Cal-Maine Foods (CALM) 10-Q 29 Mar 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Feb. 26, 2022	Mar. 29, 2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 26, 2022
Document Transition Report	false
Entity File Number	001-38695
Entity Registrant Name	CAL-MAINE FOODS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	64-0500378
Entity Address, Address Line One	1052 Highland Colony Pkwy
Entity Address Address Line 2	Suite 200
Entity Address, City or Town	Ridgeland
Entity Address, State or Province	MS
Entity Address, Postal Zip Code	39157
City Area Code	601
Local Phone Number	948-6813
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
Current Fiscal Year End Date	--05-28
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000016160
Common Stock [Member]
Entity Common Stock, Shares Outstanding		44,140,283
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		4,800,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 26, 2022	May 29, 2021
Current assets:
Cash and cash equivalents	$ 15,589	$ 57,352
Investment securities available-for-sale	81,125	112,158
Trade and other receivables, net	138,654	84,123
Income taxes receivable	41,383	42,516
Inventories	240,087	218,375
Prepaid expenses and other current assets	5,872	5,407
Total current assets	522,710	519,931
Property, plant & equipment, net	671,373	589,417
Finance lease right-of-use asset, net	409	525
Operating lease right-of-use asset, net	1,168	1,724
Investments in unconsolidated entities	15,794	54,941
Goodwill	44,006	35,525
Intangible assets, net	18,686	20,341
Other long-term assets	7,849	6,770
Total assets	1,281,995	1,229,174
Current liabilities:
Accounts payable and accrued expenses	120,665	89,191
Current portion of finance lease obligation	222	215
Current portion of operating lease obligation	486	691
Total current liabilities	121,373	90,097
Long-term finance lease obligation	271	438
Long-term operating lease obligation	682	1,034
Other noncurrent liabilities	10,673	10,416
Deferred income taxes, net	118,753	114,408
Total liabilities	251,752	216,393
Stockholders' equity:
Paid-in capital	66,909	64,044
Retained earnings	992,523	975,977
Accumulated other comprehensive loss, net of tax	(1,413)	(558)
Common stock in treasury at cost - 26,121 shares at February 26, 2022 and 26,202 shares at May 29, 2021	(28,439)	(27,433)
Total Cal-Maine Foods, Inc. stockholders' equity	1,030,331	1,012,781
Noncontrolling interest in consolidated entity	(88)	0
Total stockholders' equity	1,030,243	1,012,781
Total Liabilities and Stockholders' Equity	1,281,995	1,229,174
Common Stock [Member]
Stockholders' equity:
Common stock	703	703
Class A Convertible Common Stock [Member]
Stockholders' equity:
Common stock	$ 48	$ 48

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 26, 2022	May 29, 2021
Common Stock [Member]
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	70,261,000	70,261,000
Common stock in treasury (in shares)	26,121,000	26,202,000
Class A Convertible Common Stock [Member]
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	4,800,000	4,800,000
Common stock, shares issued (in shares)	4,800,000	4,800,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021
Condensed Consolidated Statements of Income [Abstract]
Net sales	$ 477,485	$ 359,080	$ 1,184,195	$ 999,189
Cost of sales	385,903	311,563	1,042,221	876,457
Gross profit	91,582	47,517	141,974	122,732
Selling, general and administrative	52,686	47,656	146,991	135,494
(Gain) loss on disposal of fixed assets	(674)	354	(2,855)	476
Operating income (loss)	39,570	(493)	(2,162)	(13,238)
Other income (expense):
Interest income, net	79	591	440	2,181
Royalty income	326	321	877	906
Patronage dividends	10,120	9,004	10,120	9,004
Equity income of unconsolidated entities	1,809	1,872	2,208	1,886
Other, net	1,144	537	8,169	1,485
Total other income, net	13,478	12,325	21,814	15,462
Income before income taxes	53,048	11,832	19,652	2,224
Income tax expense (benefit)	13,594	(1,716)	(2,921)	(4,080)
Net income	39,454	13,548	22,573	6,304
Less: Loss attributable to noncontrolling interest	(63)	0	(91)	0
Net income attributable to Cal-Maine Foods, Inc.	$ 39,517	$ 13,548	$ 22,664	$ 6,304
Net income per common share:
Basic (in dollars per share)	$ 0.81	$ 0.28	$ 0.46	$ 0.13
Diluted (in dollars per share)	$ 0.81	$ 0.28	$ 0.46	$ 0.13
Weighted average shares outstanding:
Basic (in shares)	48,886	48,530	48,888	48,511
Diluted (in shares)	49,036	48,659	49,035	48,649

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 39,454	$ 13,548	$ 22,573	$ 6,304
Other comprehensive income (loss), before tax:
Unrealized holding loss on available-for-sale securities, net of reclassification adjustments	(551)	(378)	(1,130)	(283)
Income tax benefit related to items of other comprehensive income	134	92	275	69
Other comprehensive loss, net of tax	(417)	(286)	(855)	(214)
Comprehensive income	39,037	13,262	21,718	6,090
Less: Comprehensive loss attributable to the noncontrolling interest	(63)	0	(91)	0
Comprehensive income attributable to Cal-Maine Foods, Inc.	$ 39,100	$ 13,262	$ 21,809	$ 6,090

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021
Cash flows from operating activities:
Net income	$ 22,573	$ 6,304
Depreciation and amortization	50,996	44,391
Deferred income taxes	(3,861)	9,970
Other adjustments, net	(48,884)	(45,936)
Net cash provided by operations	20,824	14,729
Cash flows from investing activities:
Purchases of investment securities	(47,135)	(59,415)
Sales and maturities of investment securities	76,377	85,202
Investment in unconsolidated entities	(3,000)	0
Distributions from unconsolidated entities	400	5,813
Acquisition of business, net of cash acquired	(44,823)	0
Purchases of property, plant and equipment	(49,170)	(73,796)
Net proceeds from disposal of property, plant and equipment	6,041	3,273
Net cash used in investing activities	(61,310)	(38,923)
Cash flows from financing activities:
Purchase of common stock by treasury	(1,120)	(871)
Principal payments on finance lease	(160)	(153)
Contributions	3	5
Net cash used in financing activities	(1,277)	(1,019)
Net change in cash and cash equivalents	(41,763)	(25,213)
Cash and cash equivalents at beginning of period	57,352	78,130
Cash and cash equivalents at end of period	15,589	52,917
Supplemental information:
Cash paid for operating leases	625	703
Interest paid	$ 230	$ 193

