Pilgrim's Pride (PPC) 10-Q 3 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 25, 2017	Aug. 02, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 25, 2017
Entity Registrant Name	PILGRIMS PRIDE CORP
Entity Central Index Key	802,481
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		248,752,508

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 303,937	$ 120,328
Restricted cash	20,348	4,979
Trade accounts and other receivables, less allowance for doubtful accounts	406,586	317,170
Accounts receivable from related parties	4,050	3,913
Inventories	967,577	813,262
Income taxes receivable	13,659	0
Prepaid expenses and other current assets	66,572	57,457
Assets held for sale	5,542	5,259
Total current assets	1,788,271	1,322,368
Other long-lived assets	17,484	15,710
Identified intangible assets, net	153,855	38,593
Goodwill	175,444	125,607
Property, plant and equipment, net	1,721,948	1,505,940
Total assets	3,857,002	3,008,218
Accounts payable	519,820	555,097
Accounts payable to related parties	3,622	1,421
Accrued expenses and other current liabilities	324,727	290,699
Income taxes payable	93,910	20,990
Current maturities of long-term debt	40,098	94
Total current liabilities	982,177	868,301
Long-term debt, less current maturities	1,404,264	1,011,858
Deferred tax liabilities	171,042	142,651
Other long-term liabilities	89,422	88,661
Total liabilities	2,646,905	2,111,471
Common stock	2,602	2,597
Treasury stock	(231,758)	(217,117)
Additional paid-in capital	1,688,684	1,686,742
Accumulated deficit	(193,073)	(520,635)
Accumulated other comprehensive loss	(66,735)	(64,243)
Total Pilgrim’s Pride Corporation stockholders’ equity	1,199,720	887,344
Noncontrolling interest	10,377	9,403
Total stockholders’ equity	1,210,097	896,747
Total liabilities and stockholders’ equity	$ 3,857,002	$ 3,008,218

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Income Statement [Abstract]
Net sales	$ 2,251,604	$ 2,028,315	$ 4,272,096	$ 3,991,252
Cost of sales	1,826,217	1,742,184	3,631,504	3,467,559
Gross profit	425,387	286,131	640,592	523,693
Selling, general and administrative expense	61,636	49,520	124,489	98,308
Administrative restructuring charges	4,349	0	4,349	0
Operating income	359,402	236,611	511,754	425,385
Interest expense, net of capitalized interest	15,935	11,548	28,321	23,581
Interest income	(1,044)	(683)	(1,346)	(1,376)
Foreign currency transaction gain	(1,810)	(4,744)	(1,191)	(4,979)
Miscellaneous, net	(970)	(950)	(3,685)	(3,896)
Income before income taxes	347,291	231,440	489,655	412,055
Income tax expense	113,218	78,398	161,119	141,002
Net income	234,073	153,042	328,536	271,053
Less: Net income (loss) attributable to noncontrolling interests	432	156	974	(204)
Net income attributable to Pilgrim’s Pride Corporation	$ 233,641	$ 152,886	$ 327,562	$ 271,257
Weighted average shares of common stock outstanding:
Basic (in shares)	248,753	254,554	248,722	254,681
Effect of dilutive common stock equivalents (in shares)	220	390	228	364
Diluted (in shares)	248,973	254,944	248,950	255,045
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:
Basic (usd per share)	$ 0.94	$ 0.60	$ 1.32	$ 1.07
Diluted (usd per share)	$ 0.94	$ 0.60	$ 1.32	$ 1.06

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 234,073	$ 153,042	$ 328,536	$ 271,053
Other comprehensive loss:
Loss associated with available-for-sale securities, net of tax benefit of $59 and $41, respectively	0	(97)	0	(67)
Loss associated with pension and other postretirement benefits, net of tax benefit of $2,314, $1,118, $1,512 and $5,294, respectively	(3,814)	(1,844)	(2,492)	(8,729)
Total other comprehensive loss, net of tax	(3,814)	(1,941)	(2,492)	(8,796)
Comprehensive income	230,259	151,101	326,044	262,257
Less: Comprehensive income (loss) attributable to noncontrolling interests	432	156	974	(204)
Comprehensive income attributable to Pilgrim’s Pride Corporation	$ 229,827	$ 150,945	$ 325,070	$ 262,461

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Statement of Comprehensive Income [Abstract]
Gain (loss) associated with available-for-sale securities, tax expense (benefit)	$ 0	$ (59)	$ 0	$ (41)
Gain (loss) associated with pension and other postretirement benefits, tax expense (benefit)	$ (2,314)	$ (1,118)	$ (1,512)	$ (5,294)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Balance, shares at Dec. 27, 2015		259,685	4,862
Balance at Dec. 27, 2015	$ 1,261,810	$ 2,597	$ (99,233)	$ 1,675,674	$ (261,252)	$ (58,930)	$ 2,954
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	271,053				271,257		(204)
Other comprehensive loss, net of tax	(8,796)					(8,796)
Share-based compensation plans:
Requisite service period recognition	1,869			1,869
Common stock purchased under share repurchase program (in shares)			(309)
Common stock purchased under share repurchase program	(7,328)		$ (7,328)
Balance, shares at Jun. 26, 2016		259,685	5,171
Balance at Jun. 26, 2016	818,693	$ 2,597	$ (106,561)	1,677,543	(689,910)	(67,726)	2,750
Balance, shares at Dec. 25, 2016		259,682	10,636
Balance at Dec. 25, 2016	896,747	$ 2,597	$ (217,117)	1,686,742	(520,635)	(64,243)	9,403
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	328,536				327,562		974
Other comprehensive loss, net of tax	(2,492)					(2,492)
Share-based compensation plans:
Common stock issued under compensation plans (in shares)		486
Common stock issued under compensation plans	0	$ 5		(5)
Requisite service period recognition	1,947			1,947
Common stock purchased under share repurchase program (in shares)			(780)
Common stock purchased under share repurchase program	(14,641)		$ (14,641)
Balance, shares at Jun. 25, 2017		260,168	11,416
Balance at Jun. 25, 2017	$ 1,210,097	$ 2,602	$ (231,758)	$ 1,688,684	$ (193,073)	$ (66,735)	$ 10,377

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016
Cash flows from operating activities:
Net income	$ 328,536	$ 271,053
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	107,671	88,683
Foreign currency transaction loss related to borrowing arrangements	5,634	0
Asset impairment	3,534	0
Gain on property disposals	(768)	(6,755)
Gain on equity method investments	(30)	0
Share-based compensation	1,947	1,869
Deferred income tax expense (benefit)	26,904	(700)
Changes in operating assets and liabilities:
Trade accounts and other receivables	(73,684)	6,610
Inventories	(97,857)	(31,208)
Prepaid expenses and other current assets	(5,702)	(19,817)
Accounts payable, accrued expenses and other current liabilities	(34,565)	(23,028)
Income taxes	60,695	6,967
Long-term pension and other postretirement obligations	(3,916)	(3,952)
Other operating assets and liabilities	(2,265)	(738)
Cash provided by operating activities	316,134	288,984
Cash flows from investing activities:
Acquisitions of property, plant and equipment	(174,150)	(93,978)
Purchase of acquired business, net of cash acquired	(359,698)	0
Proceeds from property disposals	1,466	8,097
Cash used in investing activities	(532,382)	(85,881)
Cash flows from financing activities:
Proceeds from note payable to bank	0	36,838
Payments on note payable to bank	0	(65,564)
Proceeds from revolving line of credit and long-term borrowings	1,013,662	351,089
Payments on revolving line of credit, long-term borrowings and capital lease obligations	(586,056)	(219,812)
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation	5,038	3,691
Payment of capitalized loan costs	(2,777)	(693)
Purchase of common stock under share repurchase program	(14,641)	(7,328)
Payment of special cash dividends	0	(699,915)
Cash provided by (used in) financing activities	415,226	(601,694)
Increase (decrease) in cash, cash equivalents and restricted cash	198,978	(398,591)
Cash, cash equivalents and restricted cash, beginning of period	125,307	439,638
Cash, cash equivalents and restricted cash, end of period	$ 324,285	$ 41,047

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Business Pilgrim’s Pride Corporation (referred to herein as “Pilgrim’s,” “PPC,” “the Company,” “we,” “us,” “our,” or similar terms) is one of the largest chicken producers in the world, with operations in the United States (“U.S.”), Mexico and Puerto Rico. Pilgrim's products are sold to foodservice, retail and frozen entrée customers. The Company's primary distribution is through retailers, foodservice distributors and restaurants throughout the United States and Puerto Rico and in the northern and central regions of Mexico. Additionally, the Company exports chicken products to approximately 80 countries. Pilgrim’s fresh chicken products consist of refrigerated (nonfrozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. The Company’s prepared chicken products include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of which are either breaded or non-breaded and either marinated or non-marinated. As a vertically integrated company, we control every phase of the production of our products. We operate feed mills, hatcheries, processing plants and distribution centers in 14 U.S. states, Puerto Rico and Mexico. As of June 25, 2017 , Pilgrim’s had approximately 42,000 employees and the capacity to process approximately 39.2 million birds per five-day work week for a total of approximately 11.5 billion pounds of live chicken annually. Approximately 4,400 contract growers supply poultry for the Company’s operations. As of June 25, 2017 , JBS S.A., through its indirect wholly-owned subsidiaries (together, “JBS”), beneficially owned 78.6% of the Company’s outstanding common stock. Consolidated Financial Statements The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments unless otherwise disclosed) considered necessary for a fair presentation have been included. Operating results for the twenty-six weeks ended weeks ended June 25, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 25, 2016 . Pilgrim’s operates on a 52/53-week fiscal year that ends on the Sunday falling on or before December 31. The reader should assume any reference we make to a particular year (for example, 2017 ) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. The Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. We eliminate all significant affiliate accounts and transactions upon consolidation. The Company measures the financial statements of its Mexico subsidiaries as if the U.S. dollar were the functional currency. Accordingly, we remeasure assets and liabilities, other than non-monetary assets, of the Mexico subsidiaries at current exchange rates. We remeasure non-monetary assets using the historical exchange rate in effect on the date of each asset’s acquisition. We remeasure income and expenses at average exchange rates in effect during the period. Currency exchange gains or losses are included in the line item Foreign currency transaction loss in the Condensed Consolidated Statements of Income. Reportable Segment We operate in one reportable business segment, as a producer and seller of chicken products we either produce or purchase for resale. Revenue Recognition We recognize revenue when all of the following circumstances are satisfied: (i) persuasive evidence of an arrangement exists, (ii) price is fixed or determinable, (iii) collectability is reasonably assured and (iv) delivery has occurred. Delivery occurs in the period in which the customer takes title and assumes the risks and rewards of ownership of the products specified in the customer’s purchase order or sales agreement. Revenue is recorded net of estimated incentive offerings including special pricing agreements, promotions and other volume-based incentives. Revisions to these estimates are charged back to net sales in the period in which the facts that give rise to the revision become known. Book Overdraft The majority of the Company’s disbursement bank accounts are zero balance accounts where cash needs are funded as checks are presented for payment by the holder. Checks issued pending clearance that result in overdraft balances for accounting purposes are classified as accounts payable and the change in the related balance is reflected in operating activities on the Condensed Consolidated Statements of Cash Flows. Restricted Cash The Company is required to maintain cash balances with a broker as collateral for exchange traded futures contracts. These balances are classified as restricted cash as they are not available for use by the Company to fund daily operations. The balance of restricted cash may also include investments in U.S. Treasury Bills that qualify as cash equivalents, as required by the broker, to offset the obligation to return cash collateral. The following table reconciles cash, cash equivalents and restricted cash as reported in the Condensed Consolidated Balance Sheets to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows: June 25, 2017 December 25, 2016 (In thousands) Cash and cash equivalents $ 303,937 $ 120,328 Restricted cash 20,348 4,979 Total cash, cash equivalents and restricted cash shown in the $ 324,285 $ 125,307 Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. In June 2015, the FASB agreed to defer by one year the mandatory effective date of this standard, but will also provide entities the option to adopt the new guidance as of the original effective date. The provisions of the new guidance will be effective as of the beginning of our 2018 fiscal year, but we had the option to adopt the guidance as early as the beginning of our 2017 fiscal year. We have elected to adopt this standard as of January 1, 2018, the beginning of our 2018 fiscal year, using the modified retrospective approach. We are currently assessing our contracts with customers and evaluating the impact of the new guidance on these contracts. Although we are still evaluating the impact, we do not currently expect the new guidance to have a material impact on our financial statements beyond additional disclosure requirements. In July 2015, the FASB issued new accounting guidance on the subsequent measurement of inventory, which, in an effort to simplify unnecessarily complicated accounting guidance that can result in several potential outcomes, requires an entity to measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Current accounting guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The provisions of the new guidance were effective as of the beginning of our 2017 fiscal year. The initial adoption of this guidance did not have a material impact on our financial statements. In February 2016, the FASB issued new accounting guidance on lease arrangements, which, in an effort to increase transparency and comparability among organizations utilizing leasing, requires an entity that is a lessee to recognize the assets and liabilities arising from leases on the balance sheet. This guidance also requires disclosures about the amount, timing and uncertainty of cash flows arising from leases. In transition, the entity is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The provisions of the new guidance will be effective as of the beginning of our 2019 fiscal year. Early adoption is permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date. In March 2016, the FASB issued new accounting guidance on employee share-based payments, which, in an effort to simplify unnecessarily complicated aspects of accounting and reporting for share-based payment transactions, requires an entity to amend accounting and reporting methodology for areas such as the income tax consequences of share-based payments, classification of share-based awards as either equity or liabilities, and classification of share-based payment transactions in the statement of cash flows. The transition approach will vary depending on the area of accounting and reporting methodology to be amended. The Company adopted this standard on December 26, 2016, the beginning of our 2017 fiscal year, and will prospectively present excess tax benefits or deficiencies in the income statement as a component of "Provision for income taxes" rather than in the "Equity" section of the Balance Sheet. As part of the adoption, the Company did not have a cumulative-effect adjustment, as there were no previous unrecognized excess tax benefits that would impact retained earnings. As a result, there was no retrospective adjustment to the prior period statement of cash flows of excess tax benefits as an operating activity rather than a financing activity. In June 2016, the FASB issued new accounting guidance on the measurement of credit losses on financial instruments, which, in an effort to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance sheet credit exposures, reinsurance receivables and any other financial assets not excluded from the scope that have the contractual right to receive cash. The provisions of the new guidance will be effective as of the beginning of our 2020 fiscal year. Early adoption is permitted after our 2018 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date. In November 2016, the FASB issued new accounting guidance on the classification and presentation of restricted cash in the statement of cash flows in order to eliminate the diversity that currently exists in how companies present these changes. The new guidance requires restricted cash to be included with cash and cash equivalents when explaining the changes in cash in the statement of cash flows. We elected to early adopt this guidance as of December 26, 2016, the beginning of our 2017 fiscal year. An entity should apply the new guidance on a retrospective basis, wherein the statement of cash flow of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information that has been retrospectively adjusted and the effect of the change on the financial statement line items. A description of the prior-period information that has been retrospectively adjusted and the effect of the change on the statement of cash flow line items is not disclosed as it is not material. In March 2017, the FASB issued new accounting guidance on the presentation of net periodic pension cost and net periodic postretirement benefit cost, which, in an effort to improve consistency and transparency, requires the service cost component of defined benefit pension cost and postretirement benefit cost (“net benefit cost”) to be reported in the same line of the income statement as other compensation costs earned by the employee and the other components of net benefit cost to be reported below income from operations. The new guidance will be effective as of the beginning of our 2019 fiscal year with early adoption permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date.

