,110 552,688 Contract Costs The Company can incur costs to obtain or fulfill a contract with a customer. Generally, the amortization period of these costs is less than one year; therefore, they are expensed as incurred. Contracts that extend beyond one year are amortized over the contractual terms of the agreement. Contract Balances The Company receives payment from customers based on specified terms that are generally less than 30 days from delivery. There are rarely contract assets or liabilities related to performance under the contract and they are generally immaterial to the financial statements.

Leases

Leases	6 Months Ended
	Nov. 28, 2020
Leases [Abstract]
Leases	Leases Expenses related to operating leases, amortization of finance leases, right-of-use assets, and finance lease interest are included in Cost of sales, Selling general and administrative expense, and Interest income, net in the Condensed Consolidated Statements of Operations. The Company’s lease cost consists of the following (in thousands): 13 Weeks Ended November 28, 2020 26 Weeks Ended November 28, 2020 Operating Lease cost $ 233 $ 470 Finance Lease cost Amortization of right-of-use asset $ 43 $ 81 Interest on lease obligations $ 9 $ 18 Short term lease cost $ 1,004 $ 1,857 Future minimum lease payments under non-cancelable leases are as follows (in thousands): As of November 28, 2020 Operating Leases Finance Leases Remainder fiscal 2021 $ 457 $ 120 2022 802 239 2023 539 239 2024 380 218 2025 130 — 2026 26 — Thereafter 5 — Total 2,339 816 Less imputed interest (215) (60) Total $ 2,124 $ 756 The weighted-average remaining lease term and discount rate for lease liabilities included in our Condensed Consolidated Balance Sheet are as follows: As of November 28, 2020 Operating Leases Finance Leases Weighted-average remaining lease term (years) 3.2 3.0 Weighted-average discount rate 5.9 % 4.9 %
Leases	Leases Expenses related to operating leases, amortization of finance leases, right-of-use assets, and finance lease interest are included in Cost of sales, Selling general and administrative expense, and Interest income, net in the Condensed Consolidated Statements of Operations. The Company’s lease cost consists of the following (in thousands): 13 Weeks Ended November 28, 2020 26 Weeks Ended November 28, 2020 Operating Lease cost $ 233 $ 470 Finance Lease cost Amortization of right-of-use asset $ 43 $ 81 Interest on lease obligations $ 9 $ 18 Short term lease cost $ 1,004 $ 1,857 Future minimum lease payments under non-cancelable leases are as follows (in thousands): As of November 28, 2020 Operating Leases Finance Leases Remainder fiscal 2021 $ 457 $ 120 2022 802 239 2023 539 239 2024 380 218 2025 130 — 2026 26 — Thereafter 5 — Total 2,339 816 Less imputed interest (215) (60) Total $ 2,124 $ 756 The weighted-average remaining lease term and discount rate for lease liabilities included in our Condensed Consolidated Balance Sheet are as follows: As of November 28, 2020 Operating Leases Finance Leases Weighted-average remaining lease term (years) 3.2 3.0 Weighted-average discount rate 5.9 % 4.9 %

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Nov. 28, 2020
Share-based Payment Arrangement [Abstract]
Stock Based Compensation	Stock Based Compensation On October 2, 2020, shareholders approved the Amended and Restated Cal-Maine Foods, Inc. 2012 Omnibus Long-Term Incentive Plan (the “Plan”). The purpose of the Plan is to assist us and our subsidiaries in attracting and retaining selected individuals who are expected to contribute to our long-term success. The maximum number of shares of common stock available for awards under the Plan is 2,000,000, of which 1,239,048 shares remain available for issuance, and may be authorized but unissued shares or treasury shares. Awards may be granted under the Plan to any employee, any non-employee member of the Company’s Board of Directors, and any consultant who is a natural person and provides services to us or one of our subsidiaries (except for incentive stock options, which may be granted only to our employees). The only outstanding awards under the Plan are restricted stock awards. The restricted stock vests three years from the grant date, or upon death or disability, change in control, or retirement (subject to certain requirements). The restricted stock contains no other service or performance conditions. Restricted stock is awarded in the name of the recipient and, except for the right of disposal, constitutes issued and outstanding shares of the Company’s common stock for all corporate purposes during the period of restriction including the right to receive dividends. Compensation expense is a fixed amount based on the grant date closing price and is amortized over the vesting period. Total stock based compensation expense was $932 thousand and $904 thousand for the twenty-six weeks ended November 28, 2020 and November 30, 2019, respectively. Unrecognized compensation expense as a result of non-vested shares of the restricted stock outstanding under the Plan at November 28, 2020 of $4.3 million will be recorded over a weighted average period of 1.8 years. The Company’s restricted share activity for the twenty-six weeks ended November 28, 2020 follows: Number of Shares Weighted Average Grant Date Fair Value Outstanding, May 30, 2020 273,046 $ 41.36 Granted — — Vested (3,718) 43.07 Forfeited (4,431) 40.12 Outstanding, November 28, 2020 264,897 $ 41.36