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Feb. 26, 2022
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 do United Report adjustments that are, in the opinion of management, necessary to a fair and, periods are not necessarily indicative of operating results for the entire fiscal year. Fiscal Year The Company's ended on February 26, 2022 and February 27, 2021 included 13 weeks and 39 weeks, respectively . Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make assumptions that 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 periods in response to COVID-19. Investment Securities Our investment 320”). restrictions current, because the amounts invested are available for with unrealized changes to the losses through the cost Gains and losses are recognized in other income (expenses) as Other, net in the Company's Condensed Consolidated Statements of Income. Balance Sheets. Trade Receivables Trade 29, 725 795 customers based on an The monitoring historical loss information adjusted as needed for economic and other forward-looking factors. Business Combinations The acquisitions. These non-financial assets acquired is determined internally. Our internal valuation methodology for non-financial assets considers the remaining estimated life of the assets acquired and what management believes is the market value for those assets. Change in Accounting Principle Effective intended instruments held by financial institutions and other organizations. The guidance replaces the prior “incurred loss” approach with an “expected based guidance on the period of risk “expected guidance and recorded a $ 422 Immaterial Error Correction Effective 50 % LLC (“Red that corresponding other Statements of Income. The errors resulted in 6.7 of 9.2 no income (loss) or Net income (loss) per share. We ("SAB") No. 99 Materiality, and Misstatements condensed consolidated impact ended February 26, 2022. Accordingly, we have reflected the correction of the immaterial errors as a reduction of Net Sales and Cost of Sales in the accompanying Condensed Consolidated Statements of Income for the thirty-nine weeks ended February 26, 2022.

Acquisition

Acquisition	9 Months Ended
	Feb. 26, 2022
Acquisitions [Abstract]
Acquisitions	Note 2 – Acquisition Effective 50 % LLC (“Red River”), the Company. 1.7 laying located on approximately 400 The assumed recognized at the acquisition date: Cash consideration paid $ 48,500 Fair value of the Company's equity interest in Red River held before the business combination 48,500 $ 97,000 Recognized amounts of identifiable assets acquired and liabilities assumed Cash $ 3,677 Accounts receivable, net 1,980 Inventory 8,789 Property, plant and equipment 85,002 Liabilities assumed (2,448) Deferred income taxes (8,481) Total identifiable net assets 88,519 Goodwill 8,481 $ 97,000 Cash and fair value due to the short maturity of these instruments. Inventory consisted primarily value as management believes that their carrying value inventory were all valued based on market prices as of May 30, 2021. Property, the assets and subtracting any depreciation resulting from physical deterioration and/or functional or economic obsolescence. The Company 4.5 50 % equity held before the business combination. The gain was recorded in other income and expense under the heading “Other, net” in the Company’s $ 8.3 7.3 investment 954,000 non-taxable recorded 8.5 assumed. The recognition expected to be deductible for income tax purposes.

Investment Securities

Investment Securities	9 Months Ended
	Feb. 26, 2022
Investments Securities [Abstract]
Investment Securities	Note 3 - Investment Securities The following represents the Company’s investment securities as of February 26, 2022 and May 29, 2021 (in thousands): February 26, 2022 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 514 $ — $ 3 $ 511 Commercial paper 9,980 — 23 9,957 Corporate bonds 61,634 — 344 61,290 Certificates of deposits 1,268 — 12 1,256 Asset backed securities 8,205 — 94 8,111 Total current investment securities $ 81,601 $ — $ 476 $ 81,125 Mutual funds $ 2,967 $ — $ 53 $ 2,914 Total noncurrent investment securities $ 2,967 $ — $ 53 $ 2,914 May 29, 2021 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,424 $ 56 $ — $ 16,480 Commercial paper 1,998 — — 1,998 Corporate bonds 80,092 608 — 80,700 Certificates of deposits 1,077 — 1 1,076 Asset backed securities 11,914 — 10 11,904 Total current investment securities $ 111,505 $ 664 $ 11 $ 112,158 Mutual funds $ 2,306 $ 1,810 $ — $ 4,116 Total noncurrent investment securities $ 2,306 $ 1,810 $ — $ 4,116 Available-for-sale Proceeds from 76.4 85.2 thirty-nine weeks ended February ended February 26, 2022 and February 27, 2021 were $ 181 116 the thirty-nine weeks ended February 26, 2022 and February 27, 2021 were $ 67 17 were no Actual maturities may differ without penalties. Contractual maturities of current investments at February 26, 2022 are as follows (in thousands): Estimated Fair Value Within one year $ 52,391 1-5 years 28,734 Total $ 81,125 Noncurrent Proceeds 4.9 ended February 2.2 were no securities during the thirty-nine weeks ended February 27, 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Feb. 26, 2022
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 4 - Fair Value Measurements The Company hierarchy. The knowledgeable, and willing parties able to engage in the be paid settle the liability with the creditor. • Level 1 • Level 2 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 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: short maturity of these instruments. Lease obligations: Assets and Liabilities Measured at Fair Value In liabilities measured at fair value on a recurring basis as of February 26, 2022 and May 29, 2021 (in thousands): February 26, 2022 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 511 $ — $ 511 Commercial paper — 9,957 — 9,957 Corporate bonds — 61,290 — 61,290 Certificates of deposits — 1,256 — 1,256 Asset backed securities — 8,111 — 8,111 Mutual funds 2,914 — — 2,914 Total assets measured at fair value $ 2,914 $ 81,125 $ — $ 84,039 May 29, 2021 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,480 $ — $ 16,480 Commercial paper — 1,998 — 1,998 Corporate bonds — 80,700 — 80,700 Certificates of deposits — 1,076 — 1,076 Asset backed securities — 11,904 — 11,904 Mutual funds 4,116 — — 4,116 Total assets measured at fair value $ 4,116 $ 112,158 $ — $ 116,274 Investment securities when purchased. We Observable inputs for these securities are yields, credit risks, default rates, and volatility.