BUSINESS ACQUISITION

BUSINESS ACQUISITION	6 Months Ended
	Jun. 25, 2017
Business Combinations [Abstract]
BUSINESS ACQUISITION	BUSINESS ACQUISITION On January 6, 2017, the Company acquired 100% of the membership interests of JFC LLC and its subsidiaries (together, “GNP”) from Maschhoff Family Foods, LLC for cash. GNP is a vertically integrated poultry business based in Saint Cloud, Minnesota. The acquired business has a production capacity of 2.1 million birds per five-day work week in its three plants and employs approximately 1,750 people. The following table summarizes the consideration paid for GNP (in thousands): Negotiated sales price $ 350,000 Working capital adjustment 7,252 Preliminary purchase price $ 357,252 The preliminary purchase price includes $2.5 million due to PPC from Maschhoff Family Foods, LLC for working capital adjustments. Transaction costs incurred in conjunction with the purchase were approximately $0.5 million . These costs were expensed as incurred. The results of operations of the acquired business since January 6, 2017 are included in the Company’s Condensed Consolidated Statements of Income. Net sales generated by the acquired business during the thirteen and twenty-six weeks ended June 25, 2017 totaled $115.9 million and $213.7 million , respectively The acquired business generated net income during the thirteen and twenty-six weeks ended June 25, 2017 totaling $10.2 million and $14.8 million , respectively. The assets acquired and liabilities assumed in the GNP acquisition were measured at their fair values at January 6, 2017 as set forth below. The excess of the purchase price over the fair values of the net tangible assets and identifiable intangible assets was recorded as goodwill. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the acquisition as well the assembled workforce. These benefits include (i) complementary product offerings, (ii) an enhanced footprint in the U.S., (iii) shared knowledge of innovative technologies such as gas stunning, aeroscalding and automated deboning, (iv) enhanced position in the fast-growing antibiotic-free and certified organic chicken segments due to the addition of GNP’s portfolio of Just BARE® Certified Organic and Natural/American Humane Certified TM /No-Antibiotics-Ever product lines and (v) attractive cost-reduction synergy opportunities and value creation. The Company has tax basis in the goodwill, and therefore, the goodwill is deductible for tax purposes. The preliminary fair values recorded were determined based upon a preliminary valuation. The estimates and assumptions used in such valuation are subject to change, which could be significant, within the measurement period (up to one year from the acquisition date). The primary areas of acquisition accounting that are not yet finalized relate to the preliminary nature of the valuation of property, plant and equipment, intangible assets and residual goodwill. We continue to review inputs and assumptions used in the preliminary valuations. The fair values recorded for the assets acquired and liabilities assumed for GNP are as follows (in thousands): Cash and cash equivalents $ 10 Trade accounts and other receivables 18,453 Inventories 56,459 Prepaid expenses and other current assets 3,414 Property, plant and equipment 144,138 Identifiable intangible assets 123,220 Other long-lived assets 829 Total assets acquired 346,523 Accounts payable 23,848 Other current liabilities 11,866 Other long-term liabilities 3,393 Total liabilities assumed 39,107 Total identifiable net assets 307,416 Goodwill 49,836 Total net assets $ 357,252 The Company recognized certain identifiable intangible assets during the twenty-six weeks ended June 25, 2017 due to this acquisition. The following table presents the fair values and useful lives, where applicable, of these assets: Fair Value Useful Life (In thousands) (In years) Customer relationships $ 85,000 13.0 Trade names 38,200 20.0 Non-compete agreement 20 3.0 Total fair value $ 123,220 Weighted average useful life 15.2 The Company performed a valuation of the assets and liabilities of GNP as of January 6, 2017. Significant assumptions used in the preliminary valuation and the bases for their determination are summarized as follows: • Property, plant and equipment, net . Property, plant and equipment at fair value gave consideration to the highest and best use of the assets. The valuation of the Company's real property improvements and the majority of its personal property was based on the cost approach. The valuation of the Company's land, as if vacant, and certain personal property assets was based on the market or sales comparison approach. • Trade names . The Company valued two trade names using the income approach, specifically the relief from royalty method. Under this method, the asset value of each trade name was determined by estimating the hypothetical royalties that would have to be paid if it was not owned. Royalty rates were selected based on consideration of several factors, including (i) prior transactions involving GNP trade names, (ii) incomes derived from license agreements on comparable trade names within the food industry and (iii) the relative profitability and perceived contribution of each trade name. The royalty rate used in the determination of the fair values of the two trade names was 2.0% of expected net sales related to the respective trade names. In estimating the fair value of the trade names, net sales related to the respective trade names were estimated to grow at a rate of 2.5% . Income taxes were estimated at 39.3% of pre-tax income, a tax amortization benefit factor was estimated at 1.2098 and the hypothetical savings generated by avoiding royalty costs were discounted using a rate of 13.8% . • Customer relationships . The Company valued GNP customer relationships using the income approach, specifically the multi-period excess earnings model. Under this model, the fair value of the customer relationships asset was determined by estimating the net cash inflows from the relationships discounted to present value. In estimating the fair value of the customer relationships, net sales related to existing GNP customers were estimated to grow at a rate of 2.5% annually, but we also anticipate losing existing GNP customers at an attrition rate of 4.0% . Income taxes were estimated at 39.3% of pre-tax income, a tax amortization benefit factor was estimated at 1.2098 and net cash flows attributable to our existing customers were discounted using a rate of 13.8% . The Company recognized the following change in goodwill due to this acquisition during the twenty-six weeks ended June 25, 2017 (in thousands): Balance, beginning of period $ 125,607 Preliminary purchase price attributed to goodwill 49,836 Balance, end of period $ 175,443 During the thirteen weeks ended June 25, 2017, the Company recognized restructuring charges in the amounts of $0.7 million and $0.1 million related to the elimination of prepaid costs associated with obsolete GNP software and involuntary employee termination costs, respectively. These charges are reported in the line item Administrative restructuring charges on the Condensed Consolidated Statements of Income. The Company expects to incur additional involuntary employee termination costs of approximately $1.8 million during 2017. The following unaudited pro forma information presents the combined financial results for the Company and GNP as if the acquisition had been completed at the beginning of the Company’s prior year, December 28, 2015. Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended (In thousands, except per share amount) Net sales $ 4,277,896 $ 4,209,015 Net income attributable to Pilgrim's Pride Corporation 325,179 266,341 Net income attributable to Pilgrim's Pride Corporation 1.31 1.04 The above unaudited pro forma financial information is presented for informational purposes only and does not purport to represent what the Company’s results of operations would have been had it completed the acquisition on the date assumed, nor is it necessarily indicative of the results that may be expected in future periods. Pro forma adjustments exclude cost savings from any synergies resulting from the acquisition.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 25, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities measured at fair value must be categorized into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or Level 3 Unobservable inputs, such as discounted cash flow models or valuations. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement in its entirety. As of June 25, 2017 and December 25, 2016 , the Company held derivative assets and liabilities that were required to be measured at fair value on a recurring basis. Derivative assets and liabilities consist of long and short positions on exchange-traded commodity futures instruments and foreign currency forward contracts to manage translation risk. The following items were measured at fair value on a recurring basis: June 25, 2017 Level 1 Total (In thousands) Fair value assets: Commodity futures instruments $ 3,855 $ 3,855 Commodity options instruments 9 9 Fair value liabilities: Commodity futures instruments (8,717 ) (8,717 ) Commodity options instruments (3,019 ) (3,019 ) Foreign currency instruments (186 ) (186 ) December 25, 2016 Level 1 Total (In thousands) Fair value assets: Commodity futures instruments $ 5,341 $ 5,341 Commodity options instruments 98 98 Fair value liabilities: Commodity futures instruments (4,063 ) (4,063 ) Commodity option instruments (2,764 ) (2,764 ) See “Note 7. Derivative Financial Instruments” for additional information. Fair value and carrying value for our fixed-rate debt obligation is as follows: June 25, 2017 December 25, 2016 Carrying Fair Carrying Fair (In thousands) Fixed-rate senior notes payable at 5.75%, at Level 1 inputs $ (500,000 ) $ (504,005 ) $ (500,000 ) $ (503,395 ) See “Note 10. Long-Term Debt and Other Borrowing Arrangements” for additional information. The valuation of financial assets and liabilities classified in Level 1 is determined using a market approach, taking into account current interest rates, creditworthiness, and liquidity risks in relation to current market conditions, and is based upon unadjusted quoted prices for identical assets in active markets. The valuation of financial assets and liabilities in Level 2 is determined using a market approach based upon quoted prices for similar assets and liabilities in active markets or other inputs that are observable for substantially the full term of the financial instrument. The valuation of financial assets in Level 3 is determined using an income approach based on unobservable inputs such as discounted cash flow models or valuations. In addition to the fair value disclosure requirements related to financial instruments carried at fair value, accounting standards require periodic disclosures regarding the fair value of all of the Company’s financial instruments. The methods and significant assumptions used to estimate the fair value of financial instruments and any changes in methods or significant assumptions from prior periods are also required to be disclosed. Derivative assets were recorded at fair value based on quoted market prices and are included in the line item Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. Derivative liabilities were recorded at fair value based on quoted market prices and are included in the line item Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets. The fair value of the Company’s fixed-rate debt obligation was based on the quoted market price at June 25, 2017 or December 25, 2016 , as applicable. In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records certain assets and liabilities at fair value on a nonrecurring basis. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges when required by U.S. GAAP. There were no significant fair value measurement losses recognized for such assets and liabilities in the periods reported.

TRADE ACCOUNTS AND OTHER RECEIV

TRADE ACCOUNTS AND OTHER RECEIVABLES	6 Months Ended
	Jun. 25, 2017
Accounts Receivable, Net [Abstract]
TRADE ACCOUNTS AND OTHER RECEIVABLES	TRADE ACCOUNTS AND OTHER RECEIVABLES Trade accounts and other receivables, less allowance for doubtful accounts, consisted of the following: June 25, 2017 December 25, 2016 (In thousands) Trade accounts receivable $ 394,219 $ 305,337 Notes receivable - current 630 630 Other receivables 17,041 15,766 Receivables, gross 411,890 321,733 Allowance for doubtful accounts (5,304 ) (4,563 ) Receivables, net $ 406,586 $ 317,170 Account receivable from related parties (a) $ 4,050 $ 3,913 (a) Additional information regarding accounts receivable from related parties is included in “Note 15. Related Party Transactions.” Activity in the allowance for doubtful accounts for the twenty-six weeks ended June 25, 2017 was as follows (in thousands): Balance, beginning of period $ (4,563 ) Provision charged to operating results (771 ) Account write-offs and recoveries 374 GNP acquisition (17 ) Effect of exchange rate (327 ) Balance, end of period $ (5,304 )

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 25, 2017
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following: June 25, 2017 December 25, 2016 (In thousands) Live chicken and hens $ 411,445 $ 362,054 Feed, eggs and other 274,785 250,680 Finished chicken products 276,749 182,918 Total chicken inventories 962,979 795,652 Commercial feed and other 4,598 17,610 Total inventories $ 967,577 $ 813,262

INVESTMENTS IN SECURITIES

INVESTMENTS IN SECURITIES	6 Months Ended
	Jun. 25, 2017
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN SECURITIES	INVESTMENTS IN SECURITIES We recognize investments in available-for-sale securities as cash equivalents, current investments or long-term investments depending upon each security's length to maturity. Additionally, those securities identified by management at the time of purchase for funding operations in less than one year are classified as current. The following table summarizes our investments in available-for-sale securities: June 25, 2017 December 25, 2016 Amortized Cost Fair Amortized Cost Fair (In thousands) Cash equivalents: Fixed income securities $ 85,849 $ 85,849 $ 44,865 $ 44,865 Other 62 62 61 61 Securities classified as cash and cash equivalents mature within 90 days. Securities classified as short-term investments mature between 91 and 365 days. Securities classified as long-term investments mature after 365 days. The specific identification method is used to determine the cost of each security sold and each amount reclassified out of accumulated other comprehensive loss to earnings. Gross realized gains and gross realized losses recognized during the thirteen and twenty-six weeks ended June 25, 2017 and June 26, 2016 related to the Company’s available-for-sale securities were immaterial. Proceeds received from the sale or maturity of available-for-sale securities recognized as either short- or long-term investments are historically disclosed in the Condensed Consolidated Statements of Cash Flows. No proceeds were received from the sale or maturity of available-for-sale securities recognized as either short- or long-term investments during the twenty-six weeks ended June 25, 2017 and June 26, 2016 . Net unrealized holding gains and losses on the Company’s available-for-sale securities recognized during the twenty-six weeks ended June 25, 2017 and June 26, 2016 that have been included in accumulated other comprehensive loss and the net amount of gains and losses reclassified out of accumulated other comprehensive loss to earnings during the twenty-six weeks ended June 25, 2017 and June 26, 2016 is disclosed in “Note 13. Stockholders’ Equity - Accumulated Other Comprehensive Loss.”

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 25, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company utilizes various raw materials in its operations, including corn, soybean meal, soybean oil, sorghum and energy, such as natural gas, electricity and diesel fuel, which are all considered commodities. The Company considers these raw materials generally available from a number of different sources and believes it can obtain them to meet its requirements. These commodities are subject to price fluctuations and related price risk due to factors beyond our control, such as economic and political conditions, supply and demand, weather, governmental regulation and other circumstances. Generally, the Company purchases derivative financial instruments, specifically exchange-traded futures and options, in an attempt to mitigate price risk related to its anticipated consumption of commodity inputs for approximately the next 12 months. The Company may purchase longer-term derivative financial instruments on particular commodities if deemed appropriate. The Company has operations in Mexico and, therefore, has exposure to translational foreign exchange risk when the financial results of those operations are translated to U.S. dollars. The Company has purchased foreign currency forward contracts to manage this translational foreign exchange risk. The fair value of derivative assets is included in the line item Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets while the fair value of derivative liabilities is included in the line item Accrued expenses and other current liabilities on the same statements. Our counterparties require that we post cash collateral for changes in the net fair value of the derivative contracts. We have not designated the derivative financial instruments that we have purchased to mitigate commodity purchase or foreign currency transaction exposures as cash flow hedges. Therefore, we recognized changes in the fair value of these derivative financial instruments immediately in earnings. Gains or losses related to these derivative financial instruments are included in the line item Cost of sales in the Condensed Consolidated Statements of Income. The Company recognized net gains of $3.2 million and $1.8 million related to changes in the fair value of its derivative financial instruments during the thirteen weeks ended June 25, 2017 and June 26, 2016 , respectively. The Company also recognized net gains of $0.4 million and $5.9 million related to changes in the fair value of its derivative financial instruments during the twenty-six weeks ended June 25, 2017 and June 26, 2016 , respectively. Information regarding the Company’s outstanding derivative instruments and cash collateral posted with (owed to) brokers is included in the following table: June 25, 2017 December 25, 2016 (Fair values in thousands) Fair values: Commodity derivative assets $ 3,864 $ 5,439 Commodity derivative liabilities (11,736 ) (6,827 ) Foreign currency derivative liabilities (186 ) — Cash collateral posted with brokers 20,348 4,979 Derivatives coverage (a) : Corn 2.0 % 2.3 % Soybean meal 12.0 % 0.3 % Period through which stated percent of needs are covered: Corn September 2018 September 2018 Soybean meal January 2018 July 2017 (a) Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 25, 2017
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment (“PP&E”), net consisted of the following: June 25, 2017 December 25, 2016 (In thousands) Land $ 164,157 $ 112,132 Buildings 1,256,981 1,169,984 Machinery and equipment 1,888,854 1,789,550 Autos and trucks 47,840 50,964 Construction-in-progress 268,175 231,874 PP&E, gross 3,626,007 3,354,504 Accumulated depreciation (1,904,059 ) (1,848,564 ) PP&E, net $ 1,721,948 $ 1,505,940 The Company recognized depreciation expenses of $52.0 million and $43.5 million during the thirteen weeks ended June 25, 2017 and June 26, 2016 , respectively. The Company recognized depreciation expense of $97.8 million and $81.9 million during the twenty-six weeks ended June 25, 2017 and June 26, 2016 , respectively. During the twenty-six weeks ended June 25, 2017 , Pilgrim's spent $174.2 million on capital projects and transferred $ 139.6 million of completed projects from construction-in-progress to depreciable assets. During the twenty-six weeks ended June 26, 2016 , the Company spent $94.0 million on capital projects and transferred $128.1 million of completed projects from construction-in-progress to depreciable assets. Capital expenditures were primarily incurred during the twenty-six weeks ended June 25, 2017 to improve efficiencies and reduce costs. During the thirteen and twenty-six weeks ended June 25, 2017 , the Company sold certain PP&E for cash of $2.0 million and $1.5 million , respectively, and recognized net gains on these sales of $0.9 million and $0.8 million , respectively. PP&E sold in the twenty-six weeks ended June 25, 2017 included poultry farms in Alabama and Texas, vacant land in Texas and miscellaneous equipment. During the thirteen and twenty-six weeks ended June 26, 2016 , the Company sold certain PP&E for cash of $7.5 million and $8.1 million , respectively, and recognized net gains on these sales of $6.6 million and $6.8 million , respectively. PP&E sold in the twenty-six weeks ended June 26, 2016 included poultry farms in Mexico and Texas, an office building in Texas, vacant land in Alabama and Texas and miscellaneous equipment. Management has committed to the sale of certain properties and related assets, including, but not limited to, a processing complex in Texas, a processing complex in Alabama and miscellaneous machinery and equipment, which no longer fit into the operating plans of the Company. The Company is actively marketing these properties and related assets for immediate sale and believes a sale of each property can be consummated within the next 12 months. At both June 25, 2017 and December 25, 2016 , the Company reported properties and related assets totaling $5.5 million and $5.3 million , respectively, in the line item Assets held for sale on its Condensed Consolidated Balance Sheets. The fair values of the Texas processing complex and the Alabama processing complex were both based on quoted market prices. The fair values of the miscellaneous assets were based on prices for similar assets. The Company tested the recoverability of its assets held for sale and determined that the aggregate carrying amount of the Texas processing complex asset group was recoverable over the remaining life of the respective primary asset in that asset group. However, the aggregate carrying amount of the Alabama processing complex asset group was not recoverable over the remaining life of the respective primary asset in that asset group. The Company recognized impairment cost of $ 3.5 million , which it reported in the line item Administrative restructuring charges on its Condensed Consolidated Statements of Income. The Company has closed or idled various processing complexes, processing plants, hatcheries, broiler farms, and feed mills throughout the U.S. Neither the Board of Directors nor JBS has determined if it would be in the best interest of the Company to divest any of these idled assets. Management is therefore not certain that it can or will divest any of these assets within one year, is not actively marketing these assets and, accordingly, has not classified them as assets held for sale. The Company continues to depreciate these assets. At June 25, 2017 , the carrying amount of these idled assets was $52.7 million based on depreciable value of $174.0 million and accumulated depreciation of $121.3 million . The Company last tested the recoverability of its long-lived assets held and used in December 2016 . At that time, the Company determined that the carrying amount of its long-lived assets held and used was recoverable over the remaining life of the primary asset in the group and that long-lived assets held and used passed the Step 1 recoverability test under ASC 360-10-35, Impairment or Disposal of Long-Lived Assets . There were no indicators present during the twenty-six weeks ended June 25, 2017 that required the Company to test its long-lived assets held and used for recoverability.

