Cal-Maine Foods (CALM) 10-Q 29 Mar 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Feb. 27, 2021	Mar. 29, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 27, 2021
Document Transition Report	false
Entity File Number	000-38695
Entity Registrant Name	CAL-MAINE FOODS, INC
Entity Incorporation State 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 1	3320 Woodrow Wilson Avenue
Security 12b Title	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	Q3
Amendment Flag	false
Entity Central Index Key	0000016160
Current Fiscal Year End Date	--05-29
Common Stock [Member]
Document Information [Line Items]
Entity Common Stock Shares Outstanding		44,056,163
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock Shares Outstanding		4,800,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 27, 2021	May 30, 2020
Current assets:
Cash and cash equivalents	$ 52,917	$ 78,130
Investment securities available-for-sale	127,771	154,163
Trade and other receivables, net	130,314	98,375
Inventories	207,739	187,216
Prepaid expenses and other current assets	4,162	4,367
Total current assets	522,903	522,251
Property, plant & equipment, net	585,389	557,375
Finance lease right-of-use asset, net	563	678
Operating lease right-of-use asset, net	1,922	2,531
Investments in unconsolidated entities	57,055	60,982
Goodwill	35,525	35,525
Intangible assets, net	22,256	22,816
Other long-term assets	5,671	4,536
Total Assets	1,231,284	1,206,694
Current liabilities:
Accounts payable and accrued expenses	99,851	92,182
Current portion of finance lease obligation	212	205
Current portion of operating lease obligation	741	796
Total current liabilities	100,804	93,183
Long-term finance lease obligation	492	652
Long-term operating lease obligation	1,180	1,735
Other noncurrent liabilities	9,690	8,681
Deferred income taxes	102,669	92,768
Total liabilities	214,835	197,019
Commitments and contingencies - see Note 12
Stockholders' equity:
Paid-in capital	63,170	60,372
Retained earnings	980,212	975,147
Accumulated other comprehensive income (loss), net of tax	(135)	79
Common stock in treasury at cost - 26,205 shares at February 27, 2021 and 26,287 shares at May 30, 2020	(27,549)	(26,674)
Total stockholders' equity	1,016,449	1,009,675
Total Liabilities and Stockholders' Equity	1,231,284	1,206,694
Common Stock [Member]
Stockholders' equity:
Common stock	703	703
Class A Common Stock [Member]
Stockholders' equity:
Common stock	$ 48	$ 48

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 27, 2021	May 30, 2020
Treasury stock, shares	26,205,000	26,287,000
Common Stock [Member]
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	70,261,000	70,261,000
Class A Common Stock [Member]
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	4,800,000	4,800,000
Common stock, shares issued	4,800,000	4,800,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Condensed Consolidated Statements of Operations [Abstract]
Net sales	$ 359,080	$ 345,588	$ 999,189	$ 898,276
Cost of sales	311,563	295,760	876,457	840,198
Gross profit	47,517	49,828	122,732	58,078
Selling, general and administrative	47,656	44,231	135,494	132,434
Loss on disposal of fixed assets	354	385	476	467
Operating income (loss)	(493)	5,212	(13,238)	(74,823)
Other income (expense):
Interest income, net	591	803	2,181	3,628
Royalty income	321	414	906	1,173
Patronage dividends	9,004	10,096	9,004	10,096
Equity income of unconsolidated entities	1,872	1,445	1,886	537
Other, net	537	79	1,485	1,897
Total other income, net	12,325	12,837	15,462	17,331
Income (loss) before income taxes	11,832	18,049	2,224	(57,492)
Income tax (benefit) expense	(1,716)	4,278	(4,080)	(15,356)
Net income (loss)	13,548	13,771	6,304	(42,136)
Less: Income (loss) attributable to noncontrolling interest	0	22	0	(64)
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 13,548	$ 13,749	$ 6,304	$ (42,072)
Net income (loss) per common share attributable to Cal-Maine Foods, Inc.:
Basic (in dollars per share)	$ 0.28	$ 0.28	$ 0.13	$ (0.87)
Diluted (in dollars per share)	$ 0.28	$ 0.28	$ 0.13	$ (0.87)
Weighted average shares outstanding:
Basic	48,530	48,473	48,511	48,455
Diluted	48,659	48,588	48,649	48,455

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net profit (loss)	$ 13,548	$ 13,771	$ 6,304	$ (42,136)
Other comprehensive income (loss), before tax:
Unrealized holding loss on available-for-sale securities, net of reclassification adjustments	(378)	(38)	(283)	(863)
Income tax benefit related to items of other comprehensive income	92	9	69	210
Other comprehensive loss, net of tax	(286)	(29)	(214)	(653)
Comprehensive income (loss)	13,262	13,742	6,090	(42,789)
Less: Comprehensive income (loss) attributable to the noncontrolling interest	0	22	0	(64)
Comprehensive income (loss) attributable to Cal-Maine Foods, Inc.	$ 13,262	$ 13,720	$ 6,090	$ (42,725)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020
Operating activities:
Net income (loss)	$ 6,304	$ (42,136)
Depreciation and amortization	44,391	42,911
Deferred income taxes	9,970	(13,406)
Impairment loss on property, plant & equipment	0	2,919
Other adjustments, net	(45,936)	(26,742)
Net cash provided by (used in) operations	14,729	(36,454)
Investing activities:
Purchases of investment securities	(59,415)	(12,100)
Sales and maturities of investment securities	85,202	181,533
Distributions from unconsolidated entities	5,813	6,114
Acquisition of business	0	(44,515)
Purchases of property, plant and equipment	(73,796)	(94,600)
Net proceeds from disposal of property, plant and equipment	3,273	1,839
Net cash provided by (used in) investing activities	(38,923)	38,271
Financing activities:
Purchase of common stock by treasury	(871)	(910)
Distributions to noncontrolling interests	0	(755)
Principal payments on long-term debt	0	(1,500)
Principal payments on finance lease	(153)	(146)
Contributions	5	0
Net cash used in financing activities	(1,019)	(3,311)
Net change in cash and cash equivalents	(25,213)	(1,494)
Cash and cash equivalents at beginning of period	78,130	69,247
Cash and cash equivalents at end of period	52,917	67,753
Supplemental Information:
Cash paid for operating leases	703	635
Interest paid	$ 193	$ 77