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Nov. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitment and Contingencies	Commitments and Contingencies Financial Instruments The Company maintained standby letters of credit (“LOC”) totaling $4.3 million at November 28, 2020 which were issued under the Company’s Revolving Credit Facility. The outstanding LOCs are for the benefit of certain insurance companies, and are not recorded as a liability on the consolidated balance sheets. LEGAL PROCEEDINGS State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC On April 23, 2020, the Company and its subsidiary Wharton County Foods, LLC (“WCF”) were named as defendants in State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC, Cause No. 2020-25427, in the District Court of Harris County, Texas. The State of Texas (the “State”) asserted claims based on the Company’s and WCF’s alleged violation of the Texas Deceptive Trade Practices—Consumer Protection Act, Tex. Bus. & Com. Code §§ 17.41-17.63 (“DTPA”). The State claimed that the Company and WCF offered shell eggs at excessive or exorbitant prices during the COVID-19 state of emergency and made misleading statements about shell egg prices. The State sought temporary and permanent injunctions against the Company and WCF to prevent further alleged violations of the DTPA, along with over $100,000 in damages. On August 13, 2020, the court granted the defendants’ motion to dismiss the State’s original petition with prejudice. On September 11, 2020, the State filed a notice of appeal, which was assigned to the Texas Court of Appeals for the First District. The State filed its opening brief on December 7, 2020. The Company’s and WCF’s responses are due in January 2021. Management believes the risk of material loss related to this matter to be remote. Bell et al. v. Cal-Maine Foods et al. On April 30, 2020, the Company was named as one of several defendants in Bell et al. v. Cal-Maine Foods et al., Case No. 1:20-cv-461, in the Western District of Texas, Austin Division. The defendants include numerous grocery stores, retailers, producers, and farms. Plaintiffs assert that defendants violated the DTPA by allegedly demanding exorbitant or excessive prices for eggs during the COVID-19 state of emergency. Plaintiffs request certification of a class of all consumers who purchased eggs in Texas sold, distributed, produced, or handled by any of the defendants during the COVID-19 state of emergency. Plaintiffs seek to enjoin the Company and other defendants from selling eggs at a price more than 10% greater than the price of eggs prior to the declaration of the state of emergency and damages in the amount of $10,000 per violation, or $250,000 for each violation impacting anyone over 65 years old. On December 1, 2020, the Company and certain other defendants filed their motion to dismiss the plaintiffs’ first amended class action complaint. The court has not ruled on this motion to dismiss. Management believes the risk of material loss related to this matter to be remote. Kraft Foods Global, Inc. et al. v. United Egg Producers, Inc. et al. As previously reported, on September 25, 2008, the Company was named as one of several defendants in numerous antitrust cases involving the United States shell egg industry. The Company settled all of these cases, except for the claims of certain plaintiffs who sought substantial damages allegedly arising from the purchase of egg products (as opposed to shell eggs). These remaining plaintiffs are Kraft Food Global, Inc., General Mills, Inc., and Nestle USA, Inc. (the “Egg Products Plaintiffs”) and The Kellogg Company. On September 13, 2019, the case with the Egg Products Plaintiffs was remanded from a multi-district litigation proceeding in the United States District Court for the Eastern District of Pennsylvania, In re Processed Egg Products Antitrust Litigation, MDL No. 2002, to the United States District Court for the Northern District of Illinois, Kraft Foods Global, Inc. et al. v. United Egg Producers, Inc. et al., Case No. 1:11-cv-8808, for trial. The Egg Products Plaintiffs allege that the Company and other defendants violated Section 1 of the Sherman Act, 15. U.S.C. § 1, by agreeing to limit the production of eggs and thereby illegally to raise the prices that plaintiffs paid for processed egg products. In particular, the Egg Products Plaintiffs are attacking certain features of the United Egg Producers animal-welfare guidelines and program used by the Company and many other egg producers. The Egg Products Plaintiffs seek to enjoin the Company and other defendants from engaging in antitrust violations and seek treble money damages. The parties filed a joint status report on May 18, 2020, but no schedule has yet been entered by the court. It appears that the case will not be tried until 2021 or 2022. In addition, on October 24, 2019, the Company entered into a confidential settlement agreement with The Kellogg Company dismissing all claims against the Company for an amount that did not have a material impact on the Company’s financial condition or results of operations. On November 11, 2019, a stipulation for dismissal was filed with the court, but the court has not yet entered a judgment on the filing. The Company intends to continue to defend the remaining case with the Egg Products Plaintiffs as vigorously as possible based on defenses which the Company believes are meritorious and provable. Adjustments, if any, which might result from the resolution of this remaining matter with the Egg Products Plaintiffs have not been reflected in the financial statements. While management believes that there is still a reasonable possibility of a material adverse outcome from the case with the Egg Products Plaintiffs, at the present time, it is not possible to estimate the amount of monetary exposure, if any, to the Company due to a range of factors, including the following, among others: the matter is in the early stages of preparing for trial following remand; any trial will be before a different judge and jury in a different court than prior related cases; there are significant factual issues to be resolved; and there are requests for damages other than compensatory damages ( i.e. , injunction and treble money damages). State of Oklahoma Watershed Pollution Litigation On June 18, 2005, the State of Oklahoma filed suit, in the United States District Court for the Northern District of Oklahoma, against Cal-Maine Foods, Inc. and Tyson Foods, Inc. and affiliates, Cobb-Vantress, Inc., Cargill, Inc. and its affiliate, George’s, Inc. and its affiliate, Peterson Farms, Inc. and Simmons Foods, Inc. The State of Oklahoma claims that through the disposal of chicken litter the defendants have polluted the Illinois River Watershed. This watershed provides water to eastern Oklahoma. The complaint seeks injunctive relief and monetary damages, but the claim for monetary damages has been dismissed by the court. Cal-Maine Foods, Inc. discontinued operations in the watershed. Accordingly, we do not anticipate that Cal-Maine Foods, Inc. will be materially affected by the request for injunctive relief unless the court orders substantial affirmative remediation. Since the litigation began, Cal-Maine Foods, Inc. purchased 100% of the membership interests of Benton County Foods, LLC, which is an ongoing commercial shell egg operation within the Illinois River Watershed. Benton County Foods, LLC is not a defendant in the litigation. The trial in the case began in September 2009 and concluded in February 2010. The case was tried without a jury, and the court has not yet issued its ruling. Management believes the risk of material loss related to this matter to be remote. Other Matters In addition to the above, the Company is involved in various other claims and litigation incidental to its business. Although the outcome of these matters cannot be determined with certainty, management, upon the advice of counsel, is of the opinion that the final outcome should not have a material effect on the Company’s consolidated results of operations or financial position.