CURRENT LIABILITIES

CURRENT LIABILITIES	6 Months Ended
	Jun. 25, 2017
Payables and Accruals [Abstract]
CURRENT LIABILITIES	CURRENT LIABILITIES Current liabilities, other than current notes payable to banks, income taxes and current maturities of long-term debt, consisted of the following components: June 25, 2017 December 25, 2016 (In thousands) Accounts payable: Trade accounts $ 457,952 $ 487,214 Book overdrafts 46,964 63,577 Other payables 14,904 4,306 Total accounts payable 519,820 555,097 Accounts payable to related parties (a) 3,622 1,421 Accrued expenses and other current liabilities: Compensation and benefits 107,631 110,385 Interest and debt-related fees 10,934 8,685 Insurance and self-insured claims 77,540 82,544 Derivative liabilities: Futures 8,717 4,063 Options 3,019 2,764 Foreign currency 186 — Other accrued expenses 116,700 82,258 Total accrued expenses and other current liabilities 324,727 290,699 $ 848,169 $ 847,217 (a) Additional information regarding accounts payable from related parties is included in “Note 15. Related Party Transactions.”

LONG-TERM DEBT AND OTHER BORROW

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS	6 Months Ended
	Jun. 25, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS	LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the following components: Maturity June 25, 2017 December 25, 2016 (In thousands) Long-term debt and other long-term borrowing arrangements: Senior notes payable at 5.75% 2025 $ 500,000 $ 500,000 U.S. Credit Facility (defined below): Term note payable at 4.75% 2022 800,000 500,000 Revolving note payable at 4.56% 2022 73,262 — Mexico Credit Facility (defined below) with notes payable at 2019 83,328 23,304 Capital lease obligations Various 330 376 Long-term debt 1,456,920 1,023,680 Less: Current maturities of long-term debt (40,098 ) (94 ) Long-term debt, less current maturities 1,416,822 1,023,586 Less: Capitalized financing costs (12,558 ) (11,728 ) Long-term debt, less current maturities, net of capitalized financing costs: $ 1,404,264 $ 1,011,858 Senior Notes On March 11, 2015, the Company completed a sale of $500.0 million aggregate principal amount of its 5.75% senior notes due 2025 (the “Senior Notes”). The Company used the net proceeds from the sale of the Senior Notes to repay $350.0 million and $150.0 million of the term loan indebtedness under the U.S. Credit Facility (defined below) on March 12, 2015 and April 22, 2015, respectively. The Notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The Senior Notes are governed by, and were issued pursuant to, an indenture dated as of March 11, 2015 by and among the Company, its guarantor subsidiary and Wells Fargo Bank, National Association, as trustee (the “Indenture”). The Indenture provides, among other things, that the Senior Notes bear interest at a rate of 5.75% per annum from the date of issuance until maturity, payable semi-annually in cash in arrears, beginning on September 15, 2015. The Senior Notes are guaranteed on a senior unsecured basis by the Company’s guarantor subsidiary. In addition, any of the Company’s other existing or future domestic restricted subsidiaries that incur or guarantee any other indebtedness (with limited exceptions) must also guarantee the Senior Notes. The Senior Notes and related guarantees are unsecured senior obligations of the Company and its guarantor subsidiary and rank equally with all of the Company’s and its guarantor subsidiary’s other unsubordinated indebtedness. The Senior Notes and the Indenture also contain customary covenants and events of default, including failure to pay principal or interest on the Senior Notes when due, among others. U.S. Credit Facility On May 8, 2017, the Company and certain of its subsidiaries entered into a Third Amended and Restated Credit Agreement (the “U.S. Credit Facility”) with Coöperatieve Rabobank U.A., New York Branch (“Rabobank”), as administrative agent and collateral agent, and the other lenders party thereto. The U.S. Credit Facility provides for a revolving loan commitment of up to $750.0 million and a term loan commitment of up to $800.0 million (the “Term Loans”). The U.S. Credit Facility also includes an accordion feature that allows the Company, at any time, to increase the aggregate revolving loan and term loan commitments by up to an additional $1.0 billion , subject to the satisfaction of certain conditions, including obtaining the lenders’ agreement to participate in the increase. The revolving loan commitment under the U.S. Credit Facility matures on May 6, 2022. All principal on the Term Loans is due at maturity on May 6, 2022. Installments of principal are required to be made, in an amount equal to 1.25% of the original principal amount of the term loans, on a quarterly basis prior to the maturity date of the term loans. Covenants in the U.S. Credit Facility also require the Company to use the proceeds it receives from certain asset sales and specified debt or equity issuances and upon the occurrence of other events to repay outstanding borrowings under the U.S. Credit Facility. As of June 25, 2017 , the company had Term Loans outstanding totaling $800.0 million and the amount available for borrowing under the revolving loan commitment was $631.9 million . The Company had letters of credit of $44.8 million and borrowings of $73.3 million outstanding under the revolving loan commitment as of June 25, 2017 . The U.S. Credit Facility includes a $75.0 million sub-limit for swingline loans and a $125.0 million sub-limit for letters of credit. Outstanding borrowings under the revolving loan commitment and the Term Loans bear interest at a per annum rate equal to (i) in the case of LIBOR loans, LIBOR plus 1.50% through June 25, 2017 and, thereafter, based on the Company’s net senior secured leverage ratio, between LIBOR plus 1.25% and LIBOR plus 2.75% and (ii) in the case of alternate base rate loans, the base rate plus 0.50% through June 25, 2017 and, based on the Company’s net senior secured leverage ratio, between the base rate plus 0.25% and base rate plus 1.75% thereafter. The U.S. Credit Facility contains financial covenants and various other covenants that may adversely affect the Company’s ability to, among other things, incur additional indebtedness, incur liens, pay dividends or make certain restricted payments, consummate certain assets sales, enter into certain transactions with JBS and the Company’s other affiliates, merge, consolidate and/or sell or dispose of all or substantially all of our assets. The U.S. Credit Facility requires the Company to comply with a minimum level of tangible net worth covenant. The U.S. Credit Facility also provides that we may not incur capital expenditures in excess of $500.0 million in any fiscal year. The Company is currently in compliance with the covenants under the U.S. Credit Facility. All obligations under the U.S. Credit Facility continue to be unconditionally guaranteed by certain of the Company’s subsidiaries and continue to be secured by a first priority lien on (i) the accounts receivable and inventory of our company and its non-Mexico subsidiaries, (ii) 100% of the equity interests in our domestic subsidiaries, To-Ricos, Ltd. and To-Ricos Distribution, Ltd., and 65% of the equity interests in our direct foreign subsidiaries and (iii) substantially all of the assets of the Company and the guarantors under the U.S. Credit Facility. Mexico Credit Facility On September 27, 2016, certain of our Mexican subsidiaries entered into an unsecured credit agreement (the “Mexico Credit Facility”) with BBVA Bancomer, S.A. Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, as lender. The loan commitment under the Mexico Credit Facility was $ 1.5 billion Mexican pesos. Outstanding borrowings under the Mexico Credit Facility accrued interest at a rate equal to the Interbank Equilibrium Interest Rate plus 0.95% . The Mexico Credit Facility is scheduled to mature on September 27, 2019. As of June 25, 2017 , the U.S. dollar-equivalent loan commitment under the Mexico Credit Facility was $83.3 million , and there were $83.3 million outstanding borrowings under the Mexico Credit Facility that bear interest at a per annum rate of 8.10% . As of June 25, 2017 , the U.S. dollar-equivalent borrowing availability was $5,600 .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 25, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded income tax expense of $161.1 million , a 32.9% effective tax rate, for the twenty-six weeks ended June 25, 2017 compared to income tax expense of $141.0 million , a 34.2% effective tax rate, for the twenty-six weeks ended June 26, 2016 . The increase in income tax expense in 2017 resulted primarily from an increase in pre-tax income. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income and tax-planning strategies in making this assessment. As of June 25, 2017 , the Company did not believe it had sufficient positive evidence to conclude that realization of its federal capital loss carry forwards and a portion of its foreign net deferred tax assets are more likely than not to be realized. For the twenty-six weeks ended June 25, 2017 and June 26, 2016 , there is a tax effect of $1.5 million and $5.3 million , respectively, reflected in other comprehensive income. Beginning in 2017, as a result of new FASB guidance on share-based payments, excess tax benefits are now required to be reported in income tax expense rather than in additional paid-in capital. For the twenty-six weeks ended June 25, 2017 , there is an immaterial tax effect reflected in income tax expense due to excess tax benefits related to share-based compensation. For the twenty-six weeks ended June 26, 2016 , there is no tax effect reflected in additional paid-in capital due to excess tax benefits related to share-based compensation. See “Note 1. Description of Business and Basis of Presentation” for additional information. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations by taxing authorities for years prior to 2010 and is no longer subject to Mexico income tax examinations by taxing authorities for years prior to 2010. The United States Fifth Circuit Court of Appeals rendered judgment in favor of the Company regarding the IRS’ amended proof of claim relating to the tax year ended June 26, 2004 for Gold Kist Inc. (“Gold Kist”). See “Note 16. Commitments and Contingencies” for additional information.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 25, 2017
Defined Benefit Plan [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	PENSION AND OTHER POSTRETIREMENT BENEFITS The Company sponsors programs that provide retirement benefits to most of its employees. These programs include qualified defined benefit pension plans, nonqualified defined benefit retirement plans, a defined benefit postretirement life insurance plan and defined contribution retirement savings plans. Expenses recognized under all of these retirement plans totaled $1.6 million and $1.4 million in the thirteen weeks ended June 25, 2017 and June 26, 2016 , respectively, and $3.2 million and $3.0 million in the twenty-six weeks ended June 25, 2017 and June 26, 2016 , respectively. Defined Benefit Plans Obligations and Assets The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Condensed Consolidated Balance Sheets for these defined benefit plans were as follows: Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits Change in projected benefit obligation: (In thousands) Projected benefit obligation, beginning of period $ 167,159 $ 1,648 $ 165,952 $ 1,672 Interest cost 2,786 25 2,793 26 Actuarial losses (gains) 8,885 101 12,736 72 Benefits paid (4,430 ) (74 ) (4,581 ) (70 ) Projected benefit obligation, end of period $ 174,400 $ 1,700 $ 176,900 $ 1,700 Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits Change in plan assets: (In thousands) Fair value of plan assets, beginning of period $ 97,526 $ — $ 96,947 $ — Actual return on plan assets 7,142 — 1,084 — Contributions by employer 4,502 74 4,412 70 Benefits paid (4,430 ) (74 ) (4,581 ) (70 ) Fair value of plan assets, end of period $ 104,740 $ — $ 97,862 $ — June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Funded status: (In thousands) Unfunded benefit obligation, end of period $ (69,660 ) $ (1,700 ) $ (69,633 ) $ (1,648 ) June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Amounts recognized in the Condensed Consolidated Balance Sheets at end of period: (In thousands) Current liability $ (13,103 ) $ (147 ) $ (13,113 ) $ (147 ) Long-term liability (56,557 ) (1,553 ) (56,520 ) (1,501 ) Recognized liability $ (69,660 ) $ (1,700 ) $ (69,633 ) $ (1,648 ) June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Amounts recognized in accumulated other comprehensive loss at end of period: (In thousands) Net actuarial loss (gain) $ 50,398 $ 70 $ 46,494 $ (31 ) The accumulated benefit obligation for our defined benefit pension plans was $174.4 million and $167.2 million at June 25, 2017 and December 25, 2016 , respectively. Each of our defined benefit pension plans had accumulated benefit obligations that exceeded the fair value of plan assets at June 25, 2017 and December 25, 2016 , respectively. As of June 25, 2017 , the weighted average duration of our defined benefit pension obligation is 32.44 years. Net Periodic Benefit Costs Net defined benefit pension and other postretirement costs included the following components: Thirteen Weeks Ended Thirteen Weeks Ended Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended June 26, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Interest cost $ 1,393 $ 12 $ 1,397 $ 14 $ 2,786 $ 25 $ 2,793 $ 26 Estimated return on plan assets (1,313 ) — (1,314 ) — (2,626 ) — (2,628 ) — Amortization of net loss 233 — 164 — 466 — 329 — Net costs $ 313 $ 12 $ 247 $ 14 $ 626 $ 25 $ 494 $ 26 Economic Assumptions The weighted average assumptions used in determining pension and other postretirement plan information were as follows: June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure benefit obligation at end of period: Discount rate 3.88 % 3.41 % 4.31 % 3.81 % Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure net pension and other postretirement cost: Discount rate 4.31 % 3.81 % 4.47 % 4.47 % Expected return on plan assets 5.50 % NA 5.50 % NA The discount rate represents the interest rate used to determine the present value of future cash flows currently expected to be required to settle the Company's pension and other benefit obligations. The weighted average discount rate for each plan was established by comparing the projection of expected benefit payments to the AA Above Median yield curve. The expected benefit payments were discounted by each corresponding discount rate on the yield curve. For payments beyond 30 years, the Company extended the curve assuming the discount rate derived in year 30 is extended to the end of the plan's payment expectations. Once the present value of the string of benefit payments was established, the Company determined the single rate on the yield curve, that when applied to all obligations of the plan, would exactly match the previously determined present value. As part of the evaluation of pension and other postretirement assumptions, the Company applied assumptions for mortality that incorporate generational white and blue collar mortality trends. In determining its benefit obligations, the Company used generational tables that take into consideration increases in plan participant longevity. As of June 25, 2017 and December 25, 2016 , all pension and other postretirement benefit plans used variations of the RP2014 mortality table and the MP2015 mortality improvement scale. The sensitivity of the projected benefit obligation for pension benefits to changes in the discount rate is set out below. The impact of a change in the discount rate of 0.25% on the projected benefit obligation for other benefits is less than $1,000 . This sensitivity analysis is based on changing one assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to variations in significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as for calculating the liability recognized in the Condensed Consolidated Balance Sheet. Increase in Discount Rate of 0.25% Decrease in Discount Rate of 0.25% (In thousands) Impact on projected benefit obligation for pension benefits $ (4,819 ) $ 5,123 The expected rate of return on plan assets was primarily based on the determination of an expected return and behaviors for each plan's current asset portfolio that the Company believes are likely to prevail over long periods. This determination was made using assumptions for return and volatility of the portfolio. Asset class assumptions were set using a combination of empirical and forward-looking analysis. To the extent historical results were affected by unsustainable trends or events, the effects of those trends or events were quantified and removed. The Company also considered anticipated asset allocations, investment strategies and the views of various investment professionals when developing this rate. Plan Assets The following table reflects the pension plans’ actual asset allocations: June 25, 2017 December 25, 2016 Cash and cash equivalents — % — % Pooled separate accounts (a) : Equity securities 5 % 5 % Fixed income securities 5 % 5 % Common collective trust funds (a) : Equity securities 60 % 60 % Fixed income securities 30 % 30 % Total assets 100 % 100 % (a) Pooled separate accounts (“PSAs”) and common collective trust funds (“CCTs”) are two of the most common types of alternative vehicles in which benefit plans invest. These investments are pooled funds that look like mutual funds, but they are not registered with the SEC. Often times, they will be invested in mutual funds or other marketable securities, but the unit price generally will be different from the value of the underlying securities because the fund may also hold cash for liquidity purposes, and the fees imposed by the fund are deducted from the fund value rather than charged separately to investors. Some PSAs and CCTs have no restrictions as to their investment strategy and can invest in riskier investments, such as derivatives, hedge funds, private equity funds, or similar investments. Absent regulatory or statutory limitations, the target asset allocation for the investment of pension assets in the pooled separate accounts is 50% in each of fixed income securities and equity securities and the target asset allocation for the investment of pension assets in the common collective trust funds is 30% in fixed income securities and 70% in equity securities. The plans only invest in fixed income and equity instruments for which there is a readily available public market. We develop our expected long-term rate of return assumptions based on the historical rates of returns for equity and fixed income securities of the type in which our plans invest. The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of June 25, 2017 and December 25, 2016 : June 25, 2017 December 25, 2016 Level 1 (a) Level 2 (b) Level 3 (c) Total Level 1 (a) Level 2 (b) Level 3 (c) Total (In thousands) Cash and cash equivalents $ 127 $ — $ — $ 127 $ 119 $ — $ — $ 119 Pooled separate accounts: Large U.S. equity funds (d) — 3,583 — 3,583 — 3,302 — 3,302 Small/Mid U.S. equity funds (e) — 419 — 419 — 406 — 406 International equity funds (f) — 1,419 — 1,419 — 1,231 — 1,231 Fixed income funds (g) — 4,749 — 4,749 — 4,867 — 4,867 Common collective trusts funds: Large U.S. equity funds (d) — 25,699 — 25,699 — 24,547 — 24,547 Small U.S. equity funds (e) — 18,489 — 18,489 — 17,344 — 17,344 International equity funds (f) — 18,581 — 18,581 — 17,006 — 17,006 Fixed income funds (g) — 31,674 — 31,674 — 28,704 — 28,704 Total assets $ 127 $ 104,613 $ — $ 104,740 $ 119 $ 97,407 $ — $ 97,526 (a) Unadjusted quoted prices in active markets for identical assets are used to determine fair value. (b) Quoted prices in active markets for similar assets and inputs that are observable for the asset are used to determine fair value. (c) Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value. (d) This category is comprised of investment options that invest in stocks, or shares of ownership, in large, well-established U.S. companies. These investment options typically carry more risk than fixed income options but have the potential for higher returns over longer time periods. (e) This category is generally comprised of investment options that invest in stocks, or shares of ownership, in small to medium-sized U.S. companies. These investment options typically carry more risk than larger U.S. equity investment options but have the potential for higher returns. (f) This category is comprised of investment options that invest in stocks, or shares of ownership, in companies with their principal place of business or office outside of the U.S. (g) This category is comprised of investment options that invest in bonds, or debt of a company or government entity (including U.S. and non-U.S. entities). It may also include real estate investment options that directly own property. These investment options typically carry more risk than short-term fixed income investment options (including, for real estate investment options, liquidity risk), but less overall risk than equities. The valuation of plan assets in Level 2 is determined using a market approach based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for substantially the full term of the financial instrument. Level 2 securities primarily include equity and fixed income securities funds. Benefit Payments The following table reflects the benefits as of June 25, 2017 expected to be paid through 2026 from our pension and other postretirement plans. Because our pension plans are primarily funded plans, the anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. Because our other postretirement plans are unfunded, the anticipated benefits with respect to these plans will come from our own assets. Pension Benefits Other Benefits (In thousands) 2017 (remaining) $ 8,482 $ 73 2018 11,617 147 2019 11,088 146 2020 11,019 144 2021 10,790 142 2022-2026 49,927 640 Total $ 102,923 $ 1,292 We anticipate contributing $6.1 million and $0.1 million , as required by funding regulations or laws, to our pension plans and other postretirement plans, respectively, during the remainder of 2017 . Unrecognized Benefit Amounts in Accumulated Other Comprehensive Loss The amounts in accumulated other comprehensive loss that were not recognized as components of net periodic benefits cost and the changes in those amounts are as follows: Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Net actuarial loss (gain), beginning of period $ 46,494 $ (31 ) $ 38,115 $ (79 ) Amortization (466 ) — (329 ) — Curtailment and settlement adjustments — — — — Actuarial loss (gain) 8,885 101 12,736 72 Asset loss (gain) (4,515 ) — 1,543 — Net actuarial loss (gain), end of period $ 50,398 $ 70 $ 52,065 $ (7 ) The Company expects to recognize in net pension cost throughout the remainder of 2017 an actuarial loss of $0.5 million that was recorded in accumulated other comprehensive loss at June 25, 2017 . Risk Management Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which are detailed below: Asset volatility. The plan liabilities are calculated using a discount rate set with reference to corporate bond yields; if plan assets under perform this yield, this will create a deficit. The pension plans hold a significant proportion of equities, which are expected to outperform corporate bonds in the long-term while contributing volatility and risk in the short-term. The Company monitors the level of investment risk but has no current plan to significantly modify the mixture of investments. The investment position is discussed more below. Changes in bond yields. A decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plans’ bond holdings. The investment position is managed and monitored by a committee of individuals from various departments. This group actively monitors how the duration and the expected yield of the investments are matching the expected cash outflows arising from the pension obligations. The group has not changed the processes used to manage its risks from previous periods. The group does not use derivatives to manage its risk. Investments are well diversified, such that the failure of any single investment would not have a material impact on the overall level of assets. The majority of equities are in U.S. large and small cap companies with some global diversification into international entities. The plans are not exposed to significant foreign currency risk. Remeasurement The Company remeasures both plan assets and obligations on a quarterly basis.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 25, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Accumulated Other Comprehensive Loss The following tables provide information regarding the changes in accumulated other comprehensive loss: Twenty-Six Weeks Ended June 25, 2017 (a) Twenty-Six Weeks Ended June 26, 2016 (a) Losses Related to Pension and Other Postretirement Benefits Unrealized Holding Gains on Available-for-Sale Securities Total Losses Related to Pension and Other Postretirement Benefits Unrealized Holding Gains on Available-for-Sale Securities Total (In thousands) Balance, beginning of period $ (64,243 ) $ — $ (64,243 ) $ (58,997 ) $ 67 $ (58,930 ) Other comprehensive income (loss) before reclassifications (2,782 ) — (2,782 ) (8,934 ) 265 (8,669 ) Amounts reclassified from accumulated other comprehensive loss to net income 290 — 290 205 (332 ) (127 ) Net current period other comprehensive loss (2,492 ) — (2,492 ) (8,729 ) (67 ) (8,796 ) Balance, end of period $ (66,735 ) $ — $ (66,735 ) $ (67,726 ) $ — $ (67,726 ) (a) All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss. Amounts Reclassified from Accumulated Other Comprehensive Loss (a) Details about Accumulated Other Comprehensive Loss Components Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended June 26, 2016 Affected Line Item in the Condensed Consolidated Statements of Operations (In thousands) Realized gain on sale of securities $ — $ 534 Interest income Amortization of defined benefit pension and other postretirement plan actuarial losses: Union employees pension plan (b)(d) (12 ) (10 ) Cost of sales Legacy Gold Kist plans (c)(d) (142 ) (100 ) Cost of sales Legacy Gold Kist plans (c)(d) (312 ) (220 ) Selling, general and administrative expense Total before tax (466 ) 204 Tax benefit (expense) 176 (77 ) Total reclassification for the period $ (290 ) $ 127 (a) Amounts in parentheses represent debits to results of operations. (b) The Company sponsors the Pilgrim’s Pride Retirement Plan for Union Employees, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements. (c) The Company sponsors the Pilgrim’s Pride Plan for Legacy Gold Kist Employees, a qualified defined benefit pension plan covering certain eligible U.S. employees who were employed at locations that the Company purchased through its acquisition of Gold Kist in 2007, the Former Gold Kist Inc. Supplemental Executive Retirement Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist executives, the Former Gold Kist Inc. Directors’ Emeriti Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist directors, and the Gold Kist Inc. Retiree Life Insurance Plan, a defined benefit postretirement life insurance plan covering certain retired Gold Kist employees. (d) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See “Note 12. Pension and Other Postretirement Benefits” to the Condensed Consolidated Financial Statements. Share Repurchase Program and Treasury Stock On July 28, 2015, the Company’s Board of Directors approved a $150.0 million share repurchase authorization. The Company plans to repurchase shares through various means, which may include but are not limited to open market purchases, privately negotiated transactions, the use of derivative instruments and/or accelerated share repurchase programs. The share repurchase program was originally scheduled to expire on July 27, 2016. On February 10, 2016, the Company’s Board of Directors approved an increase of the share repurchase authorization to $300.0 million and an extension of the expiration to February 9, 2017. On February 8, 2017, the Company's Board of Directors further extended the program expiration to August 9, 2017. The extent to which the Company repurchases its shares and the timing of such repurchases will vary and depend upon market conditions and other corporate considerations, as determined by the Company’s management team. The Company reserves the right to limit or terminate the repurchase program at any time without notice. As of June 25, 2017 , the Company had repurchased approximately 11.4 million shares under this program with a market value at the time of purchase of approximately $231.8 million . The Company accounted for the shares repurchased using the cost method. Restrictions on Dividends Both the U.S. Credit Facility and the Indenture governing the Senior Notes restrict, but do not prohibit, the Company from declaring dividends.