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Feb. 27, 2021
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 - Summary of Significant Accounting Policies Basis of Presentation The "we," Therefore, they United Report adjustments that are, in and, periods are not necessarily indicative of operating results for the entire fiscal Fiscal Year The Company's ended on February 27, 2021 and February 29, 2020 included 13 weeks Use of Estimates The preparation of the assumptions could differ from those estimates. The severity, changing periods in response to COVID-19. Investment Securities Our investment 320”). restrictions current, because the with unrealized changes to losses through allowance basis for realized gains and losses Operations. Sheets. Trade Receivables Trade 30, 728 744 customers based on The limits, monitoring assigned factors. Change in Accounting Principle Effective intended instruments held by financial institutions and other organizations. an “expected based guidance on the period of risk “expected guidance and recorded a $ 422

Investment Securities

Investment Securities	9 Months Ended
	Feb. 27, 2021
Investments Securities [Abstract]
Investment Securities	Note 2 - Investment Securities The following represents the Company’s February 27, 2021 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,157 $ 52 $ — $ 16,209 Commercial paper 6,345 — — 6,345 Corporate bonds 92,256 1,062 — 93,318 Certificates of deposits 2,084 — 7 2,077 Asset backed securities 9,823 — 1 9,822 Total current $ 126,665 $ 1,114 $ 8 $ 127,771 Mutual funds $ 2,293 $ 1,424 $ — $ 3,717 Total noncurrent $ 2,293 $ 1,424 $ — $ 3,717 43981 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 $ 152,773 $ 1,390 $ — $ 154,163 Mutual funds $ 2,005 $ 744 $ — $ 2,749 Total noncurrent $ 2,005 $ 744 $ — $ 2,749 Available-for-sale Proceeds from sales 85.2 181.5 thirty-nine weeks ended 116 246 17 thousand 7 respectively. no Actual maturities without penalties. Estimated Fair Value Within one year $ 44,862 1-5 years 82,909 Total $ 127,771 Noncurrent There were no sales 1.2 2020. 611 no losses for the thirty-nine weeks ended February 27, 2021 and February

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Feb. 27, 2021
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 3 - Fair Value The Company hierarchy. knowledgeable, and willing be settle the liability with the creditor. • Level 1 • Level 2 directly or indirectly, ◦ 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 • Level 3 significant to the fair value of the assets or liabilities The disclosures of fair value of certain financial assets and liabilities that are recorded Cash and cash equivalents, accounts receivable, short maturity of these instruments. Lease obligations: Assets and Liabilities Measured at Fair In liabilities measured at fair value on a recurring basis as of February 27, 2021 and May 30, February 27, 2021 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,209 $ — $ 16,209 Commercial paper — 6,345 — 6,345 Corporate bonds — 93,318 — 93,318 Certificates of deposits — 2,077 — 2,077 Asset backed securities — 9,822 — 9,822 Mutual funds 3,717 — — 3,717 Total assets measured at fair $ 3,717 $ 127,771 $ — $ 131,488 43981 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 $ 2,749 $ 154,163 $ — $ 156,912 Investment when purchased. Observable inputs for these securities are yields, credit risks, default

Inventories

Inventories	9 Months Ended
	Feb. 27, 2021
Inventories [Abstract]
Inventories	Note 4 - Inventories Inventories consisted of the following as of February 27, 2021 and February 27, 2021 43981 Flocks, net of amortization $ 115,904 $ 110,198 Eggs and egg products 18,069 18,487 Feed and supplies 73,766 58,531 $ 207,739 $ 187,216 We breeders (male and female chickens used to produce fertile eggs 27, 2021 consisted of approximately 9.6 41.3

Accrued Dividends Payable and D

Accrued Dividends Payable and Dividends per Common Share	9 Months Ended
	Feb. 27, 2021
Accrued Dividends Payable and Dividends per Common Share [Abstract]
Accrued Dividends Payable and Dividends Per Common Share	Note 5 - Accrued Dividends Payable and Dividends per Common We The Company quarter for in an amount following the to shareholders of record on the 65th day after the Following a quarter for which the Company does not report net income not pay a dividend date approximately 0.034 recorded in Accounts payable and accrued expenses in the Company’s On computation in the following table (in thousands, except per share data): Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 29, 2020 February 27, 2021 February 29, 2020 Net income (loss) attributable to Cal-Maine Foods, Inc. $ 13,548 $ 13,749 $ 6,304 $ (42,072) Cumulative losses to be recovered prior to payment of divided at beginning of period (8,614) (75,582) (1,370) (19,761) Net income attributable to Cal-Maine Foods, Inc. available for dividend $ 4,934 $ — $ 4,934 $ — 1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend 1,645 Common stock outstanding (shares) 44,056 Class A common stock outstanding (shares) 4,800 Total common stock 48,856 Dividends per common share* $ 0.034 * Dividends per common share outstanding (shares).