Related Party Transaction

Related Party Transaction	6 Months Ended
	Nov. 28, 2020
Related Party Transactions [Abstract]
Related Party Transaction	Related Party TransactionOn August 24, 2020, Mrs. Jean Reed Adams, the wife of the Company’s late founder Fred R. Adams, Jr., and the Fred R. Adams, Jr. Daughters’ Trust, dated July 20, 2018 (the “Daughters’ Trust”), of which the daughters of Mr. Adams are beneficiaries (together, the “Selling Stockholders”), completed a registered secondary public offering of 6,900,000 shares of Common Stock held by them, pursuant to a previously disclosed Agreement Regarding Common Stock (the “Agreement”) filed as an exhibit to our 2020 Annual Report. Mrs. Adams and the Daughters’ Trust advised the Company that they were conducting the offering in order to pay estate taxes related to the settlement of Mr. Adam’s estate and to obtain liquidity. The public offering was made pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-227742), including the Prospectus contained therein dated October 9, 2018, and a related Prospectus Supplement dated August 19, 2020, each of which is on file with the Securities and Exchange Commission. The public offering involved only the sale of shares of Common Stock that were already outstanding, and thus the Company did not issue any new shares or raise any additional capital in the offering. The expenses of the offering (not including the underwriting discount and legal fees and expenses of legal counsel for the Selling Stockholders, which will be paid by the Selling Stockholders) were $1,102,000 and are payable by the Company. Pursuant to the Agreement, the Selling Stockholders were obligated to reimburse the Company $551,000, and have repaid this amount to the Company in full as of the date of filing this Quarterly Report.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Nov. 28, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements of Cal-Maine Foods, Inc. and its subsidiaries (the “Company,” “we,” “us,” “our”) have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Therefore, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements and should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended May 30, 2020, (the “2020 Annual Report”). These statements reflect all adjustments that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented and, in the opinion of management, consist of adjustments of a normal recurring nature. Operating results for the interim periods are not necessarily indicative of operating results for the entire fiscal year.
Fiscal Year	Fiscal Year The Company's fiscal year ends on the Saturday closest to May 31. Each of the three-month periods and year-to-date periods ended on November 28, 2020 and November 30, 2019 included 13 and 26 weeks, respectively.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict. Therefore, our accounting estimates and assumptions might change materially in future periods in response to COVID-19.
Trade Receivables	Trade Receivables Trade receivables are stated at their carrying value, net of a reserve for credit losses. At November 28, 2020 and May 30, 2020, reserves for credit losses were $766 thousand and $744 thousand, respectively. The Company extends credit to customers based on an evaluation of each customer’s financial condition and credit history. Collateral is generally not required. The Company minimizes exposure to counter party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. In determining our reserve for credit losses, receivables are pooled according to age, with each pool assigned an expected loss percentage based on historical loss experience adjusted as needed for economic and other forward-looking factors. Accounts receivable are written off when deemed uncollectible.
Change in Accounting Principle	Change in Accounting PrincipleEffective May 31, 2020, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (“Topic 326”), which is intended to improve financial reporting by requiring more timely recording of credit losses on loans and other financial instruments. The guidance replaces the prior “incurred loss” approach with an “expected loss” model and requires measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The Company adopted the guidance on a modified retrospective basis through a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The Company evaluated its current methodology of estimating allowance for doubtful accounts and the risk profile of its receivables portfolio and developed a model that includes the qualitative and forecasting aspects of the “expected loss” model under the amended guidance. The Company finalized its assessment of the impact of the amended guidance and recorded a $422 thousand cumulative increase to retained earnings at May 31, 2020.
Investment, Policy	Investment SecuritiesOur investment securities are accounted for in accordance with ASC 320, “Investments - Debt and Equity Securities” (“ASC 320”). The Company considers all of its debt securities for which there is a determinable fair market value, and there are no restrictions on the Company's ability to sell within the next 12 months, as available-for-sale. We classify these securities as current, because the amounts invested are available for current operations. Available-for-sale securities are carried at fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity. The Company regularly evaluates changes to the rating of its debt securities by credit agencies and economic conditions to assess and record any expected credit losses through allowance for credit losses limited to the amount that fair value was less than the amortized cost basis. The cost basis for realized gains and losses on available-for-sale securities is determined on the specific identification method. Gains and losses are recognized in other income (expenses) as Other, net in the Company's Condensed Consolidated Statements of Operations. Investments in mutual funds are classified as “Other long-term assets” in the Company’s Consolidated Balance Sheets.