INCENTIVE COMPENSATION

INCENTIVE COMPENSATION	6 Months Ended
	Jun. 25, 2017
INCENTIVE COMPENSATION [Abstract]
INCENTIVE COMPENSATION	INCENTIVE COMPENSATION The Company sponsors a short-term incentive plan that provides the grant of either cash or share-based bonus awards payable upon achievement of specified performance goals (the “STIP”). Full-time, salaried exempt employees of the Company and its affiliates who are selected by the administering committee are eligible to participate in the STIP. The Company has accrued $11.9 million in costs related to the STIP at June 25, 2017 related to cash bonus awards that could potentially be awarded during the remainder of 2017 and 2018 . The Company assumed responsibility for the JFC LLC Long-Term Equity Incentive Plan dated January 1, 2014, as amended (the “JFC LTIP”) through its acquisition of GNP on January 6, 2017. The Company has accrued $3.4 million in costs related to the JFC LTIP at June 25, 2017 . The Company also sponsors a performance-based, omnibus long-term incentive plan that provides for the grant of a broad range of long-term equity-based and cash-based awards to the Company’s officers and other employees, members of the Board of Directors and any consultants (the “LTIP”). The equity-based awards that may be granted under the LTIP include “incentive stock options,” within the meaning of the Internal Revenue Code, nonqualified stock options, stock appreciation rights, restricted stock awards and restricted stock units (“RSUs”). At June 25, 2017 , we have reserved approximately 4.8 million shares of common stock for future issuance under the LTIP. The following awards were outstanding during the twenty-six weeks ended June 25, 2017 : Award Type Benefit Plan Awards Granted Grant Date Grant Date Fair Value per Award (a) Vesting Condition Vesting Date Vesting Date Fair Value per Award (a) Estimated Forfeiture Rate Awards Forfeited to Date Settlement Method RSU LTIP 449,217 02/19/2014 $ 16.70 Service 12/31/2016 $ 18.99 13.49 % 86,458 Stock RSU LTIP 223,701 03/03/2014 17.18 Performance / Service 12/31/2017 12.34 % 55,516 Stock RSU (b) LTIP 45,961 02/11/2015 25.87 Service 12/31/2017 18.99 12.34 % — Stock RSU LTIP 251,136 03/30/2016 25.36 Performance / Service 12/31/2019 18.99 (d) 251,136 Stock RSU (b) LTIP 74,536 10/13/2016 20.93 Service 12/31/2016 — % — Stock RSU LTIP 389,424 01/19/2017 18.39 Performance / Service (e) — % — Stock RSU (c) LTIP 48,586 02/13/2017 20.52 Service 2/13/2017 — % — Stock RSU (c) LTIP 23,469 02/13/2017 20.52 Service 12/31/2017 — % — Stock (a) The fair value of each RSU granted or vested represents the closing price of the Company's common stock on the respective grant date or vesting date. (b) On February 17, 2015, the Company paid a special cash dividend to stockholders of record as of January 30, 2015 totaling $5.77 per share. On January 27, 2015, the Compensation Committee of the Company's Board of Directors agreed to grant additional RSUs to LTIP participants that were equal to the amount of the dividend that would be awarded to them had their RSUs existing as of the dividend record date been vested. The additional RSUs that were granted to the LTIP participants are subject to the same vesting requirements as the underlying RSUs granted under the LTIP. (c) On May 18, 2016, the Company paid a special cash dividend to stockholders of record as of May 10, 2015 totaling $2.75 per share. On October 27, 2016, the Compensation Committee of the Company's Board of Directors agreed to grant additional RSUs to LTIP participants that were equal to the amount of the dividend that would be awarded to them had their RSUs existing as of the dividend record date been vested. The additional RSUs that were granted to the LTIP participants are subject to the same vesting requirements as the underlying RSUs granted under the LTIP. (d) Performance conditions associated with these awards were not satisfied. Therefore, 100% of the awards were forfeited during the twenty-six weeks ended June 25, 2017 . (e) The subject RSUs will vest in ratable tranches on December 31, 2018, December 31, 2019, and December 31, 2020. Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below: Thirteen Weeks Ended Twenty-Six Weeks Ended June 25, 2017 June 26, 2016 June 25, 2017 June 26, 2016 (In thousands) Share-based compensation cost: Cost of sales $ 38 $ 162 $ 187 $ 261 Selling, general and administrative expense 449 827 1,760 1,608 Total $ 487 $ 989 $ 1,947 $ 1,869 Income tax benefit $ 184 $ 293 $ 601 $ 550 The Company’s RSU activity is included below: Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended June 26, 2016 Number Weighted Average Grant Date Fair Value Number Weighted Average Grant Date Fair Value (In thousands, except weighted average fair values) Outstanding at beginning of period 906 $ 20.00 774 $ 18.78 Granted 462 18.72 251 25.36 Vested (486 ) 17.73 — — Forfeited (251 ) 25.36 (193 ) 24.51 Outstanding at end of period 631 $ 18.68 832 $ 19.44 The total fair value of awards vested during the twenty-six weeks ended June 25, 2017 was $9.2 million . No awards vested during the twenty-six weeks ended June 26, 2016 . At June 25, 2017 , the total unrecognized compensation cost related to all nonvested awards was $8.8 million . That cost is expected to be recognized over a weighted average period of 2.23 years. Historically, we have issued new shares to satisfy award conversions.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 25, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies. Thirteen Weeks Ended Twenty-Six Weeks Ended June 25, 2017 June 26, 2016 June 25, 2017 June 26, 2016 (In thousands) JBS USA Food Company Holdings : Letter of credit fees (a) $ — $ — $ — $ 202 JBS USA Food Company: Purchases from JBS USA Food Company (b) 24,994 26,377 52,283 46,888 Expenditures paid by JBS USA Food Company on behalf of Pilgrim’s Pride Corporation (c) 7,349 8,722 18,298 16,326 Sales to JBS USA Food Company (b) 4,833 4,114 9,396 7,416 Expenditures paid by Pilgrim’s Pride Corporation on behalf of JBS USA Food Company (c) 1,595 1,725 2,460 8,688 JBS Chile Ltda.: Sales to JBS Chile Ltda. — 107 — 312 JBS Global (UK) Ltd.: Sales to JBS Global (UK) Ltd. — — 19 122 JBS Five Rivers: Sales to JBS Five Rivers (d) 9,394 — 16,516 — J&F Investimentos Ltd.: Sales to J&F Investimentos Ltd. — — 104 — JBS Seara: Sales to JBS Seara 80 — 80 — (a) JBS USA Food Company Holdings (“JBS USA Holdings”) arranged for letters of credit to be issued on its account in the aggregate amount of $56.5 million to an insurance company on behalf of the Company in order to allow that insurance company to return cash it held as collateral against potential workers’ compensation, auto liability and general liability claims. In return for providing this letter of credit, the Company has agreed to reimburse JBS USA Holdings for the letter of credit fees the Company would otherwise incur under its U.S. Credit Facility. The letter of credit arrangements for $40.0 million and $16.5 million were terminated on March 7, 2016 and April 1, 2016, respectively. For the twenty-six weeks ended June 26, 2016, the Company paid JBS USA Holdings $ 0.2 million for letter of credit fees. (b) We routinely execute transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of June 25, 2017 and December 25, 2016, the outstanding payable to JBS USA was $3.6 million and $1.4 million , respectively. As of June 25, 2017 and December 25, 2016, the outstanding receivable from JBS USA was $2.1 million and $3.8 million , respectively. As of June 25, 2017 , approximately $ 1.1 million of goods from JBS USA were in transit and not reflected on our Condensed Consolidated Balance Sheet. (c) The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for its combined companies. Under this agreement, the fees associated with procuring SAP licenses and maintenance services are allocated between the Company and JBS USA in proportion to the percentage of licenses used by each company. The agreement expires on the date of expiration, or earlier termination, of the underlying SAP license agreement. The Company also has an agreement with JBS USA to allocate the costs of supporting the business operations by one consolidated corporate team, which have historically been supported by their respective corporate teams. Expenditures paid by JBS USA on behalf of the Company will be reimbursed by the Company and expenditures paid by the Company on behalf of JBS USA will be reimbursed by JBS USA. This agreement expires on December 31, 2019. (d) The outstanding receivable from JBS Five Rivers at June 25, 2017 was $1.9 million . There was no outstanding receivable from JBS Five Rivers at December 25, 2016. The Company entered into a tax sharing agreement during 2014 with JBS USA Holdings effective for tax years starting in 2010. The net tax receivable of $5.0 million for tax year 2016 was accrued in 2016 and paid in February 2017. The net tax receivable of $3.7 million for tax year 2015 was accrued in 2015 and paid in January 2016.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 25, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are a party to many routine contracts in which we provide general indemnities in the normal course of business to third parties for various risks. Among other considerations, we have not recorded a liability for any of these indemnities as based upon the likelihood of payment, the fair value of such indemnities would not have a material impact on our financial condition, results of operations and cash flows. The Company is subject to various legal proceedings and claims which arise in the ordinary course of business. In the Company’s opinion, it has made appropriate and adequate accruals for claims where necessary; however, the ultimate liability for these matters is uncertain, and if significantly different than the amounts accrued, the ultimate outcome could have a material effect on the financial condition or results of operations of the Company. For a discussion of the material legal proceedings and claims, see Part II, Item 1. “Legal Proceedings.” Below is a summary of some of these material proceedings and claims. The Company believes it has substantial defenses to the claims made and intends to vigorously defend these cases. Tax Claims and Proceedings In 2009, the IRS asserted claims against the Company totaling $74.7 million . Pilgrim's entered into two Stipulations of Settled Issues agreements with the IRS (the “Stipulations”) on December 12, 2012 that accounted for approximately $29.3 million of the claims and should result in no additional tax due. The Company is currently working with the IRS to finalize the complete tax calculations associated with the Stipulations. Other Claims and Proceedings Between September 2, 2016 and October 13, 2016, a series of purported federal class action lawsuits styled as In re Broiler Chicken Antitrust Litigation were brought against Pilgrim's and 13 other producers by and on behalf of direct and indirect purchasers of broiler chickens alleging violations of federal and state antitrust and unfair competition laws. The complaints, which were filed with the U.S. District Court for the Northern District of Illinois, seek, among other relief, treble damages for an alleged conspiracy among defendants to reduce output and increase prices of broiler chickens from the period of January 2008 to the present. The plaintiffs have filed three consolidated amended complaints: one on behalf of direct purchasers and two on behalf of distinct groups of indirect purchasers. The defendants (including the Company) moved to dismiss all complaints on January 27, 2017, which are fully briefed and a ruling by the court is pending. On October 10, 2016, Patrick Hogan, acting on behalf of himself and a putative class of persons who purchased shares of Pilgrim’s common stock between February 21, 2014 and October 4, 2016, filed a class action complaint in the U.S. District Court for the District of Colorado against the Company and its named executive officers. The complaint alleges, among other things, that the Company’s SEC filings contained statements that were rendered materially false and misleading by its failure to disclose that (i) Pilgrim's colluded with several of its industry peers to fix prices in the broiler chicken market as alleged in the In re Broiler Chicken Antitrust Litigation , (ii) the Company's conduct constituted a violation of federal antitrust laws, (iii) Pilgrim's revenues during the class period were the result of illegal conduct and (iv) the Company lacked effective internal control over financial reporting, as well as stating that Pilgrim's industry was anticompetitive. On April 4, 2017, the court appointed another stockholder, George James Fuller, as lead plaintiff. On April 26, 2017, the court set a briefing schedule for the filing of an amended complaint and the defendants' motion to dismiss. On May 11, 2017, the plaintiff filed an amended complaint, which extended the end date of the putative class period to November 17, 2016. The defendants moved to dismiss on June 12, 2017, and the plaintiff filed its Opposition on July 12, 2017. The defendants replied on August 1, 2017. On January 27, 2017, a purported class action on behalf of broiler chicken farmers was brought against Pilgrim's and four other producers in the Eastern District of Oklahoma, alleging, among other things, a conspiracy to reduce competition for grower services and depress the price paid to growers. Plaintiffs allege violations of the Sherman Act and the Packers and Stockyards Act and seek, among other relief, treble damages. The complaint was consolidated with a subsequently filed class action complaint styled as In re Broiler Chicken Antitrust Litigation. Answers or responses to the consolidated amended complaint are due on September 8, 2017. On March 9, 2017, a stockholder derivative action styled as DiSalvio v. Lovette, et al. , No. 2017 cv. 30207, was brought against all of the Company's directors and its Chief Financial Officer, Fabio Sandri, in the District Court for the County of Weld in Colorado. The complaint alleges, among other things, that the named defendants breached their fiduciary duties by failing to prevent the Company and its officers from engaging in an antitrust conspiracy as alleged in the In re Broiler Chicken Antitrust Litigation , and issuing false and misleading statements as alleged in the Hogan class action litigation. On April 17, 2017, a related stockholder derivative action styled Brima v. Lovette, et al. , No. 2017 cv. 30308, was brought against all of the Company's directors and its Chief Financial Officer in the District Court for the County of Weld in Colorado. The Brima complaint contains largely the same allegations as the DiSalvio complaint. On May 4, 2017, the plaintiffs in both the DiSalvio and Brima actions moved to (i) consolidate the two stockholder derivative cases, (ii) stay the consolidated action until the resolution of the motion to dismiss in the Hogan putative securities class action, and (iii) appoint co-lead counsel. The court granted the motion on May 8, 2017, staying the proceedings pending resolution of the motion to dismiss in the Hogan action. A status conference has been scheduled for August 28, 2017. The Company believes it has strong defenses in each of the above litigations and intends to contest them vigorously. The Company cannot predict the outcome of these actions nor when they will be resolved. If the plaintiffs were to prevail in any of these litigations, the Company could be liable for damages, which could be material and could adversely affect its financial condition or results of operations. J&F Investigation J&F Investimentos S.A. (“J&F”), an indirect controlling stockholder of the Company, is conducting an internal investigation involving improper payments made in Brazil by J&F, certain companies controlled by J&F, and certain officers of J&F (including two former directors of the Company), as previously announced in connection with leniency agreements entered into by J&F and those individuals with Brazilian authorities. J&F has engaged outside advisors to assist it in conducting the investigation, including an assessment as to whether any of the misconduct disclosed to Brazilian authorities had any connection to the Company, or resulted in a violation of US law. The internal investigation is ongoing and the Company is fully cooperating with J&F in connection with the investigation. We cannot predict when the investigation will be completed or the results of the Investigation, including the outcome or impact of any government investigations or any resulting litigation.