Equity

Equity	9 Months Ended
	Feb. 27, 2021
Equity [Abstract]
Equity	Note 6 - Equity The following reflects the equity activity, (in thousands): Thirty-nine Weeks Ended February 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 1 — — — — — 422 422 Balance at May 31, 2020 703 48 (26,674) 60,372 79 975,569 1,010,097 Other comprehensive loss, net of tax — — — — (214) — (214) Restricted stock forfeitures — — (4) 4 — — — Purchase of company stock — — (871) — — — (871) Restricted stock compensation — — — 2,789 — — 2,789 Contributions — — — 5 — — 5 Dividends — — — — — (1,661) (1,661) Net income — — — — — 6,304 6,304 Balance at February 27, 2021 $ 703 $ 48 $ (27,549) $ 63,170 $ (135) $ 980,212 $ 1,016,449 Thirty-nine Weeks Ended February 29, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Income Earnings Interest Total Balance at June 01, 2019 $ 703 $ 48 $ (25,866) $ 56,857 $ 355 $ 954,527 $ 3,182 $ 989,806 Other comprehensive loss, net of tax — — — — (653) — — (653) Restricted stock forfeitures — — 102 (102) — — — — Purchase of company stock — — (910) — — — — (910) 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 — — — 2,680 — — — 2,680 Net loss — — — — — (42,072) (64) (42,136) Balance at February 29, 2020 $ 703 $ 48 $ (26,674) $ 59,435 $ (298) $ 914,234 $ 584 $ 948,032 Thirteen Weeks Ended February 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 November 28, 2020 $ 703 $ 48 $ (26,723) $ 62,206 $ 151 $ 968,325 $ 1,004,710 Other comprehensive loss, net of tax — — — — (286) — (286) Purchase of company stock — — (826) — — — (826) Restricted stock compensation — — — 964 — — 964 Dividends — — — — — (1,661) (1,661) Net income — — — — — 13,548 13,548 Balance at February 27, 2021 $ 703 $ 48 $ (27,549) $ 63,170 $ (135) $ 980,212 $ 1,016,449 Thirteen Weeks Ended February 29, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Income Earnings Interest Total Balance at November 30, 2019 $ 703 $ 48 $ (25,888) $ 58,652 $ (269) $ 900,485 $ 562 $ 934,293 Other comprehensive loss, net of tax — — — — (29) — — (29) Restricted stock forfeitures — — 103 (103) — — — — Purchase of company stock — — (889) — — — — (889) Restricted stock compensation — — — 886 — — — 886 Net income — — — — — 13,749 22 13,771 Balance at February 29, 2020 $ 703 $ 48 $ (26,674) $ 59,435 $ (298) $ 914,234 $ 584 $ 948,032

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	9 Months Ended
	Feb. 27, 2021
Net Income (Loss) per Common Share [Abstract]
Net Income (Loss) per Common Share	Note 7 - Net Income (Loss) per Common Share Basic net Class A Common average Restricted 121 These shares were not included in the diluted net loss per share calculation. The income per common share attributable to Cal-Maine Foods, Inc. Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 29, 2020 February 27, 2021 February 29, 2020 Numerator Net income (loss) $ 13,548 $ 13,771 $ 6,304 $ (42,136) Less: Income (loss) attributable to noncontrolling interest — 22 — (64) Net income (loss) attributable to Cal- Maine Foods, Inc. $ 13,548 $ 13,749 $ 6,304 $ (42,072) Denominator Weighted-average outstanding, basic 48,530 48,473 48,511 48,455 Effect of dilutive restricted shares 129 115 138 — Weighted-average outstanding, diluted 48,659 48,588 48,649 48,455 Net income (loss) per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.28 $ 0.28 $ 0.13 $ (0.87) Diluted $ 0.28 $ 0.28 $ 0.13 $ (0.87)

Revenue Recognition

Revenue Recognition	9 Months Ended
	Feb. 27, 2021
Revenue Recognition [Abstract]
Revenue Recognition	Note 8 - Revenue Recognition Satisfaction of Performance Obligation The vast for products. establishes the contract for that order. Revenues are shell eggs our costs upon satisfaction customer agreeing upon the order. Returns and Refunds Some of our contracts customer is unable to data and corresponding reduction in trade accounts receivable. Sales Incentives Provided to Customers The discount offers a minimum reduction reduction to sales price based on estimated future redemption rates. Disaggregation of Revenue The following table provides revenue disaggregated by product category Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 29, 2020 February 27, 2021 February 29, 2020 Conventional shell egg sales $ 203,189 $ 210,329 $ 560,297 $ 518,898 Specialty shell egg sales 145,210 125,019 408,537 352,118 Egg products 9,098 9,212 25,736 24,210 Other 1,583 1,028 4,619 3,050 $ 359,080 $ 345,588 $ 999,189 $ 898,276 Contract Costs The Company can one year; therefore, they are expensed as incurred. Contract Balances The Company There are financial statements.