Inventories

Inventories	9 Months Ended
	Feb. 26, 2022
Inventories [Abstract]
Inventories	Note 5 - Inventories Inventories consisted of the following as of February 26, 2022 and May 29, 2021 (in thousands): February 26, 2022 May 29, 2021 Flocks, net of amortization $ 137,086 $ 123,860 Eggs and egg products 24,153 21,084 Feed and supplies 78,848 73,431 $ 240,087 $ 218,375 We breeders (male and female chickens used to produce fertile eggs to 26, 2022 consisted of approximately 9.4 42.7

Accrued Dividends Payable And D

Accrued Dividends Payable And Dividends per Common Share	9 Months Ended
	Feb. 26, 2022
Accrued Dividends Payable And Dividends Per Common Share [Abstract]
Accrued Dividends Payable And Dividends Per Common Share	Note 6 - Accrued Dividends Payable and Dividends per Common Share We The Company pays quarter for in an amount equal 1/3 ) of such quarterly following the last 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 date of the most of approximately $ 0.125 recorded in Accounts payable and accrued expenses in the Company’s Condensed Consolidated Balance Sheets. On computation in the following table (in thousands, except per share data): Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 27, 2021 February 26, 2022 February 27, 2021 Net income attributable to Cal-Maine Foods, Inc. $ 39,517 $ 13,548 $ 22,664 $ 6,304 Cumulative losses to be recovered prior to payment of divided at beginning of period (21,097) (8,614) (4,244) (1,370) Net income available for dividend $ 18,420 $ 4,934 $ 18,420 $ 4,934 1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend 6,140 1,645 6,140 1,645 Common stock outstanding (shares) 44,140 44,056 Class A common stock outstanding (shares) 4,800 4,800 Total common stock outstanding (shares) 48,940 48,856 Dividends per common share* $ 0.125 $ 0.034 $ 0.125 $ 0.034 *Dividends 1/3 outstanding (shares).

Credit Facility

Credit Facility	9 Months Ended
	Feb. 26, 2022
Credit Facility [Abstract]
Credit Facility	Note 7 – Credit Facility On November five - year 2018. “Revolver”), 250 15 issuance 15 accordion Credit Facility in 200 one or more times no the Credit Facility and $ 4.1 The Eurodollar Rate reserve adjusted rate one , two , three , six or twelve highest 0.50 % Agent, and (c) the Eurodollar Rate for an interest period of one 1 % per annum, subject to certain interest rate floors. The 0.00 % 0.75 % 1.00 % 1.75 % Eurodollar quarterly pricing date. from 0.15 % 0.25 % quarterly pricing date. The Credit Agreement contains customary provisions regarding replacement of the Eurodollar Rate. The Company (the “Guarantors”), and (including farm products) and deposit accounts maintained with the Administrative Agent. The Credit incurrence of additional requires maintenance of no greater than 50 %; and (ii) a requirement to maintain Minimum Tangible 700 50 % of net Additionally, the any trust, guardianship, partnership, similar limited liability company or other entity 100 % of the voting control of such foregoing, shall maintain at least 50 % of the Company's voting default under the terms of the Credit Agreement. Further, under the one-third payment of other dividends or dividend payments Company and its subsidiaries plus availability under the Credit Facility equals at least $ 50 The Credit default, including acceleration of the amounts Facility. At February 26, 2022, we were in compliance with the covenant requirements of the Credit Facility.

Equity

Equity	9 Months Ended
	Feb. 26, 2022
Equity [Abstract]
Equity	Note 8 - Equity The following reflects equity activity for the thousands): Thirteen Weeks Ended February 26, 2022 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 November 27, 2021 $ 703 $ 48 $ (27,450) $ 66,019 $ (996) $ 959,124 $ (25) $ 997,423 Other comprehensive loss, net of tax — — — — (417) — — (417) Stock compensation plan transactions — — (989) 890 — — — (99) Dividends — — — — — (6,118) — (6,118) Net income (loss) — — — — — 39,517 (63) 39,454 Balance at February 26, 2022 $ 703 $ 48 $ (28,439) $ 66,909 $ (1,413) $ 992,523 $ (88) $ 1,030,243 Thirty-nine Weeks Ended February 26, 2022 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 May 29, 2021 $ 703 $ 48 $ (27,433) $ 64,044 $ (558) $ 975,977 $ — $ 1,012,781 Other comprehensive loss, net of tax — — — — (855) — — (855) Stock compensation plan transactions — — (1,006) 2,865 — — — 1,859 Contributions — — — — — — 3 3 Dividends — — — — — (6,118) — (6,118) Net income (loss) — — — — — 22,664 (91) 22,573 Balance at February 26, 2022 $ 703 $ 48 $ (28,439) $ 66,909 $ (1,413) $ 992,523 $ (88) $ 1,030,243 Thirteen Weeks Ended February 27, 2021 Cal-Maine Foods, Inc. Stockholders Common Stock Accum. Class A Treasury Paid In Other Comp. Retained Amount Amount Amount Capital Income (Loss) 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) Stock compensation plan transactions — — (826) 964 — — 138 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 27, 2021 Cal-Maine Foods, Inc. Stockholders Common Stock Accum. Class A Treasury Paid In Other Comp. Retained Amount Amount Amount Capital Income (Loss) Earnings Total Balance at May 30, 2020 $ 703 $ 48 $ (26,674) $ 60,372 $ 79 $ 975,147 $ 1,009,675 Impact of ASC 326 — — — — — 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) Stock compensation plan transactions — — (875) 2,793 — — 1,918 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

Net Income per Common Share

Net Income per Common Share	9 Months Ended
	Feb. 26, 2022
Net Income per Common Share [Abstract]
Net Income per Common Share	Note 9 - Net Income per Common Share Basic net income per net dilutive effect of share-based awards. The income per common share (amounts in thousands, except per share data): Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 27, 2021 February 26, 2022 February 27, 2021 Numerator Net income $ 39,454 $ 13,548 $ 22,573 $ 6,304 Less: Loss attributable to noncontrolling interest (63) — (91) — Net income attributable to Cal-Maine Foods, Inc. $ 39,517 $ 13,548 $ 22,664 $ 6,304 Denominator Weighted-average common shares outstanding, basic 48,886 48,530 48,888 48,511 Effect of dilutive restricted shares 150 129 147 138 Weighted-average common shares outstanding, diluted 49,036 48,659 49,035 48,649 Net income per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.81 $ 0.28 $ 0.46 $ 0.13 Diluted $ 0.81 $ 0.28 $ 0.46 $ 0.13

Revenue Recognition

Revenue Recognition	9 Months Ended
	Feb. 26, 2022
Revenue Recognition [Abstract]
Revenue Recognition	Note 10 - Revenue Recognition Satisfaction of Performance Obligation Most of the Company’s Pricing for the contract for that order. Revenues are shell eggs our costs upon satisfaction of the customer agreeing upon the order. Returns and Refunds Some of our contracts include a guaranteed customer is unable to data and corresponding reduction in trade accounts receivable. Sales Incentives Provided to Customers The discount offers (e.g., a minimum reduction to reduction historical experience ‘‘Net sales.’’ Disaggregation of Revenue The following table provides revenue disaggregated by product category (in thousands): Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 27, 2021 February 26, 2022 February 27, 2021 Conventional shell egg sales $ 280,633 $ 203,189 $ 685,678 $ 560,297 Specialty shell egg sales 182,945 145,210 462,319 408,537 Egg products 12,749 9,098 33,516 25,736 Other 1,158 1,583 2,682 4,619 $ 477,485 $ 359,080 $ 1,184,195 $ 999,189 Contract Costs The Company can incur costs to obtain or fulfill a contract with a customer. one year, and is amortized for contract assets is immaterial. Contract Balances The Company There are rarely contract assets or liabilities related to performance under the contract.