DESCRIPTION OF BUSINESS AND B24

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated Financial Statements	Consolidated Financial Statements The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments unless otherwise disclosed) considered necessary for a fair presentation have been included. Operating results for the twenty-six weeks ended weeks ended June 25, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 25, 2016 . Pilgrim’s operates on a 52/53-week fiscal year that ends on the Sunday falling on or before December 31. The reader should assume any reference we make to a particular year (for example, 2017 ) in the notes to these Condensed Consolidated Financial Statements applies to our fiscal year and not the calendar year. The Condensed Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. We eliminate all significant affiliate accounts and transactions upon consolidation.
Foreign Currency Transactions and Translations	The Company measures the financial statements of its Mexico subsidiaries as if the U.S. dollar were the functional currency. Accordingly, we remeasure assets and liabilities, other than non-monetary assets, of the Mexico subsidiaries at current exchange rates. We remeasure non-monetary assets using the historical exchange rate in effect on the date of each asset’s acquisition. We remeasure income and expenses at average exchange rates in effect during the period. Currency exchange gains or losses are included in the line item Foreign currency transaction loss in the Condensed Consolidated Statements of Income.
Reportable Segment	Reportable Segment We operate in one reportable business segment, as a producer and seller of chicken products we either produce or purchase for resale.
Revenue Recognition	Revenue Recognition We recognize revenue when all of the following circumstances are satisfied: (i) persuasive evidence of an arrangement exists, (ii) price is fixed or determinable, (iii) collectability is reasonably assured and (iv) delivery has occurred. Delivery occurs in the period in which the customer takes title and assumes the risks and rewards of ownership of the products specified in the customer’s purchase order or sales agreement. Revenue is recorded net of estimated incentive offerings including special pricing agreements, promotions and other volume-based incentives. Revisions to these estimates are charged back to net sales in the period in which the facts that give rise to the revision become known.
Book Overdraft	Book Overdraft The majority of the Company’s disbursement bank accounts are zero balance accounts where cash needs are funded as checks are presented for payment by the holder. Checks issued pending clearance that result in overdraft balances for accounting purposes are classified as accounts payable and the change in the related balance is reflected in operating activities on the Condensed Consolidated Statements of Cash Flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. In June 2015, the FASB agreed to defer by one year the mandatory effective date of this standard, but will also provide entities the option to adopt the new guidance as of the original effective date. The provisions of the new guidance will be effective as of the beginning of our 2018 fiscal year, but we had the option to adopt the guidance as early as the beginning of our 2017 fiscal year. We have elected to adopt this standard as of January 1, 2018, the beginning of our 2018 fiscal year, using the modified retrospective approach. We are currently assessing our contracts with customers and evaluating the impact of the new guidance on these contracts. Although we are still evaluating the impact, we do not currently expect the new guidance to have a material impact on our financial statements beyond additional disclosure requirements. In July 2015, the FASB issued new accounting guidance on the subsequent measurement of inventory, which, in an effort to simplify unnecessarily complicated accounting guidance that can result in several potential outcomes, requires an entity to measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Current accounting guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The provisions of the new guidance were effective as of the beginning of our 2017 fiscal year. The initial adoption of this guidance did not have a material impact on our financial statements. In February 2016, the FASB issued new accounting guidance on lease arrangements, which, in an effort to increase transparency and comparability among organizations utilizing leasing, requires an entity that is a lessee to recognize the assets and liabilities arising from leases on the balance sheet. This guidance also requires disclosures about the amount, timing and uncertainty of cash flows arising from leases. In transition, the entity is required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The provisions of the new guidance will be effective as of the beginning of our 2019 fiscal year. Early adoption is permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date. In March 2016, the FASB issued new accounting guidance on employee share-based payments, which, in an effort to simplify unnecessarily complicated aspects of accounting and reporting for share-based payment transactions, requires an entity to amend accounting and reporting methodology for areas such as the income tax consequences of share-based payments, classification of share-based awards as either equity or liabilities, and classification of share-based payment transactions in the statement of cash flows. The transition approach will vary depending on the area of accounting and reporting methodology to be amended. The Company adopted this standard on December 26, 2016, the beginning of our 2017 fiscal year, and will prospectively present excess tax benefits or deficiencies in the income statement as a component of "Provision for income taxes" rather than in the "Equity" section of the Balance Sheet. As part of the adoption, the Company did not have a cumulative-effect adjustment, as there were no previous unrecognized excess tax benefits that would impact retained earnings. As a result, there was no retrospective adjustment to the prior period statement of cash flows of excess tax benefits as an operating activity rather than a financing activity. In June 2016, the FASB issued new accounting guidance on the measurement of credit losses on financial instruments, which, in an effort to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance sheet credit exposures, reinsurance receivables and any other financial assets not excluded from the scope that have the contractual right to receive cash. The provisions of the new guidance will be effective as of the beginning of our 2020 fiscal year. Early adoption is permitted after our 2018 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date. In November 2016, the FASB issued new accounting guidance on the classification and presentation of restricted cash in the statement of cash flows in order to eliminate the diversity that currently exists in how companies present these changes. The new guidance requires restricted cash to be included with cash and cash equivalents when explaining the changes in cash in the statement of cash flows. We elected to early adopt this guidance as of December 26, 2016, the beginning of our 2017 fiscal year. An entity should apply the new guidance on a retrospective basis, wherein the statement of cash flow of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. Upon transition, an entity is required to comply with the applicable disclosures for a change in an accounting principle. These disclosures include the nature of and reason for the change in accounting principle, the transition method, a description of the prior-period information that has been retrospectively adjusted and the effect of the change on the financial statement line items. A description of the prior-period information that has been retrospectively adjusted and the effect of the change on the statement of cash flow line items is not disclosed as it is not material. In March 2017, the FASB issued new accounting guidance on the presentation of net periodic pension cost and net periodic postretirement benefit cost, which, in an effort to improve consistency and transparency, requires the service cost component of defined benefit pension cost and postretirement benefit cost (“net benefit cost”) to be reported in the same line of the income statement as other compensation costs earned by the employee and the other components of net benefit cost to be reported below income from operations. The new guidance will be effective as of the beginning of our 2019 fiscal year with early adoption permitted. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected an adoption date.

DESCRIPTION OF BUSINESS AND B25

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Tables)	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table reconciles cash, cash equivalents and restricted cash as reported in the Condensed Consolidated Balance Sheets to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows: June 25, 2017 December 25, 2016 (In thousands) Cash and cash equivalents $ 303,937 $ 120,328 Restricted cash 20,348 4,979 Total cash, cash equivalents and restricted cash shown in the $ 324,285 $ 125,307
Schedule of Restricted Cash and Cash Equivalents	The following table reconciles cash, cash equivalents and restricted cash as reported in the Condensed Consolidated Balance Sheets to the total of the same amounts shown in the Condensed Consolidated Statements of Cash Flows: June 25, 2017 December 25, 2016 (In thousands) Cash and cash equivalents $ 303,937 $ 120,328 Restricted cash 20,348 4,979 Total cash, cash equivalents and restricted cash shown in the $ 324,285 $ 125,307

BUSINESS ACQUISITION (Tables)

BUSINESS ACQUISITION (Tables)	6 Months Ended
	Jun. 25, 2017
Business Combinations [Abstract]
Schedule of Business Acquisitions, Consideration Paid	The following table summarizes the consideration paid for GNP (in thousands): Negotiated sales price $ 350,000 Working capital adjustment 7,252 Preliminary purchase price $ 357,252
Schedule of Business Acquisitions, Fair Values of Assets Acquired and Liabilities Assumed	The fair values recorded for the assets acquired and liabilities assumed for GNP are as follows (in thousands): Cash and cash equivalents $ 10 Trade accounts and other receivables 18,453 Inventories 56,459 Prepaid expenses and other current assets 3,414 Property, plant and equipment 144,138 Identifiable intangible assets 123,220 Other long-lived assets 829 Total assets acquired 346,523 Accounts payable 23,848 Other current liabilities 11,866 Other long-term liabilities 3,393 Total liabilities assumed 39,107 Total identifiable net assets 307,416 Goodwill 49,836 Total net assets $ 357,252
Fair Values and Useful Lives of Intangible Assets Acquired	The following table presents the fair values and useful lives, where applicable, of these assets: Fair Value Useful Life (In thousands) (In years) Customer relationships $ 85,000 13.0 Trade names 38,200 20.0 Non-compete agreement 20 3.0 Total fair value $ 123,220 Weighted average useful life 15.2
Schedule of Business Acquisitions, Goodwill	The Company recognized the following change in goodwill due to this acquisition during the twenty-six weeks ended June 25, 2017 (in thousands): Balance, beginning of period $ 125,607 Preliminary purchase price attributed to goodwill 49,836 Balance, end of period $ 175,443
Schedule of Business Acquisitions, Pro Forma Information	The following unaudited pro forma information presents the combined financial results for the Company and GNP as if the acquisition had been completed at the beginning of the Company’s prior year, December 28, 2015. Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended (In thousands, except per share amount) Net sales $ 4,277,896 $ 4,209,015 Net income attributable to Pilgrim's Pride Corporation 325,179 266,341 Net income attributable to Pilgrim's Pride Corporation 1.31 1.04

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 25, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on a Recurring Basis	The following items were measured at fair value on a recurring basis: June 25, 2017 Level 1 Total (In thousands) Fair value assets: Commodity futures instruments $ 3,855 $ 3,855 Commodity options instruments 9 9 Fair value liabilities: Commodity futures instruments (8,717 ) (8,717 ) Commodity options instruments (3,019 ) (3,019 ) Foreign currency instruments (186 ) (186 ) December 25, 2016 Level 1 Total (In thousands) Fair value assets: Commodity futures instruments $ 5,341 $ 5,341 Commodity options instruments 98 98 Fair value liabilities: Commodity futures instruments (4,063 ) (4,063 ) Commodity option instruments (2,764 ) (2,764 )
Schedule of Fair Value and Carrying Value of Debt Obligations	Fair value and carrying value for our fixed-rate debt obligation is as follows: June 25, 2017 December 25, 2016 Carrying Fair Carrying Fair (In thousands) Fixed-rate senior notes payable at 5.75%, at Level 1 inputs $ (500,000 ) $ (504,005 ) $ (500,000 ) $ (503,395 )

TRADE ACCOUNTS AND OTHER RECE28

TRADE ACCOUNTS AND OTHER RECEIVABLES (Tables)	6 Months Ended
	Jun. 25, 2017
Accounts Receivable, Net [Abstract]
Schedule of Trade Accounts and Other Receivables, and Allowance for Doubtful Accounts	Trade accounts and other receivables, less allowance for doubtful accounts, consisted of the following: June 25, 2017 December 25, 2016 (In thousands) Trade accounts receivable $ 394,219 $ 305,337 Notes receivable - current 630 630 Other receivables 17,041 15,766 Receivables, gross 411,890 321,733 Allowance for doubtful accounts (5,304 ) (4,563 ) Receivables, net $ 406,586 $ 317,170 Account receivable from related parties (a) $ 4,050 $ 3,913 (a) Additional information regarding accounts receivable from related parties is included in “Note 15. Related Party Transactions.” Activity in the allowance for doubtful accounts for the twenty-six weeks ended June 25, 2017 was as follows (in thousands): Balance, beginning of period $ (4,563 ) Provision charged to operating results (771 ) Account write-offs and recoveries 374 GNP acquisition (17 ) Effect of exchange rate (327 ) Balance, end of period $ (5,304 )

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 25, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: June 25, 2017 December 25, 2016 (In thousands) Live chicken and hens $ 411,445 $ 362,054 Feed, eggs and other 274,785 250,680 Finished chicken products 276,749 182,918 Total chicken inventories 962,979 795,652 Commercial feed and other 4,598 17,610 Total inventories $ 967,577 $ 813,262

INVESTMENTS IN SECURITIES (Tabl

INVESTMENTS IN SECURITIES (Tables)	6 Months Ended
	Jun. 25, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-For-Sale Securities	The following table summarizes our investments in available-for-sale securities: June 25, 2017 December 25, 2016 Amortized Cost Fair Amortized Cost Fair (In thousands) Cash equivalents: Fixed income securities $ 85,849 $ 85,849 $ 44,865 $ 44,865 Other 62 62 61 61

DERIVATIVE FINANCIAL INSTRUME31

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 25, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivative Instruments and Cash Collateral	Information regarding the Company’s outstanding derivative instruments and cash collateral posted with (owed to) brokers is included in the following table: June 25, 2017 December 25, 2016 (Fair values in thousands) Fair values: Commodity derivative assets $ 3,864 $ 5,439 Commodity derivative liabilities (11,736 ) (6,827 ) Foreign currency derivative liabilities (186 ) — Cash collateral posted with brokers 20,348 4,979 Derivatives coverage (a) : Corn 2.0 % 2.3 % Soybean meal 12.0 % 0.3 % Period through which stated percent of needs are covered: Corn September 2018 September 2018 Soybean meal January 2018 July 2017 (a) Derivatives coverage is the percent of anticipated commodity needs covered by outstanding derivative instruments through a specified date.