Leases

Leases	9 Months Ended
	Feb. 27, 2021
Leases [Abstract]
Leases	Note 9 - Leases Expenses related in Cost of sales, Selling general and administrative expense, and Interest of Operations. The Company’s lease cost 13 Weeks Ended 39 Weeks Ended Operating Lease cost $ 233 $ 703 Finance Lease cost Amortization of right-of-use asset $ 44 $ 125 Interest on lease obligations $ 9 $ 27 Short term lease cost $ 857 $ 2,714 Future minimum lease payments under non-cancelable leases are as follows (in As of February 27, 2021 Operating Leases Finance Leases Remainder fiscal 2021 $ 224 $ 68 2022 802 239 2023 539 239 2024 380 218 2025 130 — 2026 26 — Thereafter 5 — Total 2,106 764 Less imputed interest (185) (60) Total $ 1,921 $ 704 The Balance Sheet are as follows: As of February 27, 2021 Operating Leases Finance Leases Weighted-average 3.0 2.8 Weighted-average 5.9 % 4.9 %

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Feb. 27, 2021
Stock Based Compensation [Abstract]
Stock Based Compensation	Note 10 - Stock Based Compensation On Incentive individuals available 2,000,000 , 1,128,488 authorized but member of the Company’s our subsidiaries (except for incentive stock options, which may be granted The only grant contains no other service or performance right of the period date closing price and is amortized over the vesting period. Total 2.8 2.7 and February 29, 2020, respectively. Unrecognized Long-Term 7.5 2.3 Refer 2020 Annual compensation plans. The Company’s restricted share activity Number of Shares Weighted Average Grant Date Fair Value Outstanding, May 30, 2020 273,046 $ 41.36 Granted 110,560 37.71 Vested (79,328) 43.96 Forfeited (4,431) 40.12 Outstanding, February 27, 2021 299,847 $ 39.35

Income Taxes

Income Taxes	9 Months Ended
	Feb. 27, 2021
Income Taxes [Abstract]
Income Taxes	Note 11 – Income Taxes The differences the statutory federal income tax rate for the thirteen and thirty-nine Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 27, 2021 Statutory federal income tax $ 2,907 $ 543 Enacted net operating loss carryback provision (6,422) (6,422) Domestic manufacturers deduction 1,408 1,408 Other, net 391 391 $ (1,716) $ (4,080) On March Act economic accounting 2018 through 2020, our fiscal years 2019 through 2021. Our financial Act. for the statutory 21 % 35 %. difference 6.4 the thirteen reduced our taxable income using 1.4 discrete income tax expense during the thirteen weeks ended February 27,

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Feb. 27, 2021
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 12 - Commitments and Contingencies Financial Instruments The Company maintained 4.1 the Company's Revolving Credit Facility. recorded as a liability on the consolidated balance sheets. LEGAL PROCEEDINGS State of Texas On April of Court of violation (“DTPA”). COVID-19 permanent $ 100,000 prejudice. On September First District. The 8, 2021. Bell et al. v. Cal-Maine Foods et al. On 1:20-cv-461, producers, and farms. Plaintiffs assert that defendants for eggs Plaintiffs seek to enjoin eggs prior 10,000 250,000 each violation impacting anyone over motion Management believes the risk of material loss related to this matter to be remote. Kraft Foods Global, Inc. et al. v. As previously cases involving plaintiffs who sought substantial remaining plaintiffs The Kellogg Company. On September the MDL No. 2002, to Egg defendants illegally to raise the prices that plaintiffs certain features of producers. The and seek treble money damages. The parties filed a joint status the court. It appears that the case will not be tried until later in 2021 or 2022. In addition, dismissing condition or results not yet entered a judgment on the filing. The Company intends to on resolution of management Products Plaintiffs, due to a range of remand; factual issues money damages). State of Oklahoma Watershed Pollution On June against Cal-Maine Foods, Inc. and Inc. and chicken The complaint court. Foods, remediation. Since Foods, LLC, LLC is not a defendant in the litigation. The trial in the case has not yet issued its ruling. Management believes the risk of material loss related Other Matters In addition to outcome of the final outcome should not have a material effect on the Company’s

Related Party Transaction

Related Party Transaction	9 Months Ended
	Feb. 27, 2021
Related Party Transactions [Abstract]
Related Party Transaction	Note 13 - Related Party Transaction On Adams, beneficiaries 6,900,000 Common Stock held by them, pursuant to a previously as an exhibit to our 2020 Annual Report. Mrs. Adams and the offering including the Prospectus each of Common capital legal $ 1,102,000 . Pursuant to the Agreement, the Selling Stockholders reimbursed the Company 551,000 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Feb. 27, 2021
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The "we," Therefore, they United Report adjustments that are, in and, periods are not necessarily indicative of operating results for the entire fiscal
Fiscal Year	Fiscal Year The Company's ended on February 27, 2021 and February 29, 2020 included 13 weeks
Use of Estimates	Use of Estimates The preparation of the assumptions could differ from those estimates. The severity, changing periods in response to COVID-19.
Investment Securities	Investment Securities Our investment 320”). restrictions current, because the with unrealized changes to losses through allowance basis for realized gains and losses Operations. Sheets.
Trade Receivables	Trade Receivables Trade 30, 728 744 customers based on The limits, monitoring assigned factors.
Change in Accounting Principle	Change in Accounting Principle Effective intended instruments held by financial institutions and other organizations. an “expected based guidance on the period of risk “expected guidance and recorded a $ 422