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Nov. 28, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule Of Investment Securities	The following represents the Company’s investment securities as of November 28, 2020 and May 30, 2020 (in thousands): November 28, 2020 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,378 $ 84 $ — $ 16,462 Commercial paper 3,743 — 7 3,736 Corporate bonds 98,355 1,387 — 99,742 Certificates of deposits 1,001 1 — 1,002 Asset backed securities 3,656 23 — 3,679 Total current investment securities $ 123,133 $ 1,495 $ 7 $ 124,621 Mutual funds $ 2,032 $ 1,281 $ — $ 3,313 Total noncurrent investment securities $ 2,032 $ 1,281 $ — $ 3,313 May 30, 2020 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,093 $ 86 $ — $ 16,179 Commercial paper 6,965 17 — 6,982 Corporate bonds 125,594 1,274 — 126,868 Certificates of deposits 1,492 — — 1,492 Asset backed securities 2,629 13 — 2,642 Total current investment securities $ 152,773 $ 1,390 $ — $ 154,163 Mutual funds $ 2,005 $ 744 $ — $ 2,749 Total noncurrent investment securities $ 2,005 $ 744 $ — $ 2,749
Schedule Of Contractual Maturities Of Investment Securities	Contractual maturities of current investments at November 28, 2020 are as follows (in thousands): Estimated Fair Value Within one year $ 53,445 1-5 years 71,176 Total $ 124,621

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Nov. 28, 2020
Fair Value Disclosures [Abstract]
Schedule Of 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 November 28, 2020 and May 30, 2020 (in thousands): November 28, 2020 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,462 $ — $ 16,462 Commercial paper — 3,736 — 3,736 Corporate bonds — 99,742 — 99,742 Certificates of deposits — 1,002 — 1,002 Asset backed securities — 3,679 — 3,679 Mutual funds 3,313 — — 3,313 Total assets measured at fair value $ 3,313 $ 124,621 $ — $ 127,934 May 30, 2020 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,179 $ — $ 16,179 Commercial paper — 6,982 — 6,982 Corporate bonds — 126,868 — 126,868 Certificates of deposits — 1,492 — 1,492 Asset backed securities — 2,642 — 2,642 Mutual funds 2,749 — — 2,749 Total assets measured at fair value $ 2,749 $ 154,163 $ — $ 156,912

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Nov. 28, 2020
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories consisted of the following as of November 28, 2020 and May 30, 2020 (in thousands): November 28, 2020 May 30, 2020 Flocks, net of amortization $ 113,917 $ 110,198 Eggs and egg products 20,475 18,487 Feed and supplies 64,870 58,531 $ 199,262 $ 187,216

Accrued Dividends Payable and_2

Accrued Dividends Payable and Dividends per Common Share (Tables)	6 Months Ended
	Nov. 28, 2020
Earnings Per Share Reconciliation [Abstract]
Schedule of Dividends	On our condensed consolidated statement of operations, we determine dividends per common share in accordance with the computation in the following table (in thousands, except per share data): 13 Weeks Ended 26 Weeks Ended November 28, 2020 November 30, 2019 November 28, 2020 November 30, 2019 Net income (loss) attributable to Cal-Maine Foods, Inc. $ 12,155 $ (10,061) $ (7,244) $ (55,821) Cumulative losses to be recovered prior to payment of divided at beginning of period (20,769) (65,521) (1,370) (19,761) Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend $ — $ — $ — $ — 1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend — Common stock outstanding (shares) 43,968 Class A common stock outstanding (shares) 4,800 Total common stock outstanding (shares) 48,768 Dividends per common share* $ — *Dividends per common share = 1/3 of Net income (loss) attributable to Cal-Maine Foods, Inc. available for dividend ÷ Total common stock outstanding (shares).