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 25, 2017
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment (“PP&E”), net consisted of the following: June 25, 2017 December 25, 2016 (In thousands) Land $ 164,157 $ 112,132 Buildings 1,256,981 1,169,984 Machinery and equipment 1,888,854 1,789,550 Autos and trucks 47,840 50,964 Construction-in-progress 268,175 231,874 PP&E, gross 3,626,007 3,354,504 Accumulated depreciation (1,904,059 ) (1,848,564 ) PP&E, net $ 1,721,948 $ 1,505,940

CURRENT LIABILITIES (Tables)

CURRENT LIABILITIES (Tables)	6 Months Ended
	Jun. 25, 2017
Payables and Accruals [Abstract]
Schedule of Current Liabilities	Current liabilities, other than current notes payable to banks, income taxes and current maturities of long-term debt, consisted of the following components: June 25, 2017 December 25, 2016 (In thousands) Accounts payable: Trade accounts $ 457,952 $ 487,214 Book overdrafts 46,964 63,577 Other payables 14,904 4,306 Total accounts payable 519,820 555,097 Accounts payable to related parties (a) 3,622 1,421 Accrued expenses and other current liabilities: Compensation and benefits 107,631 110,385 Interest and debt-related fees 10,934 8,685 Insurance and self-insured claims 77,540 82,544 Derivative liabilities: Futures 8,717 4,063 Options 3,019 2,764 Foreign currency 186 — Other accrued expenses 116,700 82,258 Total accrued expenses and other current liabilities 324,727 290,699 $ 848,169 $ 847,217 (a) Additional information regarding accounts payable from related parties is included in “Note 15. Related Party Transactions.”

LONG-TERM DEBT AND OTHER BORR34

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Tables)	6 Months Ended
	Jun. 25, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt and Other Borrowing Arrangements	Long-term debt and other borrowing arrangements, including current notes payable to banks, consisted of the following components: Maturity June 25, 2017 December 25, 2016 (In thousands) Long-term debt and other long-term borrowing arrangements: Senior notes payable at 5.75% 2025 $ 500,000 $ 500,000 U.S. Credit Facility (defined below): Term note payable at 4.75% 2022 800,000 500,000 Revolving note payable at 4.56% 2022 73,262 — Mexico Credit Facility (defined below) with notes payable at 2019 83,328 23,304 Capital lease obligations Various 330 376 Long-term debt 1,456,920 1,023,680 Less: Current maturities of long-term debt (40,098 ) (94 ) Long-term debt, less current maturities 1,416,822 1,023,586 Less: Capitalized financing costs (12,558 ) (11,728 ) Long-term debt, less current maturities, net of capitalized financing costs: $ 1,404,264 $ 1,011,858

PENSION AND OTHER POSTRETIREM35

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 25, 2017
Defined Benefit Plan [Abstract]
Schedule of Defined Benefit Plan Obligations and Assets	The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Condensed Consolidated Balance Sheets for these defined benefit plans were as follows: Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits Change in projected benefit obligation: (In thousands) Projected benefit obligation, beginning of period $ 167,159 $ 1,648 $ 165,952 $ 1,672 Interest cost 2,786 25 2,793 26 Actuarial losses (gains) 8,885 101 12,736 72 Benefits paid (4,430 ) (74 ) (4,581 ) (70 ) Projected benefit obligation, end of period $ 174,400 $ 1,700 $ 176,900 $ 1,700 Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits Change in plan assets: (In thousands) Fair value of plan assets, beginning of period $ 97,526 $ — $ 96,947 $ — Actual return on plan assets 7,142 — 1,084 — Contributions by employer 4,502 74 4,412 70 Benefits paid (4,430 ) (74 ) (4,581 ) (70 ) Fair value of plan assets, end of period $ 104,740 $ — $ 97,862 $ — June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Funded status: (In thousands) Unfunded benefit obligation, end of period $ (69,660 ) $ (1,700 ) $ (69,633 ) $ (1,648 ) June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Amounts recognized in the Condensed Consolidated Balance Sheets at end of period: (In thousands) Current liability $ (13,103 ) $ (147 ) $ (13,113 ) $ (147 ) Long-term liability (56,557 ) (1,553 ) (56,520 ) (1,501 ) Recognized liability $ (69,660 ) $ (1,700 ) $ (69,633 ) $ (1,648 ) June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Amounts recognized in accumulated other comprehensive loss at end of period: (In thousands) Net actuarial loss (gain) $ 50,398 $ 70 $ 46,494 $ (31 )
Schedule of Net Defined Benefit Pension and Other Postretirement Costs	Net defined benefit pension and other postretirement costs included the following components: Thirteen Weeks Ended Thirteen Weeks Ended Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended June 26, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Interest cost $ 1,393 $ 12 $ 1,397 $ 14 $ 2,786 $ 25 $ 2,793 $ 26 Estimated return on plan assets (1,313 ) — (1,314 ) — (2,626 ) — (2,628 ) — Amortization of net loss 233 — 164 — 466 — 329 — Net costs $ 313 $ 12 $ 247 $ 14 $ 626 $ 25 $ 494 $ 26
Schedule of Economic Assumptions, and Impact of Change in Discount Rate on Benefit Obligation	The sensitivity of the projected benefit obligation for pension benefits to changes in the discount rate is set out below. The impact of a change in the discount rate of 0.25% on the projected benefit obligation for other benefits is less than $1,000 . This sensitivity analysis is based on changing one assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to variations in significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as for calculating the liability recognized in the Condensed Consolidated Balance Sheet. Increase in Discount Rate of 0.25% Decrease in Discount Rate of 0.25% (In thousands) Impact on projected benefit obligation for pension benefits $ (4,819 ) $ 5,123 The weighted average assumptions used in determining pension and other postretirement plan information were as follows: June 25, 2017 December 25, 2016 Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure benefit obligation at end of period: Discount rate 3.88 % 3.41 % 4.31 % 3.81 % Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits Assumptions used to measure net pension and other postretirement cost: Discount rate 4.31 % 3.81 % 4.47 % 4.47 % Expected return on plan assets 5.50 % NA 5.50 % NA
Schedule of Plan Asset Allocations	The following table reflects the pension plans’ actual asset allocations: June 25, 2017 December 25, 2016 Cash and cash equivalents — % — % Pooled separate accounts (a) : Equity securities 5 % 5 % Fixed income securities 5 % 5 % Common collective trust funds (a) : Equity securities 60 % 60 % Fixed income securities 30 % 30 % Total assets 100 % 100 % (a) Pooled separate accounts (“PSAs”) and common collective trust funds (“CCTs”) are two of the most common types of alternative vehicles in which benefit plans invest. These investments are pooled funds that look like mutual funds, but they are not registered with the SEC. Often times, they will be invested in mutual funds or other marketable securities, but the unit price generally will be different from the value of the underlying securities because the fund may also hold cash for liquidity purposes, and the fees imposed by the fund are deducted from the fund value rather than charged separately to investors. Some PSAs and CCTs have no restrictions as to their investment strategy and can invest in riskier investments, such as derivatives, hedge funds, private equity funds, or similar investments.
Schedule of Fair Value Measurements of Plan Assets	The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of June 25, 2017 and December 25, 2016 : June 25, 2017 December 25, 2016 Level 1 (a) Level 2 (b) Level 3 (c) Total Level 1 (a) Level 2 (b) Level 3 (c) Total (In thousands) Cash and cash equivalents $ 127 $ — $ — $ 127 $ 119 $ — $ — $ 119 Pooled separate accounts: Large U.S. equity funds (d) — 3,583 — 3,583 — 3,302 — 3,302 Small/Mid U.S. equity funds (e) — 419 — 419 — 406 — 406 International equity funds (f) — 1,419 — 1,419 — 1,231 — 1,231 Fixed income funds (g) — 4,749 — 4,749 — 4,867 — 4,867 Common collective trusts funds: Large U.S. equity funds (d) — 25,699 — 25,699 — 24,547 — 24,547 Small U.S. equity funds (e) — 18,489 — 18,489 — 17,344 — 17,344 International equity funds (f) — 18,581 — 18,581 — 17,006 — 17,006 Fixed income funds (g) — 31,674 — 31,674 — 28,704 — 28,704 Total assets $ 127 $ 104,613 $ — $ 104,740 $ 119 $ 97,407 $ — $ 97,526 (a) Unadjusted quoted prices in active markets for identical assets are used to determine fair value. (b) Quoted prices in active markets for similar assets and inputs that are observable for the asset are used to determine fair value. (c) Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value. (d) This category is comprised of investment options that invest in stocks, or shares of ownership, in large, well-established U.S. companies. These investment options typically carry more risk than fixed income options but have the potential for higher returns over longer time periods. (e) This category is generally comprised of investment options that invest in stocks, or shares of ownership, in small to medium-sized U.S. companies. These investment options typically carry more risk than larger U.S. equity investment options but have the potential for higher returns. (f) This category is comprised of investment options that invest in stocks, or shares of ownership, in companies with their principal place of business or office outside of the U.S. (g) This category is comprised of investment options that invest in bonds, or debt of a company or government entity (including U.S. and non-U.S. entities). It may also include real estate investment options that directly own property. These investment options typically carry more risk than short-term fixed income investment options (including, for real estate investment options, liquidity risk), but less overall risk than equities.
Schedule of Benefit Payments	The following table reflects the benefits as of June 25, 2017 expected to be paid through 2026 from our pension and other postretirement plans. Because our pension plans are primarily funded plans, the anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. Because our other postretirement plans are unfunded, the anticipated benefits with respect to these plans will come from our own assets. Pension Benefits Other Benefits (In thousands) 2017 (remaining) $ 8,482 $ 73 2018 11,617 147 2019 11,088 146 2020 11,019 144 2021 10,790 142 2022-2026 49,927 640 Total $ 102,923 $ 1,292
Schedule of Unrecognized Benefit Amounts	The amounts in accumulated other comprehensive loss that were not recognized as components of net periodic benefits cost and the changes in those amounts are as follows: Twenty-Six Weeks Ended Twenty-Six Weeks Ended Pension Benefits Other Benefits Pension Benefits Other Benefits (In thousands) Net actuarial loss (gain), beginning of period $ 46,494 $ (31 ) $ 38,115 $ (79 ) Amortization (466 ) — (329 ) — Curtailment and settlement adjustments — — — — Actuarial loss (gain) 8,885 101 12,736 72 Asset loss (gain) (4,515 ) — 1,543 — Net actuarial loss (gain), end of period $ 50,398 $ 70 $ 52,065 $ (7 )

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 25, 2017
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The following tables provide information regarding the changes in accumulated other comprehensive loss: Twenty-Six Weeks Ended June 25, 2017 (a) Twenty-Six Weeks Ended June 26, 2016 (a) Losses Related to Pension and Other Postretirement Benefits Unrealized Holding Gains on Available-for-Sale Securities Total Losses Related to Pension and Other Postretirement Benefits Unrealized Holding Gains on Available-for-Sale Securities Total (In thousands) Balance, beginning of period $ (64,243 ) $ — $ (64,243 ) $ (58,997 ) $ 67 $ (58,930 ) Other comprehensive income (loss) before reclassifications (2,782 ) — (2,782 ) (8,934 ) 265 (8,669 ) Amounts reclassified from accumulated other comprehensive loss to net income 290 — 290 205 (332 ) (127 ) Net current period other comprehensive loss (2,492 ) — (2,492 ) (8,729 ) (67 ) (8,796 ) Balance, end of period $ (66,735 ) $ — $ (66,735 ) $ (67,726 ) $ — $ (67,726 ) (a) All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss.
Schedule of Reclassification from Accumulated Other Comprehensive Loss	Amounts Reclassified from Accumulated Other Comprehensive Loss (a) Details about Accumulated Other Comprehensive Loss Components Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended June 26, 2016 Affected Line Item in the Condensed Consolidated Statements of Operations (In thousands) Realized gain on sale of securities $ — $ 534 Interest income Amortization of defined benefit pension and other postretirement plan actuarial losses: Union employees pension plan (b)(d) (12 ) (10 ) Cost of sales Legacy Gold Kist plans (c)(d) (142 ) (100 ) Cost of sales Legacy Gold Kist plans (c)(d) (312 ) (220 ) Selling, general and administrative expense Total before tax (466 ) 204 Tax benefit (expense) 176 (77 ) Total reclassification for the period $ (290 ) $ 127 (a) Amounts in parentheses represent debits to results of operations. (b) The Company sponsors the Pilgrim’s Pride Retirement Plan for Union Employees, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements. (c) The Company sponsors the Pilgrim’s Pride Plan for Legacy Gold Kist Employees, a qualified defined benefit pension plan covering certain eligible U.S. employees who were employed at locations that the Company purchased through its acquisition of Gold Kist in 2007, the Former Gold Kist Inc. Supplemental Executive Retirement Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist executives, the Former Gold Kist Inc. Directors’ Emeriti Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist directors, and the Gold Kist Inc. Retiree Life Insurance Plan, a defined benefit postretirement life insurance plan covering certain retired Gold Kist employees. (d) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See “Note 12. Pension and Other Postretirement Benefits” to the Condensed Consolidated Financial Statements.

INCENTIVE COMPENSATION (Tables)

INCENTIVE COMPENSATION (Tables)	6 Months Ended
	Jun. 25, 2017
INCENTIVE COMPENSATION [Abstract]
Schedule of Awards	The following awards were outstanding during the twenty-six weeks ended June 25, 2017 : Award Type Benefit Plan Awards Granted Grant Date Grant Date Fair Value per Award (a) Vesting Condition Vesting Date Vesting Date Fair Value per Award (a) Estimated Forfeiture Rate Awards Forfeited to Date Settlement Method RSU LTIP 449,217 02/19/2014 $ 16.70 Service 12/31/2016 $ 18.99 13.49 % 86,458 Stock RSU LTIP 223,701 03/03/2014 17.18 Performance / Service 12/31/2017 12.34 % 55,516 Stock RSU (b) LTIP 45,961 02/11/2015 25.87 Service 12/31/2017 18.99 12.34 % — Stock RSU LTIP 251,136 03/30/2016 25.36 Performance / Service 12/31/2019 18.99 (d) 251,136 Stock RSU (b) LTIP 74,536 10/13/2016 20.93 Service 12/31/2016 — % — Stock RSU LTIP 389,424 01/19/2017 18.39 Performance / Service (e) — % — Stock RSU (c) LTIP 48,586 02/13/2017 20.52 Service 2/13/2017 — % — Stock RSU (c) LTIP 23,469 02/13/2017 20.52 Service 12/31/2017 — % — Stock (a) The fair value of each RSU granted or vested represents the closing price of the Company's common stock on the respective grant date or vesting date. (b) On February 17, 2015, the Company paid a special cash dividend to stockholders of record as of January 30, 2015 totaling $5.77 per share. On January 27, 2015, the Compensation Committee of the Company's Board of Directors agreed to grant additional RSUs to LTIP participants that were equal to the amount of the dividend that would be awarded to them had their RSUs existing as of the dividend record date been vested. The additional RSUs that were granted to the LTIP participants are subject to the same vesting requirements as the underlying RSUs granted under the LTIP. (c) On May 18, 2016, the Company paid a special cash dividend to stockholders of record as of May 10, 2015 totaling $2.75 per share. On October 27, 2016, the Compensation Committee of the Company's Board of Directors agreed to grant additional RSUs to LTIP participants that were equal to the amount of the dividend that would be awarded to them had their RSUs existing as of the dividend record date been vested. The additional RSUs that were granted to the LTIP participants are subject to the same vesting requirements as the underlying RSUs granted under the LTIP. (d) Performance conditions associated with these awards were not satisfied. Therefore, 100% of the awards were forfeited during the twenty-six weeks ended June 25, 2017 . (e) The subject RSUs will vest in ratable tranches on December 31, 2018, December 31, 2019, and December 31, 2020.
Schedule of Compensation Cost and Income Tax Benefit	Compensation costs and the income tax benefit recognized for our share-based compensation arrangements are included below: Thirteen Weeks Ended Twenty-Six Weeks Ended June 25, 2017 June 26, 2016 June 25, 2017 June 26, 2016 (In thousands) Share-based compensation cost: Cost of sales $ 38 $ 162 $ 187 $ 261 Selling, general and administrative expense 449 827 1,760 1,608 Total $ 487 $ 989 $ 1,947 $ 1,869 Income tax benefit $ 184 $ 293 $ 601 $ 550
Schedule of Restricted Share and Restricted Stock Unit Activity	The Company’s RSU activity is included below: Twenty-Six Weeks Ended June 25, 2017 Twenty-Six Weeks Ended June 26, 2016 Number Weighted Average Grant Date Fair Value Number Weighted Average Grant Date Fair Value (In thousands, except weighted average fair values) Outstanding at beginning of period 906 $ 20.00 774 $ 18.78 Granted 462 18.72 251 25.36 Vested (486 ) 17.73 — — Forfeited (251 ) 25.36 (193 ) 24.51 Outstanding at end of period 631 $ 18.68 832 $ 19.44