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Feb. 27, 2021
Investments Securities [Abstract]
Schedule of Investment Securities	February 27, 2021 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,157 $ 52 $ — $ 16,209 Commercial paper 6,345 — — 6,345 Corporate bonds 92,256 1,062 — 93,318 Certificates of deposits 2,084 — 7 2,077 Asset backed securities 9,823 — 1 9,822 Total current $ 126,665 $ 1,114 $ 8 $ 127,771 Mutual funds $ 2,293 $ 1,424 $ — $ 3,717 Total noncurrent $ 2,293 $ 1,424 $ — $ 3,717 43981 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 $ 152,773 $ 1,390 $ — $ 154,163 Mutual funds $ 2,005 $ 744 $ — $ 2,749 Total noncurrent $ 2,005 $ 744 $ — $ 2,749
Schedule of Contractual Maturities of Investment Securities	Estimated Fair Value Within one year $ 44,862 1-5 years 82,909 Total $ 127,771

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Feb. 27, 2021
Fair Value Measurements [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	February 27, 2021 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,209 $ — $ 16,209 Commercial paper — 6,345 — 6,345 Corporate bonds — 93,318 — 93,318 Certificates of deposits — 2,077 — 2,077 Asset backed securities — 9,822 — 9,822 Mutual funds 3,717 — — 3,717 Total assets measured at fair $ 3,717 $ 127,771 $ — $ 131,488 43981 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 $ 2,749 $ 154,163 $ — $ 156,912

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Feb. 27, 2021
Inventories [Abstract]
Schedule of Inventories	February 27, 2021 43981 Flocks, net of amortization $ 115,904 $ 110,198 Eggs and egg products 18,069 18,487 Feed and supplies 73,766 58,531 $ 207,739 $ 187,216

Accrued Dividends Payable and_2

Accrued Dividends Payable and Dividends per Common Share (Tables)	9 Months Ended
	Feb. 27, 2021
Accrued Dividends Payable and Dividends per Common Share [Abstract]
Schedule of Dividends	Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 29, 2020 February 27, 2021 February 29, 2020 Net income (loss) attributable to Cal-Maine Foods, Inc. $ 13,548 $ 13,749 $ 6,304 $ (42,072) Cumulative losses to be recovered prior to payment of divided at beginning of period (8,614) (75,582) (1,370) (19,761) Net income attributable to Cal-Maine Foods, Inc. available for dividend $ 4,934 $ — $ 4,934 $ — 1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend 1,645 Common stock outstanding (shares) 44,056 Class A common stock outstanding (shares) 4,800 Total common stock 48,856 Dividends per common share* $ 0.034

Equity (Tables)

Equity (Tables)	9 Months Ended
	Feb. 27, 2021
Equity [Abstract]
Schedule of Statement of Stockholders' Equity Activities, Including Noncontrolling Interest	Thirteen Weeks Ended February 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 November 28, 2020 $ 703 $ 48 $ (26,723) $ 62,206 $ 151 $ 968,325 $ 1,004,710 Other comprehensive loss, net of tax — — — — (286) — (286) Purchase of company stock — — (826) — — — (826) Restricted stock compensation — — — 964 — — 964 Dividends — — — — — (1,661) (1,661) Net income — — — — — 13,548 13,548 Balance at February 27, 2021 $ 703 $ 48 $ (27,549) $ 63,170 $ (135) $ 980,212 $ 1,016,449 Thirty-nine Weeks Ended February 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 1 — — — — — 422 422 Balance at May 31, 2020 703 48 (26,674) 60,372 79 975,569 1,010,097 Other comprehensive loss, net of tax — — — — (214) — (214) Restricted stock forfeitures — — (4) 4 — — — Purchase of company stock — — (871) — — — (871) Restricted stock compensation — — — 2,789 — — 2,789 Contributions — — — 5 — — 5 Dividends — — — — — (1,661) (1,661) Net income — — — — — 6,304 6,304 Balance at February 27, 2021 $ 703 $ 48 $ (27,549) $ 63,170 $ (135) $ 980,212 $ 1,016,449 Thirteen Weeks Ended February 29, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Income Earnings Interest Total Balance at November 30, 2019 $ 703 $ 48 $ (25,888) $ 58,652 $ (269) $ 900,485 $ 562 $ 934,293 Other comprehensive loss, net of tax — — — — (29) — — (29) Restricted stock forfeitures — — 103 (103) — — — — Purchase of company stock — — (889) — — — — (889) Restricted stock compensation — — — 886 — — — 886 Net income — — — — — 13,749 22 13,771 Balance at February 29, 2020 $ 703 $ 48 $ (26,674) $ 59,435 $ (298) $ 914,234 $ 584 $ 948,032 Thirty-nine Weeks Ended February 29, 2020 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Income Earnings Interest Total Balance at June 01, 2019 $ 703 $ 48 $ (25,866) $ 56,857 $ 355 $ 954,527 $ 3,182 $ 989,806 Other comprehensive loss, net of tax — — — — (653) — — (653) Restricted stock forfeitures — — 102 (102) — — — — Purchase of company stock — — (910) — — — — (910) 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 — — — 2,680 — — — 2,680 Net loss — — — — — (42,072) (64) (42,136) Balance at February 29, 2020 $ 703 $ 48 $ (26,674) $ 59,435 $ (298) $ 914,234 $ 584 $ 948,032