Leases

Leases	9 Months Ended
	Feb. 26, 2022
Leases [Abstract]
Leases	Note 11 - Leases Expenses related to in Cost of sales, Selling general and administrative expense, and Interest income, net in the Condensed Consolidated Statements of Income. The Company’s lease cost consists of the following (in thousands): Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 26, 2022 Operating lease cost $ 200 $ 625 Finance lease cost Amortization of right-of-use asset $ 44 $ 132 Interest on lease obligations $ 6 $ 20 Short term lease cost $ 1,086 $ 3,221 Future minimum lease payments under non-cancelable leases are as follows (in thousands): As of February 26, 2022 Operating Leases Finance Leases Remainder fiscal 2022 $ 180 $ 60 2023 539 240 2024 380 217 2025 130 — 2026 26 — 2027 5 — Total 1,260 517 Less imputed interest (92) (24) Total $ 1,168 $ 493 The Balance Sheet are as follows: As of February 26, 2022 Operating Leases Finance Leases Weighted-average remaining lease term (years) 2.4 1.8 Weighted-average discount rate 5.9 % 4.9 %

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Feb. 26, 2022
Stock Based Compensation [Abstract]
Stock Based Compensation	Note 12 - Stock Based Compensation Total 3.0 2.8 and February 27, 2021, respectively. Unrecognized compensation Restated 8.1 average period of 2.3 16: Stock Compensation Plans in our 2021 Annual Report for further information on our stock compensation plans. The Company’s restricted share activity for the thirty-nine weeks ended February 26, 2022 follows: Number of Shares Weighted Average Grant Date Fair Value Outstanding, May 29, 2021 302,147 $ 39.37 Granted 113,142 41.13 Vested (90,778) 42.53 Forfeited (3,932) 37.81 Outstanding, February 26, 2022 320,579 $ 39.12

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Feb. 26, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 13 - Commitments and Contingencies Financial Instruments The 4.1 under recorded as a liability on the consolidated balance sheets. LEGAL PROCEEDINGS State of Texas v. On April 23, of Court of violation (“DTPA”). COVID-19 permanent $ 100,000 prejudice. On September 11, First District. The 8, believes the risk of material loss related to this matter to be remote. Bell et al. v. Cal-Maine Foods et al. On April 1:20-cv-461, producers, and farms. Plaintiffs assert that defendants violated the DTPA for eggs eggs Plaintiffs seek to enjoin the Company and eggs prior 10,000 250,000 each violation motion to motion to judge dismissed without prejudice report complaint; thereafter, case without prejudice. of motion. Kraft Foods Global, Inc. et al. v. United Egg Producers, Inc. et al. As previously cases involving plaintiffs who sought substantial damages allegedly arising from the purchase of egg products remaining plaintiffs The Kellogg Company. On September the MDL No. 2002, to the United States District Court for Egg defendants illegally to raise the prices that plaintiffs paid for processed egg products. In particular, the Egg Products Plaintiffs are certain features of the United producers. The Egg and seek the preparing a final pretrial order. On docket entry, informed the parties that the need to discuss issues was no longer necessary and that a scheduled August 30, 2021, status hearing was stricken. No trial schedule has yet been entered by the court. In addition, dismissing condition or results of operations. On not yet entered a judgment on the filing. The Company intends to continue to defend the remaining case with the Egg Products Plaintiffs on resolution of management Products Plaintiffs, due to a range of factors, including the following, among remand; factual issues money damages). State of Oklahoma Watershed Pollution Litigation On June 18, against Cal-Maine Foods, Inc. and Tyson Foods, Inc. and affiliates, Inc. and its chicken litter The complaint court. Foods, remediation. Since the 100 % of the Foods, LLC, LLC is not a defendant in the litigation. The trial in the case began in September 2009 and concluded in February 2010. 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, outcome of 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	9 Months Ended
	Feb. 26, 2022
Related Party Transaction [Abstract]
Related Party Transaction	Note 14 - Related Party Transaction On Adams, beneficiaries 6,900,000 Common Stock held by them, pursuant to a previously disclosed Agreement Regarding Common Stock (the “Agreement”) filed as an exhibit to our 2021 Annual Report. Mrs. Adams and the Daughters’ Trust advised the Company that they were conducting the offering including the Prospectus contained therein dated October each of which Common capital in legal 1.1 million. Pursuant to the Agreement, the Selling Stockholders reimbursed the Company $ 551

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	9 Months Ended
	Feb. 26, 2022
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The "we," Therefore, they do United Report adjustments that are, in the opinion of management, necessary to a fair and, periods are not necessarily indicative of operating results for the entire fiscal year.
Fiscal Year	Fiscal Year The Company's ended on February 26, 2022 and February 27, 2021 included 13 weeks and 39 weeks, respectively
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make assumptions that 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 periods in response to COVID-19.
Investment Securities	Investment Securities Our investment 320”). restrictions current, because the amounts invested are available for with unrealized changes to the losses through the cost Gains and losses are recognized in other income (expenses) as Other, net in the Company's Condensed Consolidated Statements of Income. Balance Sheets.
Trade Receivables	Trade Receivables Trade 29, 725 795 customers based on an The monitoring historical loss information adjusted as needed for economic and other forward-looking factors.
Business Combinations	Business Combinations The acquisitions. These non-financial assets acquired is determined internally. Our internal valuation methodology for non-financial assets considers the remaining estimated life of the assets acquired and what management believes is the market value for those assets.
Change in Accounting Principle	Change in Accounting Principle Effective intended instruments held by financial institutions and other organizations. The guidance replaces the prior “incurred loss” approach with an “expected based guidance on the period of risk “expected guidance and recorded a $ 422
Immaterial Error Correction	Immaterial Error Correction Effective 50 % LLC (“Red that corresponding other Statements of Income. The errors resulted in 6.7 of 9.2 no income (loss) or Net income (loss) per share. We ("SAB") No. 99 Materiality, and Misstatements condensed consolidated impact ended February 26, 2022. Accordingly, we have reflected the correction of the immaterial errors as a reduction of Net Sales and Cost of Sales in the accompanying Condensed Consolidated Statements of Income for the thirty-nine weeks ended February 26, 2022.