Equity (Tables)

Equity (Tables)	6 Months Ended
	Nov. 28, 2020
Equity [Abstract]
Schedule Of Statement Of Stockholders' Equity Activities, Including Noncontrolling Interest	The following reflects the Company’s equity activity, for the thirteen and twenty-six weeks ended November 28, 2020 and November 30, 2019 (in thousands): Thirteen Weeks Ended November 28, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Amount Amount Amount Capital Comp. Loss Earnings Total Balance at August 29, 2020 $ 703 $ 48 $ (26,676) $ 61,267 $ 433 $ 956,170 $ 991,945 Other comprehensive loss, net of tax — — — — (282) — (282) Restricted stock forfeitures — — (2) 2 — — — Purchase of company stock — — (45) — — — (45) Restricted stock compensation — — — 932 — — 932 Contributions — — — 5 — — 5 Net income — — — — — 12,155 12,155 Balance at November 28, 2020 $ 703 $ 48 $ (26,723) $ 62,206 $ 151 $ 968,325 $ 1,004,710 Thirteen Weeks Ended November 30, 2019 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at August 31, 2019 $ 703 $ 48 $ (25,878) $ 57,748 $ (87) $ 908,767 $ 2,466 $ 943,767 Other comprehensive loss, net of tax — — — — (182) — — (182) Purchase of company stock — — (10) — — — — (10) Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition — — — — — 1,779 (1,779) — Restricted stock compensation — — — 904 — — — 904 Net loss — — — — — (10,061) (125) (10,186) Balance at November 30, 2019 $ 703 $ 48 $ (25,888) $ 58,652 $ (269) $ 900,485 $ 562 $ 934,293 Twenty-six Weeks Ended November 28, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Amount Amount Amount Capital Comp. Income Earnings Total Balance at May 30, 2020 $ 703 $ 48 $ (26,674) $ 60,372 $ 79 $ 975,147 $ 1,009,675 Impact of ASC 326, see Note 2 — — — — — 422 422 Balance at May 31, 2020 703 48 (26,674) 60,372 79 975,569 1,010,097 Other comprehensive income, net of tax — — — — 72 — 72 Restricted stock grant, net of forfeitures — — (4) 4 — — — Purchase of company stock — — (45) — — — (45) Restricted stock compensation — — — 1,825 — — 1,825 Contributions — — — 5 — — 5 Net loss — — — — — (7,244) (7,244) Balance at November 28, 2020 $ 703 $ 48 $ (26,723) $ 62,206 $ 151 $ 968,325 $ 1,004,710 Twenty-six Weeks Ended November 30, 2019 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at June 1, 2019 $ 703 $ 48 $ (25,866) $ 56,857 $ 355 $ 954,527 $ 3,182 $ 989,806 Other comprehensive loss, net of tax — — — — (624) — — (624) Restricted stock grant, net of forfeitures — — (1) 1 — — — — Purchase of company stock — — (21) — — — — (21) Distributions to noncontrolling interest partners — — — — — — (755) (755) Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition — — — — — 1,779 (1,779) — Restricted stock compensation — — — 1,794 — — — 1,794 Net loss — — — — — (55,821) (86) (55,907) Balance at November 30, 2019 $ 703 $ 48 $ (25,888) $ 58,652 $ (269) $ 900,485 $ 562 $ 934,293

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	6 Months Ended
	Nov. 28, 2020
Earnings Per Share [Abstract]
Computation Of Basic And Diluted Net Income Per Share Attributable To The Company	The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share attributable to Cal-Maine Foods, Inc. (amounts in thousands, except per share data): 13 Weeks Ended 26 Weeks Ended November 28, 2020 November 30, 2019 November 28, 2020 November 30, 2019 Numerator Net income (loss) $ 12,155 $ (10,186) $ (7,244) $ (55,907) Less: Loss attributable to noncontrolling interest — (125) — (86) Net income (loss) attributable to Cal-Maine Foods, Inc. $ 12,155 $ (10,061) $ (7,244) $ (55,821) Denominator Weighted-average common shares outstanding, basic 48,501 48,447 48,501 48,447 Effect of dilutive securities of restricted shares 144 — — — Weighted-average common shares outstanding, diluted 48,645 48,447 48,501 48,447 Net income (loss) per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.25 $ (0.21) $ (0.15) $ (1.15) Diluted $ 0.25 $ (0.21) $ (0.15) $ (1.15)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Nov. 28, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides revenue disaggregated by product category (in thousands): 13 Weeks Ended 26 Weeks Ended November 28, 2020 November 30, 2019 November 28, 2020 November 30, 2019 Conventional shell egg sales $ 201,725 $ 186,960 $ 357,109 $ 308,569 Specialty shell egg sales 134,082 115,891 263,327 227,099 Egg products 9,932 7,797 16,637 14,998 Other 1,589 874 3,037 2,022 347,328 311,522 640,110 552,688