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 25, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Pilgrim’s has been and, in some cases, continues to be a party to certain transactions with affiliated companies. Thirteen Weeks Ended Twenty-Six Weeks Ended June 25, 2017 June 26, 2016 June 25, 2017 June 26, 2016 (In thousands) JBS USA Food Company Holdings : Letter of credit fees (a) $ — $ — $ — $ 202 JBS USA Food Company: Purchases from JBS USA Food Company (b) 24,994 26,377 52,283 46,888 Expenditures paid by JBS USA Food Company on behalf of Pilgrim’s Pride Corporation (c) 7,349 8,722 18,298 16,326 Sales to JBS USA Food Company (b) 4,833 4,114 9,396 7,416 Expenditures paid by Pilgrim’s Pride Corporation on behalf of JBS USA Food Company (c) 1,595 1,725 2,460 8,688 JBS Chile Ltda.: Sales to JBS Chile Ltda. — 107 — 312 JBS Global (UK) Ltd.: Sales to JBS Global (UK) Ltd. — — 19 122 JBS Five Rivers: Sales to JBS Five Rivers (d) 9,394 — 16,516 — J&F Investimentos Ltd.: Sales to J&F Investimentos Ltd. — — 104 — JBS Seara: Sales to JBS Seara 80 — 80 — (a) JBS USA Food Company Holdings (“JBS USA Holdings”) arranged for letters of credit to be issued on its account in the aggregate amount of $56.5 million to an insurance company on behalf of the Company in order to allow that insurance company to return cash it held as collateral against potential workers’ compensation, auto liability and general liability claims. In return for providing this letter of credit, the Company has agreed to reimburse JBS USA Holdings for the letter of credit fees the Company would otherwise incur under its U.S. Credit Facility. The letter of credit arrangements for $40.0 million and $16.5 million were terminated on March 7, 2016 and April 1, 2016, respectively. For the twenty-six weeks ended June 26, 2016, the Company paid JBS USA Holdings $ 0.2 million for letter of credit fees. (b) We routinely execute transactions to both purchase products from JBS USA Food Company (“JBS USA”) and sell products to them. As of June 25, 2017 and December 25, 2016, the outstanding payable to JBS USA was $3.6 million and $1.4 million , respectively. As of June 25, 2017 and December 25, 2016, the outstanding receivable from JBS USA was $2.1 million and $3.8 million , respectively. As of June 25, 2017 , approximately $ 1.1 million of goods from JBS USA were in transit and not reflected on our Condensed Consolidated Balance Sheet. (c) The Company has an agreement with JBS USA to allocate costs associated with JBS USA’s procurement of SAP licenses and maintenance services for its combined companies. Under this agreement, the fees associated with procuring SAP licenses and maintenance services are allocated between the Company and JBS USA in proportion to the percentage of licenses used by each company. The agreement expires on the date of expiration, or earlier termination, of the underlying SAP license agreement. The Company also has an agreement with JBS USA to allocate the costs of supporting the business operations by one consolidated corporate team, which have historically been supported by their respective corporate teams. Expenditures paid by JBS USA on behalf of the Company will be reimbursed by the Company and expenditures paid by the Company on behalf of JBS USA will be reimbursed by JBS USA. This agreement expires on December 31, 2019. (d) The outstanding receivable from JBS Five Rivers at June 25, 2017 was $1.9 million . There was no outstanding receivable from JBS Five Rivers at December 25, 2016.

DESCRIPTION OF BUSINESS AND B39

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Additional Information (Details) employee in Thousands, bird / WK in Millions, lb in Billions	6 Months Ended
	Jun. 25, 2017employeebird / WKsegmentgrowercountrystatelb
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which entity exports products | country	80
Number of states in which entity operates | state	14
Number of employees | employee	42
Maximum processing capacity of employees per week (in birds per week) (more than) | bird / WK	39.2
Maximum annual processing capacity of employees (in pounds) (more than) | lb	11.5
Number of contract growers | grower	4,400
Percentage of beneficial ownership by holding company	78.60%
Number of reportable segments | segment	1

DESCRIPTION OF BUSINESS AND B40

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016	Jun. 26, 2016	Dec. 27, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 303,937	$ 120,328
Restricted cash	20,348	4,979
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	$ 324,285	$ 125,307	$ 41,047	$ 439,638

BUSINESS ACQUISITION (Narrative

BUSINESS ACQUISITION (Narrative) (Details) $ in Thousands, bird / WK in Millions	Jan. 06, 2017USD ($)employeebird / WKtrade_nameplant	Jun. 25, 2017USD ($)employeebird / WK	Jun. 26, 2016USD ($)	Jun. 25, 2017USD ($)employeebird / WK	Jun. 26, 2016USD ($)
Business Acquisition [Line Items]
Maximum processing capacity of employees per week (in birds per week) | bird / WK		39.2		39.2
Number of employees of acquiree | employee		42,000		42,000
Administrative restructuring charges		$ 4,349	$ 0	$ 4,349	$ 0
Restructuring, GNP Acquisition
Business Acquisition [Line Items]
Administrative restructuring charges		700		100
Additional restructuring charges expected during 2017		1,800		1,800
GNP
Business Acquisition [Line Items]
Percentage of equity acquired	100.00%
Maximum processing capacity of employees per week (in birds per week) | bird / WK	2.1
Number of processing plants acquired | plant	3
Number of employees of acquiree | employee	1,750
Purchase price, amount payable	$ 2,500
Transaction costs	$ 500
Net sales of acquiree since acquisition date		115,900		213,700
Net income of acquiree since acquisition date		$ 10,200		$ 14,800
GNP | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, net sales growth rate used in determination of fair value	2.50%
Finite-lived intangible assets acquired, customer attrition rate used in determination of fair value	4.00%
Finite-lived intangible assets acquired, income tax rate used in determination of fair value	39.30%
Finite-lived intangible assets acquired, income tax amortization benefit factor used in determination of fair value	1.2098
Finite-lived intangible assets acquired, discount rate used in determination of fair value	13.80%
GNP | Trade names
Business Acquisition [Line Items]
Indefinite-lived trade names acquired, number of trade names valued using the income approach | trade_name	2
Indefinite-lived trade names acquired, royalty rates used in determination of fair value	2.00%
Indefinite-lived trade names acquired, net sales growth rate used in determination of fair values Acquired, Fair Value Inputs, Net Sales Growth Rate	2.50%
Indefinite-lived trade names acquired, income tax rate used in determination of fair value	39.30%
Indefinite-lived trade names acquired, income tax amortization benefit factor used in determination of fair value	1.2098
Indefinite-lived trade names acquired, royalty rate saved used in determination of fair value	13.80%

BUSINESS ACQUISITION (Considera

BUSINESS ACQUISITION (Consideration Paid) (Details) - GNP $ in Thousands	Jan. 06, 2017USD ($)
Business Acquisition [Line Items]
Negotiated sales price	$ 350,000
Working capital adjustment	7,252
Preliminary purchase price	$ 357,252

BUSINESS ACQUISITION (Fair Valu

BUSINESS ACQUISITION (Fair Values of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Jan. 06, 2017	Dec. 25, 2016
Business Acquisition [Line Items]
Goodwill	$ 175,444		$ 125,607
GNP
Business Acquisition [Line Items]
Cash and cash equivalents		$ 10
Trade accounts and other receivables		18,453
Inventories		56,459
Prepaid expenses and other current assets		3,414
Property, plant and equipment		144,138
Identifiable intangible assets		123,220
Other long-lived assets		829
Total assets acquired		346,523
Accounts payable		23,848
Other current liabilities		11,866
Other long-term liabilities		3,393
Total liabilities assumed		39,107
Total identifiable net assets		307,416
Goodwill	$ 175,443	49,836	$ 125,607
Total net assets		$ 357,252

BUSINESS ACQUISITION (Fair Va44

BUSINESS ACQUISITION (Fair Values and Useful Lives of Intangible Assets Acquired) (Details) - GNP $ in Thousands	Jan. 06, 2017USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, fair value	$ 123,220
Assets subject to amortization, weighted average useful life	15 years 2 months 12 days
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, fair value	$ 85,000
Assets subject to amortization, weighted average useful life	13 years
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, fair value	$ 38,200
Assets subject to amortization, weighted average useful life	20 years
Non-compete agreement
Acquired Finite-Lived Intangible Assets [Line Items]
Assets subject to amortization, fair value	$ 20
Assets subject to amortization, weighted average useful life	3 years

BUSINESS ACQUISITION (Changes i

BUSINESS ACQUISITION (Changes in Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 25, 2017USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 125,607
Balance, end of period	175,444
GNP
Goodwill [Roll Forward]
Balance, beginning of period	125,607
Preliminary purchase price attributed to goodwill	49,836
Balance, end of period	$ 175,443

BUSINESS ACQUISITION (Pro Forma

BUSINESS ACQUISITION (Pro Forma Information) (Details) - GNP - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016
Business Acquisition [Line Items]
Net sales	$ 4,277,896	$ 4,209,015
Net income attributable to Pilgrim's Pride Corporation	$ 325,179	$ 266,341
Net income attributable to Pilgrim's Pride Corporation per common share - diluted (in usd per share)	$ 1.31	$ 1.04

FAIR VALUE MEASUREMENTS (Schedu

FAIR VALUE MEASUREMENTS (Schedule of Assets and Liabilities Measured on a Recurring Basis) (Details) - Recurring - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016
Commodity futures instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 3,855	$ 5,341
Derivative liabilities	(8,717)	(4,063)
Commodity options instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9	98
Derivative liabilities	(3,019)	(2,764)
Foreign currency instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(186)
Level 1 | Commodity futures instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	3,855	5,341
Derivative liabilities	(8,717)	(4,063)
Level 1 | Commodity options instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9	98
Derivative liabilities	(3,019)	$ (2,764)
Level 1 | Foreign currency instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ (186)

FAIR VALUE MEASUREMENTS (Sche48

FAIR VALUE MEASUREMENTS (Schedule of Fair Value and Carrying Amount of Debt Obligations) (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016	Mar. 11, 2015
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate senior notes payable	$ (500,000)	$ (500,000)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed-rate senior notes payable	$ (504,005)	$ (503,395)
Senior notes | Senior notes payable at 5.75%
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.75%		5.75%

TRADE ACCOUNTS AND OTHER RECE49

TRADE ACCOUNTS AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2017	Jun. 25, 2017	Dec. 25, 2016
Accounts Receivable, Net [Abstract]
Trade accounts receivable		$ 394,219	$ 305,337
Notes receivable - current		630	630
Other receivables		17,041	15,766
Receivables, gross		411,890	321,733
Allowance for doubtful accounts	$ (4,563)	(5,304)	(4,563)
Receivables, net		406,586	317,170
Account receivable from related parties		$ 4,050	$ 3,913
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance, beginning of period	(4,563)
Provision charged to operating results	(771)
Account write-offs and recoveries	374
GNP acquisition	(17)
Effect of exchange rate	(327)
Balance, end of period	$ (5,304)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016
Inventory [Line Items]
Total inventories	$ 967,577	$ 813,262
Live chicken and hens
Inventory [Line Items]
Total inventories	411,445	362,054
Feed, eggs and other
Inventory [Line Items]
Total inventories	274,785	250,680
Finished chicken products
Inventory [Line Items]
Total inventories	276,749	182,918
Total chicken inventories
Inventory [Line Items]
Total inventories	962,979	795,652
Commercial feed and other
Inventory [Line Items]
Total inventories	$ 4,598	$ 17,610

INVESTMENTS IN SECURITIES (Deta

INVESTMENTS IN SECURITIES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 25, 2016
Schedule of Available-for-sale Securities [Line Items]
Realized gains (losses)	$ 0	$ 0	$ 0	$ 0
Proceeds from sale or maturity of available-for-sale securities			0	$ 0
Fixed income securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	85,849,000		85,849,000		$ 44,865,000
Fair Value	85,849,000		85,849,000		44,865,000
Other
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	62,000		62,000		61,000
Fair Value	$ 62,000		$ 62,000		$ 61,000

DERIVATIVE FINANCIAL INSTRUME52

DERIVATIVE FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gains (losses) on derivative financial instruments	$ 3.2	$ 1.8	$ 0.4	$ 5.9

DERIVATIVE FINANCIAL INSTRUME53

DERIVATIVE FINANCIAL INSTRUMENTS (Schedule of Outstanding Derivative Instruments and Cash Collateral) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 25, 2017	Dec. 25, 2016
Fair values:
Cash collateral posted with brokers	$ 20,348	$ 4,979
Corn
Derivatives Coverage:
Derivatives coverage (as a percentage)	2.00%	2.30%
Period through which stated percent of needs are covered:
Maturity date	Sep. 30, 2018	Sep. 30, 2018
Soybean meal
Derivatives Coverage:
Derivatives coverage (as a percentage)	12.00%	0.30%
Period through which stated percent of needs are covered:
Maturity date	Jan. 31, 2018	Jul. 31, 2017
Commodity
Fair values:
Derivative assets, gross	$ 3,864	$ 5,439
Derivative liabilities, gross	(11,736)	(6,827)
Foreign currency
Fair values:
Derivative liabilities, gross	$ (186)	$ 0

PROPERTY, PLANT AND EQUIPMENT54

PROPERTY, PLANT AND EQUIPMENT (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 25, 2016
Property, Plant and Equipment [Abstract]
Depreciation	$ 52,000	$ 43,500	$ 97,800	$ 81,900
Payments for capital projects			174,150	93,978
Transfer of property, plant and equipment			139,600	128,100
Proceeds from property disposals	2,000	7,500	1,466	8,097
Net gain (loss) on property disposals	900	$ 6,600	768	$ 6,755
Assets held for sale	5,542		5,542		$ 5,259
Impairment			3,500
Idled assets, carrying amount	52,700		52,700
Idled assets, depreciable value	174,000		174,000
Idled assets, accumulated depreciation	$ 121,300		$ 121,300

PROPERTY, PLANT AND EQUIPMENT55

PROPERTY, PLANT AND EQUIPMENT (Schedule of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016
Property, Plant and Equipment [Line Items]
PP&E, gross	$ 3,626,007	$ 3,354,504
Accumulated depreciation	(1,904,059)	(1,848,564)
PP&E, net	1,721,948	1,505,940
Land
Property, Plant and Equipment [Line Items]
PP&E, gross	164,157	112,132
Buildings
Property, Plant and Equipment [Line Items]
PP&E, gross	1,256,981	1,169,984
Machinery and equipment
Property, Plant and Equipment [Line Items]
PP&E, gross	1,888,854	1,789,550
Autos and trucks
Property, Plant and Equipment [Line Items]
PP&E, gross	47,840	50,964
Construction-in-progress
Property, Plant and Equipment [Line Items]
PP&E, gross	$ 268,175	$ 231,874

CURRENT LIABILITIES (Details)

CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016
Accounts payable:
Trade accounts	$ 457,952	$ 487,214
Book overdrafts	46,964	63,577
Other payables	14,904	4,306
Total accounts payable	519,820	555,097
Accounts payable to related parties	3,622	1,421
Accrued expenses and other current liabilities:
Compensation and benefits	107,631	110,385
Interest and debt-related fees	10,934	8,685
Insurance and self-insured claims	77,540	82,544
Derivative liabilities:
Other accrued expenses	116,700	82,258
Total accrued expenses and other current liabilities	324,727	290,699
Total accounts payable, accrued expenses and other current liabilities	848,169	847,217
Futures
Derivative liabilities:
Derivative liabilities	8,717	4,063
Options
Derivative liabilities:
Derivative liabilities	3,019	2,764
Foreign currency
Derivative liabilities:
Derivative liabilities	$ 186	$ 0

LONG-TERM DEBT AND OTHER BORR57

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Narrative) (Details)	Sep. 27, 2016MXN	Apr. 22, 2015USD ($)	Mar. 12, 2015USD ($)	Feb. 11, 2015USD ($)	Jun. 25, 2017USD ($)	May 08, 2017USD ($)	Dec. 25, 2016USD ($)	Mar. 11, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt					$ 1,456,920,000		$ 1,023,680,000
Revolving note payable at 4.56% | Line of credit
Debt Instrument [Line Items]
Stated interest rate					4.56%
Long-term debt					$ 73,262,000		0
Term note payable at 4.75% | Line of credit
Debt Instrument [Line Items]
Stated interest rate					4.75%
Long-term debt					$ 800,000,000		500,000,000
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity	MXN 1,500,000,000				83,300,000
Long-term debt					83,328,000		23,304,000
Current borrowing capacity					5,600
Outstanding borrowings					$ 83,300,000
Interest rate on short-term credit facility amounts outstanding					8.10%
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | TIIE Rate | Line of credit
Debt Instrument [Line Items]
Basis spread on variable rate	0.95%				0.95%
Senior notes | Senior notes payable at 5.75%
Debt Instrument [Line Items]
Aggregate principal amount								$ 500,000,000
Stated interest rate					5.75%			5.75%
Long-term debt					$ 500,000,000		$ 500,000,000
Radobank | 2015 US Credit Facility [Member] | Line of credit
Debt Instrument [Line Items]
Repayments of lines of credit			$ 350,000,000
Available increase to aggregate revolving loan commitment						$ 1,000,000,000
Quarterly principal payment required, percent of original principal amount						1.25%
Current borrowing capacity					631,900,000
Letters of credit outstanding					44,800,000
Credit facility, capital expenditures limit				$ 500,000,000
Radobank | 2015 US Credit Facility [Member] | Swingline Loans
Debt Instrument [Line Items]
Maximum borrowing capacity				75,000,000
Radobank | 2015 US Credit Facility [Member] | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 125,000,000
Radobank | 2015 US Credit Facility [Member] | U.S. and Puerto Rico Subsidiaries | Line of credit
Debt Instrument [Line Items]
Percentage of equity interest guaranteed for debt				100.00%
Radobank | 2015 US Credit Facility [Member] | Foreign Subsidiaries | Line of credit
Debt Instrument [Line Items]
Percentage of equity interest guaranteed for debt				65.00%
Radobank | 2015 US Credit Facility [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				1.50%
Radobank | 2015 US Credit Facility [Member] | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				1.25%
Radobank | 2015 US Credit Facility [Member] | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate				2.75%
Radobank | 2015 US Credit Facility [Member] | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate				0.50%
Radobank | 2015 US Credit Facility [Member] | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate				0.25%
Radobank | 2015 US Credit Facility [Member] | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate				1.75%
Radobank | Revolving note payable at 4.56% | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 750,000,000
Outstanding borrowings					73,300,000
Radobank | Term note payable at 4.75% | Line of credit
Debt Instrument [Line Items]
Repayments of lines of credit		$ 150,000,000
Maximum borrowing capacity						$ 800,000,000
Long-term debt					$ 800,000,000