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Feb. 26, 2022
Acquisitions [Abstract]
Allocation of Purchase Price	Cash consideration paid $ 48,500 Fair value of the Company's equity interest in Red River held before the business combination 48,500 $ 97,000 Recognized amounts of identifiable assets acquired and liabilities assumed Cash $ 3,677 Accounts receivable, net 1,980 Inventory 8,789 Property, plant and equipment 85,002 Liabilities assumed (2,448) Deferred income taxes (8,481) Total identifiable net assets 88,519 Goodwill 8,481 $ 97,000

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Feb. 26, 2022
Investments Securities [Abstract]
Schedule Of Investment Securities	February 26, 2022 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 514 $ — $ 3 $ 511 Commercial paper 9,980 — 23 9,957 Corporate bonds 61,634 — 344 61,290 Certificates of deposits 1,268 — 12 1,256 Asset backed securities 8,205 — 94 8,111 Total current investment securities $ 81,601 $ — $ 476 $ 81,125 Mutual funds $ 2,967 $ — $ 53 $ 2,914 Total noncurrent investment securities $ 2,967 $ — $ 53 $ 2,914 May 29, 2021 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,424 $ 56 $ — $ 16,480 Commercial paper 1,998 — — 1,998 Corporate bonds 80,092 608 — 80,700 Certificates of deposits 1,077 — 1 1,076 Asset backed securities 11,914 — 10 11,904 Total current investment securities $ 111,505 $ 664 $ 11 $ 112,158 Mutual funds $ 2,306 $ 1,810 $ — $ 4,116 Total noncurrent investment securities $ 2,306 $ 1,810 $ — $ 4,116
Schedule Of Contractual Maturities Of Investment Securities	Estimated Fair Value Within one year $ 52,391 1-5 years 28,734 Total $ 81,125

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Feb. 26, 2022
Fair Value Measurements [Abstract]
Schedule Of Assets Measured At Fair Value On A Recurring Basis	February 26, 2022 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 511 $ — $ 511 Commercial paper — 9,957 — 9,957 Corporate bonds — 61,290 — 61,290 Certificates of deposits — 1,256 — 1,256 Asset backed securities — 8,111 — 8,111 Mutual funds 2,914 — — 2,914 Total assets measured at fair value $ 2,914 $ 81,125 $ — $ 84,039 May 29, 2021 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,480 $ — $ 16,480 Commercial paper — 1,998 — 1,998 Corporate bonds — 80,700 — 80,700 Certificates of deposits — 1,076 — 1,076 Asset backed securities — 11,904 — 11,904 Mutual funds 4,116 — — 4,116 Total assets measured at fair value $ 4,116 $ 112,158 $ — $ 116,274

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Feb. 26, 2022
Inventories [Abstract]
Schedule of Inventories	February 26, 2022 May 29, 2021 Flocks, net of amortization $ 137,086 $ 123,860 Eggs and egg products 24,153 21,084 Feed and supplies 78,848 73,431 $ 240,087 $ 218,375

Accrued Dividends Payable And_2

Accrued Dividends Payable And Dividends per Common Share (Tables)	9 Months Ended
	Feb. 26, 2022
Accrued Dividends Payable And Dividends Per Common Share [Abstract]
Schedule of Dividends	Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 27, 2021 February 26, 2022 February 27, 2021 Net income attributable to Cal-Maine Foods, Inc. $ 39,517 $ 13,548 $ 22,664 $ 6,304 Cumulative losses to be recovered prior to payment of divided at beginning of period (21,097) (8,614) (4,244) (1,370) Net income available for dividend $ 18,420 $ 4,934 $ 18,420 $ 4,934 1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend 6,140 1,645 6,140 1,645 Common stock outstanding (shares) 44,140 44,056 Class A common stock outstanding (shares) 4,800 4,800 Total common stock outstanding (shares) 48,940 48,856 Dividends per common share* $ 0.125 $ 0.034 $ 0.125 $ 0.034 *Dividends 1/3 outstanding (shares).

Equity (Tables)

Equity (Tables)	9 Months Ended
	Feb. 26, 2022
Equity [Abstract]
Schedule of Statement of Stockholders' Equity Activities, Including Noncontrolling Interest	Thirteen Weeks Ended February 26, 2022 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 November 27, 2021 $ 703 $ 48 $ (27,450) $ 66,019 $ (996) $ 959,124 $ (25) $ 997,423 Other comprehensive loss, net of tax — — — — (417) — — (417) Stock compensation plan transactions — — (989) 890 — — — (99) Dividends — — — — — (6,118) — (6,118) Net income (loss) — — — — — 39,517 (63) 39,454 Balance at February 26, 2022 $ 703 $ 48 $ (28,439) $ 66,909 $ (1,413) $ 992,523 $ (88) $ 1,030,243 Thirty-nine Weeks Ended February 26, 2022 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 May 29, 2021 $ 703 $ 48 $ (27,433) $ 64,044 $ (558) $ 975,977 $ — $ 1,012,781 Other comprehensive loss, net of tax — — — — (855) — — (855) Stock compensation plan transactions — — (1,006) 2,865 — — — 1,859 Contributions — — — — — — 3 3 Dividends — — — — — (6,118) — (6,118) Net income (loss) — — — — — 22,664 (91) 22,573 Balance at February 26, 2022 $ 703 $ 48 $ (28,439) $ 66,909 $ (1,413) $ 992,523 $ (88) $ 1,030,243 Thirteen Weeks Ended February 27, 2021 Cal-Maine Foods, Inc. Stockholders Common Stock Accum. Class A Treasury Paid In Other Comp. Retained Amount Amount Amount Capital Income (Loss) 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) Stock compensation plan transactions — — (826) 964 — — 138 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 27, 2021 Cal-Maine Foods, Inc. Stockholders Common Stock Accum. Class A Treasury Paid In Other Comp. Retained Amount Amount Amount Capital Income (Loss) Earnings Total Balance at May 30, 2020 $ 703 $ 48 $ (26,674) $ 60,372 $ 79 $ 975,147 $ 1,009,675 Impact of ASC 326 — — — — — 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) Stock compensation plan transactions — — (875) 2,793 — — 1,918 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