Leases (Tables)

Leases (Tables)	6 Months Ended
	Nov. 28, 2020
Leases [Abstract]
Schedule of Lease Cost and Weighted Average Information	The Company’s lease cost consists of the following (in thousands): 13 Weeks Ended November 28, 2020 26 Weeks Ended November 28, 2020 Operating Lease cost $ 233 $ 470 Finance Lease cost Amortization of right-of-use asset $ 43 $ 81 Interest on lease obligations $ 9 $ 18 Short term lease cost $ 1,004 $ 1,857 The weighted-average remaining lease term and discount rate for lease liabilities included in our Condensed Consolidated Balance Sheet are as follows: As of November 28, 2020 Operating Leases Finance Leases Weighted-average remaining lease term (years) 3.2 3.0 Weighted-average discount rate 5.9 % 4.9 %
Schedule of Future Minimum Lease Payments, Operating	Future minimum lease payments under non-cancelable leases are as follows (in thousands): As of November 28, 2020 Operating Leases Finance Leases Remainder fiscal 2021 $ 457 $ 120 2022 802 239 2023 539 239 2024 380 218 2025 130 — 2026 26 — Thereafter 5 — Total 2,339 816 Less imputed interest (215) (60) Total $ 2,124 $ 756
Schedule of Future Minimum Lease Payments, Finance	Future minimum lease payments under non-cancelable leases are as follows (in thousands): As of November 28, 2020 Operating Leases Finance Leases Remainder fiscal 2021 $ 457 $ 120 2022 802 239 2023 539 239 2024 380 218 2025 130 — 2026 26 — Thereafter 5 — Total 2,339 816 Less imputed interest (215) (60) Total $ 2,124 $ 756

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Nov. 28, 2020
Share-based Payment Arrangement [Abstract]
Summary Of Restricted Share Activity	The Company’s restricted share activity for the twenty-six weeks ended November 28, 2020 follows: Number of Shares Weighted Average Grant Date Fair Value Outstanding, May 30, 2020 273,046 $ 41.36 Granted — — Vested (3,718) 43.07 Forfeited (4,431) 40.12 Outstanding, November 28, 2020 264,897 $ 41.36

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Nov. 28, 2020	Aug. 29, 2020	May 30, 2020	Nov. 30, 2019	Aug. 31, 2019	Jun. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for doubtful accounts	$ 766		$ 744
Cumulative increase (decrease) to retained earnings	1,004,710	$ 991,945	1,009,675	$ 934,293	$ 943,767	$ 989,806
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative increase (decrease) to retained earnings	968,325	$ 956,170	975,147	$ 900,485	$ 908,767	$ 954,527
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative increase (decrease) to retained earnings			422
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative increase (decrease) to retained earnings	$ 422		$ 422

Investment Securities (Schedule

Investment Securities (Schedule Of Investment Securities) (Details) - USD ($) $ in Thousands	Nov. 28, 2020	May 30, 2020
Current Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 123,133	$ 152,773
Unrealized Gains	1,495	1,390
Unrealized Losses	7	0
Estimated Fair Value	124,621	154,163
Noncurrent Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,032	2,005
Unrealized Gains	1,281	744
Unrealized Losses	0	0
Estimated Fair Value	3,313	2,749
Municipal bonds | Current Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,378	16,093
Unrealized Gains	84	86
Unrealized Losses	0	0
Estimated Fair Value	16,462	16,179
Commercial paper | Current Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,743	6,965
Unrealized Gains	0	17
Unrealized Losses	7	0
Estimated Fair Value	3,736	6,982
Corporate bonds | Current Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	98,355	125,594
Unrealized Gains	1,387	1,274
Unrealized Losses	0	0
Estimated Fair Value	99,742	126,868
Certificates of deposits | Current Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,001	1,492
Unrealized Gains	1	0
Unrealized Losses	0	0
Estimated Fair Value	1,002	1,492
Asset backed securities | Current Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,656	2,629
Unrealized Gains	23	13
Unrealized Losses	0	0
Estimated Fair Value	3,679	2,642
Mutual funds | Noncurrent Assets
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,032	2,005
Unrealized Gains	1,281	744
Unrealized Losses	0	0
Estimated Fair Value	$ 3,313	$ 2,749