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	9 Months Ended
	Feb. 27, 2021
Net Income (Loss) per Common Share [Abstract]
Computation of Basic and Diluted Net Income Per Share Attributable to the Company	Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 29, 2020 February 27, 2021 February 29, 2020 Numerator Net income (loss) $ 13,548 $ 13,771 $ 6,304 $ (42,136) Less: Income (loss) attributable to noncontrolling interest — 22 — (64) Net income (loss) attributable to Cal- Maine Foods, Inc. $ 13,548 $ 13,749 $ 6,304 $ (42,072) Denominator Weighted-average outstanding, basic 48,530 48,473 48,511 48,455 Effect of dilutive restricted shares 129 115 138 — Weighted-average outstanding, diluted 48,659 48,588 48,649 48,455 Net income (loss) per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.28 $ 0.28 $ 0.13 $ (0.87) Diluted $ 0.28 $ 0.28 $ 0.13 $ (0.87)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Feb. 27, 2021
Revenue Recognition [Abstract]
Disaggregation of Revenue	Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 29, 2020 February 27, 2021 February 29, 2020 Conventional shell egg sales $ 203,189 $ 210,329 $ 560,297 $ 518,898 Specialty shell egg sales 145,210 125,019 408,537 352,118 Egg products 9,098 9,212 25,736 24,210 Other 1,583 1,028 4,619 3,050 $ 359,080 $ 345,588 $ 999,189 $ 898,276

Leases (Tables)

Leases (Tables)	9 Months Ended
	Feb. 27, 2021
Leases [Abstract]
Schedule of Lease Cost	13 Weeks Ended 39 Weeks Ended Operating Lease cost $ 233 $ 703 Finance Lease cost Amortization of right-of-use asset $ 44 $ 125 Interest on lease obligations $ 9 $ 27 Short term lease cost $ 857 $ 2,714
Schedule of Future Minimum Lease Payments	As of February 27, 2021 Operating Leases Finance Leases Remainder fiscal 2021 $ 224 $ 68 2022 802 239 2023 539 239 2024 380 218 2025 130 — 2026 26 — Thereafter 5 — Total 2,106 764 Less imputed interest (185) (60) Total $ 1,921 $ 704
Schedule of Weighted-Average Information	As of February 27, 2021 Operating Leases Finance Leases Weighted-average 3.0 2.8 Weighted-average 5.9 % 4.9 %

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Feb. 27, 2021
Stock Based Compensation [Abstract]
Summary of Restricted Share Activity	Number of Shares Weighted Average Grant Date Fair Value Outstanding, May 30, 2020 273,046 $ 41.36 Granted 110,560 37.71 Vested (79,328) 43.96 Forfeited (4,431) 40.12 Outstanding, February 27, 2021 299,847 $ 39.35

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Feb. 27, 2021
Income Taxes [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation	Thirteen Weeks Thirty-nine Weeks February 27, 2021 February 27, 2021 Statutory federal income tax $ 2,907 $ 543 Enacted net operating loss carryback provision (6,422) (6,422) Domestic manufacturers deduction 1,408 1,408 Other, net 391 391 $ (1,716) $ (4,080)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Nov. 28, 2020	May 30, 2020	Feb. 29, 2020	Nov. 30, 2019	Jun. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for doubtful accounts	$ 728		$ 744
Stockholders' equity	1,016,449	$ 1,004,710	1,009,675	$ 948,032	$ 934,293	$ 989,806
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity	$ 980,212	$ 968,325	975,147	$ 914,234	$ 900,485	$ 954,527
Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity			422
Adjustment [Member] | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity			$ 422

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($)	9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	May 30, 2020
Noncurrent Assets [Member]
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]
Proceeds from sale of available-for-sale securities	85,200,000	181,500,000
Gross realized gains on sales of available-for-sale securities	116,000	246,000
Gross realized losses on sales of available-for-sale securities	17,000	$ 7,000
Accounts receivable, allowance for credit loss	$ 0		$ 0

Investment Securities (Schedule

Investment Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	May 30, 2020
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	$ 131,488	$ 156,912
Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	126,665	152,773
Unrealized Gains	1,114	1,390
Unrealized Losses	8	0
Estimated Fair Value	127,771	154,163
Noncurrent Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,293	2,005
Unrealized Gains	1,424	744
Unrealized Losses	0	0
Estimated Fair Value	3,717	2,749
Municipal Bonds [Member] | Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,157	16,093
Unrealized Gains	52	86
Unrealized Losses	0	0
Estimated Fair Value	16,209	16,179
Municipal Bonds [Member] | Noncurrent Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,293	2,005
Unrealized Gains	1,424	744
Unrealized Losses	0	0
Estimated Fair Value	3,717	2,749
Commercial Paper [Member] | Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,345	6,965
Unrealized Gains	0	17
Unrealized Losses	0	0
Estimated Fair Value	6,345	6,982
Corporate Bonds [Member] | Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	92,256	125,594
Unrealized Gains	1,062	1,274
Unrealized Losses	0	0
Estimated Fair Value	93,318	126,868
Certificates Of Deposits [Member] | Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,084	1,492
Unrealized Gains	0	0
Unrealized Losses	7	0
Estimated Fair Value	2,077	1,492
Asset-backed Securities [Member] | Current Assets [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,823	2,629
Unrealized Gains	0	13
Unrealized Losses	1	0
Estimated Fair Value	$ 9,822	$ 2,642

Investment Securities (Schedu_2

Investment Securities (Schedule of Contractual Maturities of Investment Securities) (Details) $ in Thousands	Feb. 27, 2021USD ($)
Investments Securities [Abstract]
Within one year	$ 44,862
1-5 years	82,909
Total	$ 127,771