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	9 Months Ended
	Feb. 26, 2022
Net Income per Common Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 27, 2021 February 26, 2022 February 27, 2021 Numerator Net income $ 39,454 $ 13,548 $ 22,573 $ 6,304 Less: Loss attributable to noncontrolling interest (63) — (91) — Net income attributable to Cal-Maine Foods, Inc. $ 39,517 $ 13,548 $ 22,664 $ 6,304 Denominator Weighted-average common shares outstanding, basic 48,886 48,530 48,888 48,511 Effect of dilutive restricted shares 150 129 147 138 Weighted-average common shares outstanding, diluted 49,036 48,659 49,035 48,649 Net income per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.81 $ 0.28 $ 0.46 $ 0.13 Diluted $ 0.81 $ 0.28 $ 0.46 $ 0.13

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Feb. 26, 2022
Revenue Recognition [Abstract]
Disaggregation of Revenue	Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 27, 2021 February 26, 2022 February 27, 2021 Conventional shell egg sales $ 280,633 $ 203,189 $ 685,678 $ 560,297 Specialty shell egg sales 182,945 145,210 462,319 408,537 Egg products 12,749 9,098 33,516 25,736 Other 1,158 1,583 2,682 4,619 $ 477,485 $ 359,080 $ 1,184,195 $ 999,189

Leases (Tables)

Leases (Tables)	9 Months Ended
	Feb. 26, 2022
Leases [Abstract]
Schedule of Lease Cost	Thirteen Weeks Ended Thirty-nine Weeks Ended February 26, 2022 February 26, 2022 Operating lease cost $ 200 $ 625 Finance lease cost Amortization of right-of-use asset $ 44 $ 132 Interest on lease obligations $ 6 $ 20 Short term lease cost $ 1,086 $ 3,221
Schedule of Future Minimum Lease Payments	As of February 26, 2022 Operating Leases Finance Leases Remainder fiscal 2022 $ 180 $ 60 2023 539 240 2024 380 217 2025 130 — 2026 26 — 2027 5 — Total 1,260 517 Less imputed interest (92) (24) Total $ 1,168 $ 493
Schedule of Weighted-Average Information	As of February 26, 2022 Operating Leases Finance Leases Weighted-average remaining lease term (years) 2.4 1.8 Weighted-average discount rate 5.9 % 4.9 %

Stock Based Compensation (Tabl

Stock Based Compensation (Tables)	9 Months Ended
	Feb. 26, 2022
Stock Based Compensation [Abstract]
Summary of Equity Award Activity	Number of Shares Weighted Average Grant Date Fair Value Outstanding, May 29, 2021 302,147 $ 39.37 Granted 113,142 41.13 Vested (90,778) 42.53 Forfeited (3,932) 37.81 Outstanding, February 26, 2022 320,579 $ 39.12

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended				9 Months Ended
	Feb. 26, 2022	Nov. 27, 2021	Aug. 28, 2021	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021	May 30, 2021	May 29, 2021	May 30, 2020
Significant Accounting Policies [Line Items]
Reserves for credit losses	$ 725,000				$ 725,000			$ 795,000
Stockholders' equity	1,030,331,000				1,030,331,000			$ 1,012,781,000
Net sales	477,485,000			$ 359,080,000	1,184,195,000	$ 999,189,000
Cost of sales	385,903,000			311,563,000	1,042,221,000	876,457,000
Operating Income Loss	39,570,000			(493,000)	(2,162,000)	(13,238,000)
Profit Loss	39,454,000			13,548,000	22,573,000	6,304,000
Red River Valley Egg Farm Llc [Member]
Significant Accounting Policies [Line Items]
Business acquisition, percentage of voting interest acquired							50.00%
Revision of Prior Period, Error Correction, Adjustment [Member]
Significant Accounting Policies [Line Items]
Net sales		$ 9,200,000	$ 6,700,000
Cost of sales		$ 9,200,000	$ 6,700,000
Operating Income Loss					0
Profit Loss					0
Retained Earnings [Member]
Significant Accounting Policies [Line Items]
Profit Loss	$ 39,517,000			$ 13,548,000	$ 22,664,000	$ 6,304,000
Retained Earnings [Member] | Restatement Adjustment [Member]
Significant Accounting Policies [Line Items]
Stockholders' equity									$ 422,000,000

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) - Red River Valley Egg Farm Llc [Member] Layers in Millions	May 30, 2021USD ($)aLayers	Feb. 26, 2022USD ($)	May 29, 2021
Business Acquisition [Line Items]
Business acquisition, percentage of voting interest acquired	50.00%
Number of laying hens acquired | Layers	1.7
Area of land | a	400
Gain on remeasurement of interest held prior to acquisition	$ 4,500,000
Ownership percentage			50.00%
Discrete income tax benefit	8,300,000
Reduction of deferred income tax related to outside-basis of equity investment	7,300,000
Reduction to income tax expense on remeasurement gain	954,000
Deferred tax liability recognized	$ 8,500,000	$ 8,481,000

Acquisition (Allocation of Purc

Acquisition (Allocation of Purchase Price) (Details) - USD ($) $ in Thousands	9 Months Ended
	Feb. 26, 2022	May 30, 2021	May 29, 2021
Business Acquisition [Line Items]
Goodwill	$ 44,006		$ 35,525
Red River Valley Egg Farm Llc [Member]
Business Acquisition [Line Items]
Cash consideration paid	48,500
Fair value of the Company's equity interest in Red River held before the business combination	48,500
Business combination, consideration transferred	97,000
Cash	3,677
Accounts receivable, net	1,980
Inventory	8,789
Property, plant and equipment	85,002
Liabilities assumed	(2,448)
Deferred income taxes	(8,481)	$ (8,500)
Total identifiable assets, net	88,519
Goodwill	8,481
Total identifiable assets and goodwill, net	$ 97,000

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($)	9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021	May 29, 2021
Investments Securities [Abstract]
Proceeds from sale of available-for-sale securities, current	$ 76,400,000	$ 85,200,000
Proceeds from sale of available-for-sale securities, noncurrent	4,900,000	0
Gross realized gains on sales of available-for-sale securities, current	181,000	116,000
Gross realized gains on sales of available-for-sale securities, noncurrent	2,200,000
Gross realized losses on sales of available-for-sale securities, current	67,000	$ 17,000
Allowance for credit losses	$ 0		$ 0