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($)	6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019
Current Assets
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of available-for-sale securities	$ 59,100,000	$ 136,000,000
Gross realized gains on sales of available-for-sale securities	57,000	162,000
Gross realized losses on sales of available-for-sale securities	0	0
Noncurrent Assets
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of available-for-sale securities	0	1,200,000
Gross realized gains on sales of available-for-sale securities		611,000
Gross realized losses on sales of available-for-sale securities	0	0
Available-for-sale Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Accounts Receivable, Allowance for Credit Loss	$ 0	$ 0

Investment Securities (Schedu_2

Investment Securities (Schedule Of Contractual Maturities Of Investment Securities) (Details) $ in Thousands	Nov. 28, 2020USD ($)
Investments, Debt and Equity Securities [Abstract]
Within one year	$ 53,445
1-5 years	71,176
Total	$ 124,621

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	Nov. 28, 2020	May 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 127,934	$ 156,912
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	3,313	2,749
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	124,621	154,163
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	0	0
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	16,462	16,179
Municipal bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Municipal bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	16,462	16,179
Municipal bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,736	6,982
Commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,736	6,982
Commercial paper | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	99,742	126,868
Corporate bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Corporate bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	99,742	126,868
Corporate bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Certificates of deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	1,002	1,492
Certificates of deposits | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Certificates of deposits | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	1,002	1,492
Certificates of deposits | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,679	2,642
Asset backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Asset backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,679	2,642
Asset backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,313	2,749
Mutual funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,313	2,749
Mutual funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Mutual funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	$ 0	$ 0

Inventories (Details)

Inventories (Details) $ in Thousands, pullet_and_breeder in Millions, layer in Millions	Nov. 28, 2020USD ($)pullet_and_breederlayer	May 30, 2020USD ($)
Inventory Disclosure [Abstract]
Flocks, net of amortization	$ 113,917	$ 110,198
Eggs and egg products	20,475	18,487
Feed and supplies	64,870	58,531
Total inventories	$ 199,262	$ 187,216
Pullets and breeders | pullet_and_breeder	9.9
Layer | layer	41.5

Accrued Dividends Payable and_3

Accrued Dividends Payable and Dividends per Common Share (Narrative) (Details) $ in Millions	6 Months Ended
	Nov. 28, 2020USD ($)
Earnings Per Share Reconciliation [Abstract]
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
Cumulative Losses To Be Recovered Prior To Paying Dividend	$ 8.6

Accrued Dividends Payable and_4

Accrued Dividends Payable and Dividends per Common Share (Schedule of Dividends) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019	Nov. 28, 2020	Nov. 30, 2019
Class of Stock [Line Items]
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 12,155	$ (10,061)	$ (7,244)	$ (55,821)
Cumulative losses to be recovered prior to payment of divided at beginning of period	(20,769)	(65,521)	(1,370)	(19,761)
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 0	$ 0	$ 0	$ 0
Common stock, shares outstanding (in shares)	48,768		48,768
Dividends per common share (in dollars per share)	$ 0
Common Stock
Class of Stock [Line Items]
One third of net income attributable to parent	$ 0
Common stock, shares outstanding (in shares)	43,968		43,968
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	4,800		4,800

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019	Nov. 28, 2020	Nov. 30, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	$ 991,945	$ 943,767	$ 1,009,675	$ 989,806
Other comprehensive loss, net of tax	(282)	(182)	72	(624)
Restricted stock forfeitures	0		0
Purchase of company stock	(45)	(10)	(45)	(21)
Distributions to noncontrolling interests			0	(755)
Restricted stock compensation	932	904	1,825	1,794
Contributions	5		5
Net income (loss)	12,155	(10,186)	(7,244)	(55,907)
Balance ending	1,004,710	934,293	1,004,710	934,293
Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			422
Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			1,010,097
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	(26,676)	(25,878)	(26,674)	(25,866)
Restricted stock forfeitures	(2)		(4)	(1)
Purchase of company stock	(45)	(10)	(45)	(21)
Balance ending	(26,723)	(25,888)	(26,723)	(25,888)
Treasury Stock | Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			(26,674)
Paid In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	61,267	57,748	60,372	56,857
Restricted stock forfeitures	2		4	1
Restricted stock compensation	932	904	1,825	1,794
Contributions	5		5
Balance ending	62,206	58,652	62,206	58,652
Paid In Capital | Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			60,372
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	433	(87)	79	355
Other comprehensive loss, net of tax	(282)	(182)	72	(624)
Balance ending	151	(269)	151	(269)
Accumulated Other Comprehensive Loss | Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			79
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	956,170	908,767	975,147	954,527
Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition		1,779		1,779
Net income (loss)	12,155	(10,061)	(7,244)	(55,821)
Balance ending	968,325	900,485	968,325	900,485
Retained Earnings | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			422
Balance ending	422		422
Retained Earnings | Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			975,569
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning		2,466		3,182
Distributions to noncontrolling interests				(755)
Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition		(1,779)		(1,779)
Net income (loss)		(125)		(86)
Balance ending		562		562
Common Stock | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	703	703	703	703
Balance ending	703	703	703	703
Common Stock | Common Stock | Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			703
Class A Common Stock | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning	48	48	48	48
Balance ending	$ 48	$ 48	48	$ 48
Class A Common Stock | Common Stock | Cumulative Effect, Period of Adoption, Adjusted Balance
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance beginning			$ 48