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	May 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	$ 131,488	$ 156,912
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,717	2,749
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	127,771	154,163
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	16,209	16,179
Municipal Bonds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Municipal Bonds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	16,209	16,179
Municipal Bonds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	6,345	6,982
Commercial Paper [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Commercial Paper [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	6,345	6,982
Commercial Paper [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	93,318	126,868
Corporate Bonds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Corporate Bonds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	93,318	126,868
Corporate Bonds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Certificates Of Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	2,077	1,492
Certificates Of Deposits [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Certificates Of Deposits [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	2,077	1,492
Certificates Of Deposits [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	9,822	2,642
Asset-backed Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Asset-backed Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	9,822	2,642
Asset-backed Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,717	2,749
Mutual Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	3,717	2,749
Mutual Funds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	0	0
Mutual Funds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities	$ 0	$ 0

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) Pellets in Millions, Layers in Millions	Feb. 27, 2021LayersPellets
Inventories [Abstract]
Pullets and breeders | Pellets	9.6
Layer | Layers	41.3

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	May 30, 2020
Inventories [Abstract]
Flocks, net of amortization	$ 115,904	$ 110,198
Eggs and egg products	18,069	18,487
Feed and supplies	73,766	58,531
Total inventories	$ 207,739	$ 187,216

Accrued Dividends Payable and_3

Accrued Dividends Payable and Dividends per Common Share (Narrative) (Details)	3 Months Ended
	Feb. 27, 2021$ / shares
Accrued Dividends Payable and Dividends per Common Share [Abstract]
Dividends per common share	$ 0.034	[1]
[1]	Dividends per common share outstanding (shares).

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		9 Months Ended
		Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Class of Stock [Line Items]
Net income (loss) attributable to Cal-Maine Foods, Inc.		$ 13,548	$ 13,749	$ 6,304	$ (42,072)
Cumulative losses to be recovered prior to payment of divided at beginning of period		(8,614)	(75,582)	(1,370)	(19,761)
Net income attributable to Cal-Maine Foods, Inc. available for dividend		4,934	$ 0	$ 4,934	$ 0
1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend		$ 1,645
Stock outstanding (shares)		48,856		48,856
Dividends per common share	[1]	$ 0.034
Common Stock [Member]
Class of Stock [Line Items]
Stock outstanding (shares)		44,056		44,056
Class A Common Stock [Member]
Class of Stock [Line Items]
Stock outstanding (shares)		4,800		4,800
[1]	Dividends per common share outstanding (shares).

Equity (Schedule of Statement o

Equity (Schedule of Statement of Stockholders' Equity Activities, Including Noncontrolling Interest) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Schedule of Stockholders Equity [Line Items]
Beginning balance	$ 1,004,710	$ 934,293	$ 1,009,675	$ 989,806
Other comprehensive income (loss), net of tax	(286)	(29)	(214)	(653)
Purchase of company stock	(826)	(889)	(871)	(910)
Distributions to noncontrolling interest partners				(755)
Restricted stock compensation	964	886	2,789	2,680
Contributions			5
Dividends	(1,661)		(1,661)
Net income (loss)	13,548	13,771	6,304	(42,136)
Ending balance	1,016,449	948,032	1,016,449	948,032
Adjustment [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			422
Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			1,010,097
Treasury Stock [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	(26,723)	(25,888)	(26,674)	(25,866)
Restricted stock forfeitures		103	(4)	102
Purchase of company stock	(826)	(889)	(871)	(910)
Ending balance	(27,549)	(26,674)	(27,549)	(26,674)
Treasury Stock [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			(26,674)
Paid In Capital [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	62,206	58,652	60,372	56,857
Restricted stock forfeitures		(103)	4	(102)
Restricted stock compensation	964	886	2,789	2,680
Contributions			5
Ending balance	63,170	59,435	63,170	59,435
Paid In Capital [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			60,372
Accumulated Other Comprehensive Loss [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	151	(269)	79	355
Other comprehensive income (loss), net of tax	(286)	(29)	(214)	(653)
Ending balance	(135)	(298)	(135)	(298)
Accumulated Other Comprehensive Loss [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			79
Retained Earnings [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	968,325	900,485	975,147	954,527
Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition				1,779
Dividends	(1,661)		(1,661)
Net income (loss)	13,548	13,749	6,304	(42,072)
Ending balance	980,212	914,234	980,212	914,234
Retained Earnings [Member] | Adjustment [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			422
Retained Earnings [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			975,569
Noncontrolling Interests [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance		562		3,182
Distributions to noncontrolling interest partners				(755)
Reclass of equity portion of Texas Egg Products, LLC in connection with acquisition				(1,779)
Net income (loss)		22		(64)
Ending balance		584		584
Common Stock [Member] | Common Stock [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	703	703	703	703
Ending balance	703	703	703	703
Common Stock [Member] | Common Stock [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			703
Class A Common Stock [Member] | Common Stock [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	48	48	48	48
Ending balance	$ 48	$ 48	48	$ 48
Class A Common Stock [Member] | Common Stock [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance			$ 48

Net Income (Loss) per Common _3

Net Income (Loss) per Common Share (Narrative) (Details) shares in Thousands	9 Months Ended
	Feb. 27, 2021shares
Net Income (Loss) per Common Share [Abstract]
Antidilutive restricted shares	121