Investment Securities (Schedule

Investment Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Thousands	Feb. 26, 2022	May 29, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	$ 81,601	$ 111,505
Unrealized Gains, Current	0	664
Unrealized Losses, Current	476	11
Estimated Fair Value, Current	81,125	112,158
Amortized Cost, Noncurrent	2,967	2,306
Unrealized Gains, Noncurrent	0	1,810
Unrealized Losses, Noncurrent	53	0
Estimated Fair Value, Noncurrent	2,914	4,116
Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	514	16,424
Unrealized Gains, Current	0	56
Unrealized Losses, Current	3	0
Estimated Fair Value, Current	511	16,480
Commercial Paper [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	9,980	1,998
Unrealized Gains, Current	0	0
Unrealized Losses, Current	23	0
Estimated Fair Value, Current	9,957	1,998
Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	61,634	80,092
Unrealized Gains, Current	0	608
Unrealized Losses, Current	344	0
Estimated Fair Value, Current	61,290	80,700
Certificates of Deposits [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	1,268	1,077
Unrealized Gains, Current	0	0
Unrealized Losses, Current	12	1
Estimated Fair Value, Current	1,256	1,076
Asset Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	8,205	11,914
Unrealized Gains, Current	0	0
Unrealized Losses, Current	94	10
Estimated Fair Value, Current	8,111	11,904
Mutual Funds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Noncurrent	2,967	2,306
Unrealized Gains, Noncurrent	0	1,810
Unrealized Losses, Noncurrent	53	0
Estimated Fair Value, Noncurrent	$ 2,914	$ 4,116

Investment Securities (Schedu_2

Investment Securities (Schedule of Contractual Maturities of Investment Securities) (Details) - USD ($) $ in Thousands	Feb. 26, 2022	May 29, 2021
Investments Securities [Abstract]
Within one year	$ 52,391
1-5 years	28,734
Total	$ 81,125	$ 112,158

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets Measured at Fair Value on A Recurring Basis) (Details) - USD ($) $ in Thousands	Feb. 26, 2022	May 29, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 84,039	$ 116,274
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	2,914	4,116
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	81,125	112,158
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	511	16,480
Municipal Bonds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Municipal Bonds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	511	16,480
Municipal Bonds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	9,957	1,998
Commercial Paper [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Commercial Paper [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	9,957	1,998
Commercial Paper [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	61,290	80,700
Corporate Bonds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Corporate Bonds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	61,290	80,700
Corporate Bonds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Certificates of Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	1,256	1,076
Certificates of Deposits [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Certificates of Deposits [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	1,256	1,076
Certificates of Deposits [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	8,111	11,904
Asset Backed Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Asset Backed Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	8,111	11,904
Asset Backed Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	2,914	4,116
Mutual Funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	2,914	4,116
Mutual Funds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Mutual Funds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0	$ 0

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) pullet_and_breeder in Millions, Layers in Millions	Feb. 26, 2022Layerspullet_and_breeder
Inventories [Abstract]
Pullets and breeders | pullet_and_breeder	9.4
Layers | Layers	42.7

Inventories (Schedule Of Invent

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Feb. 26, 2022	May 29, 2021
Inventories [Abstract]
Flocks, net of amortization	$ 137,086	$ 123,860
Eggs and egg products	24,153	21,084
Feed and supplies	78,848	73,431
Total inventories	$ 240,087	$ 218,375

Accrued Dividends Payable And_3

Accrued Dividends Payable And Dividends per Common Share (Narrative) (Details)	3 Months Ended
	Feb. 26, 2022$ / shares
Accrued Dividends Payable And Dividends Per Common Share [Abstract]
Percentage of net income loss used to compute accrued dividends	33.33%
Dividends payable per share	$ 0.125

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. 26, 2022	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021
Class of Stock [Line Items]
Net Income (Loss)	$ 39,517	$ 13,548	$ 22,664	$ 6,304
Cumulative losses to be recovered prior to payment of divided at beginning of period	(21,097)	(8,614)	(4,244)	(1,370)
Net income available for dividend	18,420	4,934	18,420	4,934
1/3 of net income attributable to Cal-Maine Foods, Inc. available for dividend	$ 6,140	$ 1,645	$ 6,140	$ 1,645
Common stock outstanding (shares)	48,940	48,856	48,940	48,856
Dividends per common share (in dollars per share)	$ 0.125	$ 0.034	$ 0.125	$ 0.034
Percentage of net income loss used to compute accrued dividends	33.33%
Common Stock [Member]
Class of Stock [Line Items]
Common stock outstanding (shares)	44,140	44,056	44,140	44,056
Class A Common Stock [Member]
Class of Stock [Line Items]
Common stock outstanding (shares)	4,800	4,800	4,800	4,800

Credit Facility (Narrative) (De

Credit Facility (Narrative) (Details) - Credit Agreement [Member]	9 Months Ended
	Feb. 26, 2022USD ($)
Line Of Credit Facility [Line Items]
Credit facility term	5 years
Maximum borrowing capacity	$ 250,000,000
Available additional capacity	200,000,000
Amount outstanding	$ 0
Maximum total funded debt to capitalization ratio	50.00%
Minimum tangible net worth, amount	$ 700,000
Minimum tangible net worth, percentage of net income	50.00%
Threshold of voting control in related entities that requires compliance with covenant	100.00%
Minimum amount of company voting stock	50.00%
Dividend policy, percentage	33.33%
Minimum cash, cash equivalents, and credit facility availability	$ 50,000,000
Minimum [Member]
Line Of Credit Facility [Line Items]
Commitment fee	0.15%
Maximum [Member]
Line Of Credit Facility [Line Items]
Commitment fee	0.25%
Eurodollar [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Eurodollar [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Eurodollar, One Month [Member]
Line Of Credit Facility [Line Items]
Interest period	12 months
Eurodollar, Two Month [Member]
Line Of Credit Facility [Line Items]
Interest period	6 months
Eurodollar, Three Month [Member]
Line Of Credit Facility [Line Items]
Interest period	3 months
Eurodollar, Six Month [Member]
Line Of Credit Facility [Line Items]
Interest period	2 months
Eurodollar, Twelve Month [Member]
Line Of Credit Facility [Line Items]
Interest period	1 month
Base Rate [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on variable rate	0.00%
Base Rate [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Base Rate, Federal Funds [Member]
Line Of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Base Rate, Eurodollar [Member]
Line Of Credit Facility [Line Items]
Interest period	1 month
Basis spread on variable rate	1.00%
Standby Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 15,000,000
Amount outstanding	4,100,000
Swingline [Member]
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 15,000,000