Net Loss per Common Share (Deta

Net Loss per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019	Nov. 28, 2020	Nov. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	$ 12,155	$ (10,186)	$ (7,244)	$ (55,907)
Less: Loss attributable to noncontrolling interest	0	(125)	0	(86)
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 12,155	$ (10,061)	$ (7,244)	$ (55,821)
Basic weighted-average common shares (in shares)	48,501	48,447	48,501	48,447
Weighted Average Number Diluted Shares Outstanding Adjustment	144
Dilutive potential common shares (in shares)	48,645	48,447	48,501	48,447
Net income (loss) per common share attributable to Cal-Maine Foods, Inc.
Basic (in dollars per share)	$ 0.25	$ (0.21)	$ (0.15)	$ (1.15)
Diluted (in dollars per share)	$ 0.25	$ (0.21)	$ (0.15)	$ (1.15)
Restricted Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive restricted securities excluded from diluted net loss per share calculation (in shares)				135

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Nov. 30, 2019	Nov. 28, 2020	Nov. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 347,328	$ 311,522	$ 640,110	$ 552,688
Conventional shell egg sales
Disaggregation of Revenue [Line Items]
Net sales	201,725	186,960	357,109	308,569
Specialty shell egg sales
Disaggregation of Revenue [Line Items]
Net sales	134,082	115,891	263,327	227,099
Egg products
Disaggregation of Revenue [Line Items]
Net sales	9,932	7,797	16,637	14,998
Other
Disaggregation of Revenue [Line Items]
Net sales	$ 1,589	$ 874	$ 3,037	$ 2,022

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Nov. 28, 2020	Nov. 28, 2020
Leases [Abstract]
Operating Lease cost	$ 233	$ 470
Finance Lease cost
Amortization of right-of-use asset	43	81
Interest on lease obligations	9	18
Short term lease cost	$ 1,004	$ 1,857

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Nov. 28, 2020USD ($)
Operating Leases
Remainder fiscal 2021	$ 457
2022	802
2023	539
2024	380
2025	130
2026	26
Thereafter	5
Total	2,339
Less imputed interest	(215)
Total	2,124
Finance Leases
Remainder fiscal 2021	120
2022	239
2023	239
2024	218
2025	0
2026	0
Thereafter	0
Total	816
Less imputed interest	(60)
Total	$ 756

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Information (Details)	Nov. 28, 2020
Operating Leases
Weighted-average remaining lease term (years)	3 years 2 months 12 days
Weighted-average discount rate	5.90%
Finance Leases
Weighted-average remaining lease term (years)	3 years
Weighted-average discount rate	4.90%

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 28, 2020	Dec. 01, 2018	Nov. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,000,000		2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,239,048		1,239,048
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense (benefit)	$ 932	$ 904
Unrecognized compensation expense	$ 4,300		$ 4,300
Weighted average period of unrecognized compensation expense (in years)			1 year 9 months 18 days

Stock Based Compensation (Summa

Stock Based Compensation (Summary Of Restricted Share Activity) (Details) - Restricted Shares	6 Months Ended
	Nov. 28, 2020$ / sharesshares
Number of Shares
Number of Shares, Outstanding, Beginning Balance (in shares) | shares	273,046
Number of Shares, Granted (in shares) | shares	0
Number of Shares, Vested (in shares) | shares	(3,718)
Number of Shares, Forfeited (in shares) | shares	(4,431)
Number of Shares, Outstanding, Ending Balance (in shares) | shares	264,897
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance (in dollars per share) | $ / shares	$ 41.36
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	0
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	43.07
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	40.12
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance (in dollars per share) | $ / shares	$ 41.36

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Apr. 23, 2020	Nov. 28, 2020
Loss Contingencies [Line Items]
Standby letters of credit			$ 4,300
State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC | Pending Litigation [Member]
Loss Contingencies [Line Items]
Loss contingency, damages sought		$ 100
Bell et al. v. Cal-Maine Foods et al. | Pending Litigation [Member] | Minimum
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 10
Bell et al. v. Cal-Maine Foods et al. | Pending Litigation [Member] | Maximum
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 250

Related Party Transaction (Deta

Related Party Transaction (Details) - Immediate Family Member of Management or Principal Owner $ in Thousands	Aug. 24, 2020USD ($)
Related Party Transaction [Line Items]
Amount payable to the Selling Stockholders	$ 1,102
Amount reimbursable by the Selling Stockholders	$ 551