Net Income (Loss) per Common _4

Net Income (Loss) per Common Share (Computation of Basic and Diluted Net Income Per Share Attributable to the Company) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	$ 13,548	$ 13,771	$ 6,304	$ (42,136)
Less: Income (loss) attributable to noncontrolling interest	0	22	0	(64)
Net income (loss) attributable to Cal-Maine Foods, Inc.	$ 13,548	$ 13,749	$ 6,304	$ (42,072)
Weighted-average common shares outstanding, basic	48,530	48,473	48,511	48,455
Effect of dilutive restricted shares	129	115	138	0
Weighted-average common shares outstanding, diluted	48,659	48,588	48,649	48,455
Net income (loss) per common share attributable to Cal-Maine Foods, Inc.
Basic (in dollars per share)	$ 0.28	$ 0.28	$ 0.13	$ (0.87)
Diluted (in dollars per share)	$ 0.28	$ 0.28	$ 0.13	$ (0.87)

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 359,080	$ 345,588	$ 999,189	$ 898,276
Conventional Shell Egg Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues	203,189	210,329	560,297	518,898
Specialty Shell Egg Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues	145,210	125,019	408,537	352,118
Egg Products [Member]
Disaggregation of Revenue [Line Items]
Revenues	9,098	9,212	25,736	24,210
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 1,583	$ 1,028	$ 4,619	$ 3,050

Leases (Schedule of Lease Cost)

Leases (Schedule of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Feb. 27, 2021	Feb. 27, 2021
Leases [Abstract]
Operating Lease cost	$ 233	$ 703
Finance Lease cost
Amortization of right-of-use asset	44	125
Interest on lease obligations	9	27
Short term lease cost	$ 857	$ 2,714

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Lease Payments) (Details) $ in Thousands	Feb. 27, 2021USD ($)
Operating Leases
Remainder fiscal 2021	$ 224
2022	802
2023	539
2024	380
2025	130
2026	26
Thereafter	5
Total	2,106
Less imputed interest	(185)
Total	1,921
Finance Leases
Remainder fiscal 2021	68
2022	239
2023	239
2024	218
2025	0
2026	0
Thereafter	0
Total	764
Less imputed interest	(60)
Total	$ 704

Leases (Schedule of Future Mi_2

Leases (Schedule of Future Minimum Lease Payments - Section 2) (Details) $ in Thousands	Feb. 27, 2021USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, to be Paid	$ 2,106
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	185
Operating Lease, Liability	1,921
Finance Lease, Liability, Payment, Due	764
Finance Lease, Liability, Undiscounted Excess Amount	60
Finance Lease, Liability	$ 704

Leases (Schedule of Weighted-Av

Leases (Schedule of Weighted-Average Information) (Details)	Feb. 27, 2021
Operating Leases
Weighted-average remaining lease term (years)	3 years
Weighted-average discount rate	5.90%
Finance Leases
Weighted-average remaining lease term (years)	2 years 9 months 18 days
Weighted-average discount rate	4.90%

Stock Based Compensation (Summa

Stock Based Compensation (Summary of Restricted Share Activity) (Details) shares in Thousands	9 Months Ended
	Feb. 27, 2021$ / sharesshares
Number of Shares
Number of Shares, Outstanding, Beginning Balance (in shares) | shares	273,046
Number of Shares, Granted (in shares) | shares	110,560
Number of Shares, Vested (in shares) | shares	(79,328)
Number of Shares, Forfeited (in shares) | shares	(4,431)
Number of Shares, Outstanding, Ending Balance (in shares) | shares	299,847
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	37.71
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	43.96
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	$ 39.35

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Oct. 02, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized			2,000,000
Number of shares available for issuance			1,128,488
Stock based compensation expense (benefit)	$ 2.8	$ 2.7
Unrecognized compensation cost	$ 7.5
Weighted average period of unrecognized compensation expense (in years)	2 years 3 months 18 days

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Feb. 27, 2021	Dec. 31, 2017
Income Taxes [Abstract]
Statutory income tax rate	21.00%	35.00%
Discrete income tax benefit, due to difference in statutory tax rates	$ 6.4
Partially offsetting discrete income tax expense, related to net operating losses	$ 1.4

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Feb. 27, 2021	Feb. 29, 2020
Income Taxes [Abstract]
Statutory federal income tax	$ 2,907		$ 543
Enacted net operating loss carryback provision	(6,422)		(6,422)
Domestic manufacturers deduction	1,408		1,408
Other, net	391		391
Income tax expense	$ (1,716)	$ 4,278	$ (4,080)	$ (15,356)

Commitment and Contingencies (N

Commitment and Contingencies (Narrative) (Details) - USD ($)	Apr. 30, 2020	Apr. 23, 2020	Feb. 27, 2021
Loss Contingencies [Line Items]
Standby letters of credit			$ 4,100,000
State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Loss contingency, damages sought		$ 100,000
Bell et al. v. Cal-Maine Foods et al. [Member] | Pending Litigation [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 10,000
Bell et al. v. Cal-Maine Foods et al. [Member] | Pending Litigation [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Loss contingency, damages sought	$ 250,000

Related Party Transaction (Narr

Related Party Transaction (Narrative) (Details) - Immediate Family Member of Management or Principal Owner [Member]	Aug. 24, 2020USD ($)shares
Related Party Transaction [Line Items]
Secondary Public Offering | shares	6,900,000
Amount payable to the Selling Stockholders	$ 1,102,000
Amount reimbursable by the Selling Stockholders	$ 551,000,000