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. 26, 2022	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021
Schedule of Stockholders Equity [Line Items]
Beginning balance	$ 997,423	$ 1,004,710	$ 1,012,781	$ 1,009,675
Other comprehensive income (loss), net of tax	(417)	(286)	(855)	(214)
Stock compensation plan transactions	(99)	138	1,859	1,918
Contributions			3	5
Dividends	(6,118)	(1,661)	(6,118)	(1,661)
Net income	39,454	13,548	22,573	6,304
Ending balance	1,030,243	1,016,449	1,030,243	1,016,449
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	(27,450)	(26,723)	(27,433)	(26,674)
Stock compensation plan transactions	(989)	(826)	(1,006)	(875)
Ending balance	(28,439)	(27,549)	(28,439)	(27,549)
Treasury Stock [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance				(26,674)
Additional Paid-in Capital [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	66,019	62,206	64,044	60,372
Stock compensation plan transactions	890	964	2,865	2,793
Contributions				5
Ending balance	66,909	63,170	66,909	63,170
Additional Paid-in Capital [Member] | Cumulative Effect Period Of Adoption Adjusted Balance [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance				60,372
AOCI Attributable to Parent [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	(996)	151	(558)	79
Other comprehensive income (loss), net of tax	(417)	(286)	(855)	(214)
Ending balance	(1,413)	(135)	(1,413)	(135)
AOCI Attributable to Parent [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	959,124	968,325	975,977	975,147
Dividends	(6,118)	(1,661)	(6,118)	(1,661)
Net income	39,517	13,548	22,664	6,304
Ending balance	992,523	980,212	992,523	980,212
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 Interest [Member]
Schedule of Stockholders Equity [Line Items]
Beginning balance	(25)		0
Contributions			3
Net income	(63)		(91)
Ending balance	(88)		(88)
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 per Common Share (Co

Net Income per Common Share (Computation of Basic and Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021
Net Income per Common Share [Abstract]
Net income	$ 39,454	$ 13,548	$ 22,573	$ 6,304
Less: Loss attributable to noncontrolling interest	(63)	0	(91)	0
Net income attributable to Cal-Maine Foods, Inc.	$ 39,517	$ 13,548	$ 22,664	$ 6,304
Denominator
Weighted-average common shares outstanding, basic (in shares)	48,886	48,530	48,888	48,511
Effect of dilutive restricted shares (in shares)	150	129	147	138
Weighted-average common shares outstanding, diluted (in shares)	49,036	48,659	49,035	48,649
Net income per common share attributable to Cal-Maine Foods, Inc.
Basic (in dollars per share)	$ 0.81	$ 0.28	$ 0.46	$ 0.13
Diluted (in dollars per share)	$ 0.81	$ 0.28	$ 0.46	$ 0.13

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021	Feb. 26, 2022	Feb. 27, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 477,485	$ 359,080	$ 1,184,195	$ 999,189
Conventional shell egg sales [Member]
Disaggregation of Revenue [Line Items]
Net sales	280,633	203,189	685,678	560,297
Specialty shell egg sales [Member]
Disaggregation of Revenue [Line Items]
Net sales	182,945	145,210	462,319	408,537
Egg products [Member]
Disaggregation of Revenue [Line Items]
Net sales	12,749	9,098	33,516	25,736
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 1,158	$ 1,583	$ 2,682	$ 4,619

Leases (Schedule of Lease Cost)

Leases (Schedule of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Feb. 26, 2022	Feb. 26, 2022
Leases [Abstract]
Operating Lease cost	$ 200	$ 625
Finance Lease cost
Amortization of right-of-use asset	44	132
Interest on lease obligations	6	20
Short term lease cost	$ 1,086	$ 3,221

Leases (Schedule of Future Mini

Leases (Schedule of Future Minimum Lease Payments) (Details) $ in Thousands	Feb. 26, 2022USD ($)
Operating Leases
Remainder of fiscal 2022	$ 180
2023	539
2024	380
2025	130
2026	26
2027	5
Total	1,260
Less imputed interest	(92)
Total	1,168
Finance Leases
Remainder fiscal 2022	60
2023	240
2024	217
2025	0
2026	0
2027	0
Total	517
Less imputed interest	(24)
Total	$ 493

Leases (Schedule of Weighted Av

Leases (Schedule of Weighted Average Information) (Details)	Feb. 26, 2022
Operating Leases
Weighted-average remaining lease term (years)	2 years 4 months 24 days
Weighted-average discount rate	5.90%
Finance Leases
Weighted-average remaining lease term (years)	1 year 9 months 18 days
Weighted-average discount rate	4.90%

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Feb. 26, 2022	Feb. 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 8.1
Weighted average period of unrecognized compensation expense	2 years 3 months 18 days
Stock based compensation expense (benefit)	$ 3	$ 2.8

Stock Based Compensation (Summa

Stock Based Compensation (Summary of Equity Award Activity) (Details)	9 Months Ended
	Feb. 26, 2022$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Number of Shares, Outstanding, Beginning Balance (in shares) | shares	302,147
Number of Shares, Granted (in shares) | shares	113,142
Number of Shares, Vested (in shares) | shares	(90,778)
Number of Shares, Forfeited (in shares) | shares	(3,932)
Number of Shares, Outstanding, Ending Balance (in shares) | shares	320,579
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance (in dollars per share) | $ / shares	$ 39.37
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	41.13
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	42.53
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	37.81
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance (in dollars per share) | $ / shares	$ 39.12

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($)	Apr. 23, 2020	Feb. 26, 2022
Credit Agreement [Member]
Loss Contingencies [Line Items]
Amount outstanding		$ 0
Credit Agreement [Member] | Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Amount outstanding		$ 4,100,000
Benton County Foods [Member]
Loss Contingencies [Line Items]
Ownership interest		100.00%
Pending Litigation | State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC [Member]
Loss Contingencies [Line Items]
Damages sought	$ 100,000
Pending Litigation | Bell et al. v. Cal-Maine Foods et al. [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Damages sought	10,000
Pending Litigation | Bell et al. v. Cal-Maine Foods et al. [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Damages sought	$ 250,000

Related Party Transaction (Narr

Related Party Transaction (Narrative) (Details) - Immediate Family Member Of Management Or Principal Owner [Member] $ in Thousands	Aug. 24, 2020USD ($)shares
Related Party Transaction [Line Items]
Shares issued | shares	6,900,000
Fees paid	$ 1,100
Fees reimbursed	$ 551