LONG-TERM DEBT AND OTHER BORR58

LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Schedule of Long-term Debt and Other Borrowing Arrangements) (Details) - USD ($) $ in Thousands	Sep. 27, 2016	Jun. 25, 2017	Dec. 25, 2016	Mar. 11, 2015
Debt Instrument [Line Items]
Long-term debt		$ 1,456,920	$ 1,023,680
Less: Current maturities of long-term debt		(40,098)	(94)
Long-term debt, less current maturities		1,416,822	1,023,586
Less: Capitalized financing costs		(12,558)	(11,728)
Long-term debt, less current maturities, net of capitalized financing costs:		$ 1,404,264	1,011,858
Line of credit | Term note payable at 4.75%
Debt Instrument [Line Items]
Stated interest rate		4.75%
Long-term debt		$ 800,000	500,000
Line of credit | Revolving note payable at 4.56%
Debt Instrument [Line Items]
Stated interest rate		4.56%
Long-term debt		$ 73,262	0
Line of credit | Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95%
Debt Instrument [Line Items]
Long-term debt		$ 83,328	23,304
Line of credit | Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | TIIE Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.95%	0.95%
Senior notes | Senior notes payable at 5.75%
Debt Instrument [Line Items]
Stated interest rate		5.75%		5.75%
Long-term debt		$ 500,000	500,000
Other long-term debt
Debt Instrument [Line Items]
Long-term debt		$ 330	$ 376

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Income Tax Disclosure [Abstract]
Income tax expense	$ 113,218,000	$ 78,398,000	$ 161,119,000	$ 141,002,000
Effective income tax rate			32.90%	34.20%
Other comprehensive income (loss), tax expense (benefit)			$ 1,500,000	$ 5,300,000
Tax benefit related to share-based compensation			$ 0	$ 0

PENSION AND OTHER POSTRETIREM60

PENSION AND OTHER POSTRETIREMENT BENEFITS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 25, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Retirement plan expenses	$ 1,600	$ 1,400	$ 3,200	$ 3,000
Accumulated benefit obligation, defined benefit pension plans	174,400		$ 174,400		$ 167,200
Weighted average duration of defined benefit obligation			32 years 5 months 9 days
Actuarial gain (loss) expected to be recognized in net pension cost, remainder of 2015	(500)		$ (500)
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Expected contributions, remainder of 2016 (less than for other postretirement plans)	6,100		6,100
Other Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Impact of 0.25% change in discount rate on projected benefit obligation			1
Expected contributions, remainder of 2016 (less than for other postretirement plans)	$ 100		$ 100
Fixed income securities | Pooled separate accounts
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Target plan asset allocations	50.00%		50.00%
Fixed income securities | Common collective trusts funds
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Target plan asset allocations	30.00%		30.00%
Equity securities | Common collective trusts funds
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Target plan asset allocations	70.00%		70.00%

PENSION AND OTHER POSTRETIREM61

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Defined Benefit Plan Obligations and Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 25, 2016	Dec. 27, 2015
Change in plan assets:
Fair value of plan assets, beginning of period			$ 97,526
Fair value of plan assets, end of period	$ 104,740		104,740
Pension Benefits
Change in projected benefit obligation:
Projected benefit obligation, beginning of period			167,159	$ 165,952
Interest cost	1,393	$ 1,397	2,786	2,793
Actuarial losses (gains)			8,885	12,736
Benefits paid			(4,430)	(4,581)
Projected benefit obligation, end of period	174,400	176,900	174,400	176,900
Change in plan assets:
Fair value of plan assets, beginning of period			97,526	96,947
Actual return on plan assets			7,142	1,084
Contributions by employer			4,502	4,412
Benefits paid			(4,430)	(4,581)
Fair value of plan assets, end of period	104,740	97,862	104,740	97,862
Funded status:
Unfunded benefit obligation, end of period	(69,660)		(69,660)		$ (69,633)
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:
Current liability	(13,103)		(13,103)		(13,113)
Long-term liability	(56,557)		(56,557)		(56,520)
Recognized liability	(69,660)		(69,660)		(69,633)
Amounts recognized in accumulated other comprehensive loss at end of period:
Net actuarial loss (gain)	50,398	52,065	50,398	52,065	46,494	$ 38,115
Other Benefits
Change in projected benefit obligation:
Projected benefit obligation, beginning of period			1,648	1,672
Interest cost	12	14	25	26
Actuarial losses (gains)			101	72
Benefits paid			(74)	(70)
Projected benefit obligation, end of period	1,700	1,700	1,700	1,700
Change in plan assets:
Fair value of plan assets, beginning of period			0	0
Actual return on plan assets			0	0
Contributions by employer			74	70
Benefits paid			(74)	(70)
Fair value of plan assets, end of period	0	0	0	0
Funded status:
Unfunded benefit obligation, end of period	(1,700)		(1,700)		(1,648)
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period:
Current liability	(147)		(147)		(147)
Long-term liability	(1,553)		(1,553)		(1,501)
Recognized liability	(1,700)		(1,700)		(1,648)
Amounts recognized in accumulated other comprehensive loss at end of period:
Net actuarial loss (gain)	$ 70	$ (7)	$ 70	$ (7)	$ (31)	$ (79)

PENSION AND OTHER POSTRETIREM62

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Net Defined Benefit Pension and Other Postretirement Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 1,393	$ 1,397	$ 2,786	$ 2,793
Estimated return on plan assets	(1,313)	(1,314)	(2,626)	(2,628)
Amortization of net loss	233	164	466	329
Net costs	313	247	626	494
Other Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	12	14	25	26
Estimated return on plan assets	0	0	0	0
Amortization of net loss	0	0	0	0
Net costs	$ 12	$ 14	$ 25	$ 26

PENSION AND OTHER POSTRETIREM63

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Economic Assumptions and Impact of Change in Discount Rate on Benefit Obligation) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Dec. 25, 2016
Assumptions used to measure net pension and other postretirement cost:
Increase in Discount Rate of 0.25% - Impact on defined benefit obligation for pension benefits	$ (4,819)
Decrease in Discount Rate of 0.25% - Impact on defined benefit obligation for pension benefits	$ 5,123
Pension Benefits
Assumptions used to measure benefit obligation at end of period:
Discount rate	3.88%		4.31%
Assumptions used to measure net pension and other postretirement cost:
Discount rate	4.31%	4.47%
Expected return on plan assets	5.50%	5.50%
Other Benefits
Assumptions used to measure benefit obligation at end of period:
Discount rate	3.41%		3.81%
Assumptions used to measure net pension and other postretirement cost:
Discount rate	3.81%	4.47%

PENSION AND OTHER POSTRETIREM64

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Plan Asset Allocations) (Details)	Jun. 25, 2017	Dec. 25, 2016
Defined Benefit Plan Disclosure [Line Items]
Total assets	100.00%	100.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total assets	0.00%	0.00%
Equity securities | Pooled separate accounts
Defined Benefit Plan Disclosure [Line Items]
Total assets	5.00%	5.00%
Equity securities | Common collective trusts funds
Defined Benefit Plan Disclosure [Line Items]
Total assets	60.00%	60.00%
Fixed income securities | Pooled separate accounts
Defined Benefit Plan Disclosure [Line Items]
Total assets	5.00%	5.00%
Fixed income securities | Common collective trusts funds
Defined Benefit Plan Disclosure [Line Items]
Total assets	30.00%	30.00%

PENSION AND OTHER POSTRETIREM65

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Fair Value Assumptions of Plan Assets) (Details) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 25, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	$ 104,740	$ 97,526
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	127	119
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	104,613	97,407
Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	127	119
Cash and cash equivalents | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	127	119
Cash and cash equivalents | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds | Pooled separate accounts
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	3,583	3,302
Large U.S. equity funds | Pooled separate accounts | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds | Pooled separate accounts | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	3,583	3,302
Large U.S. equity funds | Pooled separate accounts | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds | Common collective trusts funds
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	25,699	24,547
Large U.S. equity funds | Common collective trusts funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Large U.S. equity funds | Common collective trusts funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	25,699	24,547
Large U.S. equity funds | Common collective trusts funds | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds | Pooled separate accounts
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	419	406
Small/Mid U.S. equity funds | Pooled separate accounts | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds | Pooled separate accounts | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	419	406
Small/Mid U.S. equity funds | Pooled separate accounts | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds | Common collective trusts funds
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	18,489	17,344
Small/Mid U.S. equity funds | Common collective trusts funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Small/Mid U.S. equity funds | Common collective trusts funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	18,489	17,344
Small/Mid U.S. equity funds | Common collective trusts funds | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds | Pooled separate accounts
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	1,419	1,231
International equity funds | Pooled separate accounts | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds | Pooled separate accounts | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	1,419	1,231
International equity funds | Pooled separate accounts | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds | Common collective trusts funds
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	18,581	17,006
International equity funds | Common collective trusts funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
International equity funds | Common collective trusts funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	18,581	17,006
International equity funds | Common collective trusts funds | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds | Pooled separate accounts
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	4,749	4,867
Fixed income funds | Pooled separate accounts | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds | Pooled separate accounts | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	4,749	4,867
Fixed income funds | Pooled separate accounts | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds | Common collective trusts funds
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	31,674	28,704
Fixed income funds | Common collective trusts funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	0	0
Fixed income funds | Common collective trusts funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	31,674	28,704
Fixed income funds | Common collective trusts funds | Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Fair value of plan assets	$ 0	$ 0

PENSION AND OTHER POSTRETIREM66

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Benefit Payments) (Details) $ in Thousands	Jun. 25, 2017USD ($)
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
2017 (remaining)	$ 8,482
2,018	11,617
2,019	11,088
2,020	11,019
2,021	10,790
2022-2026	49,927
Total	102,923
Other Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
2017 (remaining)	73
2,018	147
2,019	146
2,020	144
2,021	142
2022-2026	640
Total	$ 1,292

PENSION AND OTHER POSTRETIREM67

PENSION AND OTHER POSTRETIREMENT BENEFITS (Schedule of Unrecognized Benefit Amounts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Actuarial loss (gain)	$ 3,814	$ 1,844	$ 2,492	$ 8,729
Pension Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net actuarial loss (gain), beginning of period			46,494	38,115
Amortization			(466)	(329)
Curtailment and settlement adjustments			0	0
Actuarial loss (gain)			8,885	12,736
Asset loss (gain)			(4,515)	1,543
Net actuarial loss (gain), end of period	50,398	52,065	50,398	52,065
Other Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Net actuarial loss (gain), beginning of period			(31)	(79)
Amortization			0	0
Curtailment and settlement adjustments			0	0
Actuarial loss (gain)			101	72
Asset loss (gain)			0	0
Net actuarial loss (gain), end of period	$ 70	$ (7)	$ 70	$ (7)

STOCKHOLDERS' EQUITY (Schedule

STOCKHOLDERS' EQUITY (Schedule of Changes in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance			$ 896,747	$ 1,261,810
Amounts reclassified from accumulated other comprehensive loss to net income			290	(127)
Total other comprehensive loss, net of tax	$ (3,814)	$ (1,941)	(2,492)	(8,796)
Balance	1,210,097	818,693	1,210,097	818,693
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance			(64,243)	(58,930)
Other comprehensive income (loss) before reclassifications			(2,782)	(8,669)
Amounts reclassified from accumulated other comprehensive loss to net income			290	(127)
Total other comprehensive loss, net of tax			(2,492)	(8,796)
Balance	(66,735)	(67,726)	(66,735)	(67,726)
Losses Related to Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance			(64,243)	(58,997)
Other comprehensive income (loss) before reclassifications			(2,782)	(8,934)
Amounts reclassified from accumulated other comprehensive loss to net income			290	205
Total other comprehensive loss, net of tax			(2,492)	(8,729)
Balance	(66,735)	(67,726)	(66,735)	(67,726)
Unrealized Holding Gains on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance			0	67
Other comprehensive income (loss) before reclassifications			0	265
Amounts reclassified from accumulated other comprehensive loss to net income			0	(332)
Total other comprehensive loss, net of tax			0	(67)
Balance	$ 0	$ 0	$ 0	$ 0

STOCKHOLDERS' EQUITY (Schedul69

STOCKHOLDERS' EQUITY (Schedule of Reclassification from Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Realized gain on sale of securities	$ 1,044	$ 683	$ 1,346	$ 1,376
Amortization of defined benefit pension and other postretirement plan actuarial losses	(1,826,217)	(1,742,184)	(3,631,504)	(3,467,559)
Amortization of defined benefit pension and other postretirement plan actuarial losses	$ (61,636)	$ (49,520)	(124,489)	(98,308)
Total before tax			(466)	204
Tax benefit (expense)			176	(77)
Net income			(290)	127
Amount Reclassified from Accumulated Other Comprehensive Loss
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Realized gain on sale of securities			0	534
Amount Reclassified from Accumulated Other Comprehensive Loss | Union Plan
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Amortization of defined benefit pension and other postretirement plan actuarial losses			(12)	(10)
Amount Reclassified from Accumulated Other Comprehensive Loss | Legacy Gold Kist Plans
Amortization of defined benefit pension and other postretirement plan actuarial losses:
Amortization of defined benefit pension and other postretirement plan actuarial losses			(142)	(100)
Amortization of defined benefit pension and other postretirement plan actuarial losses			$ (312)	$ (220)

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($) shares in Millions	Jun. 25, 2017	Dec. 25, 2016	Feb. 10, 2016	Jul. 28, 2015
Equity [Abstract]
Share repurchase, authorized amount			$ 300,000,000	$ 150,000,000
Shares repurchased under program (in shares)	11.4
Market value of shares repurchased under program	$ 231,758,000	$ 217,117,000

INCENTIVE COMPENSATION (Narrati

INCENTIVE COMPENSATION (Narrative) (Details) - USD ($) shares in Millions	6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Fair value of awards vested	$ 9,200,000	$ 0
Total unrecognized compensation cost related to all nonvested awards	$ 8,800,000
Weighted average period unrecognized compensation cost is expected to be recognized	2 years 2 months 23 days
STIP
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Accrued costs related to the STIP	$ 11,900,000
Reserved shares of common stock for future issuance under the LTIP (in shares)	4.8
JFC LTIP
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Accrued costs related to the STIP	$ 3,400,000

INCENTIVE COMPENSATION (Schedul

INCENTIVE COMPENSATION (Schedule of Awards) (Details) - $ / shares	May 18, 2016	Feb. 17, 2015	Jun. 25, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Special cash dividends paid (in dollars per share)	$ 2.75	$ 5.77
RSU 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			449,217
Grant Date			Feb. 19, 2014
Grant Date Fair Value per Award (in dollars per share)			$ 16.70
Vesting Date			Dec. 31, 2016
Vesting Date Fair Value per Award (in dollars per share)			$ 18.99
Estimated Forfeiture Rate			13.49%
Awards Forfeited to Date (in shares)			86,458
RSU 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			223,701
Grant Date			Mar. 3, 2014
Grant Date Fair Value per Award (in dollars per share)			$ 17.18
Vesting Date			Dec. 31, 2017
Estimated Forfeiture Rate			12.34%
Awards Forfeited to Date (in shares)			55,516
RSU 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			45,961
Grant Date			Feb. 11, 2015
Grant Date Fair Value per Award (in dollars per share)			$ 25.87
Vesting Date			Dec. 31, 2017
Vesting Date Fair Value per Award (in dollars per share)			$ 18.99
Estimated Forfeiture Rate			12.34%
Awards Forfeited to Date (in shares)			0
RSU 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			251,136
Grant Date			Mar. 30, 2016
Grant Date Fair Value per Award (in dollars per share)			$ 25.36
Vesting Date			Dec. 31, 2019
Vesting Date Fair Value per Award (in dollars per share)			$ 18.99
Awards Forfeited to Date (in shares)			251,136
Percentage of awards forfeited			100.00%
RSU 5
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			74,536
Grant Date			Oct. 13, 2016
Grant Date Fair Value per Award (in dollars per share)			$ 20.93
Vesting Date			Dec. 31, 2016
Estimated Forfeiture Rate			0.00%
Awards Forfeited to Date (in shares)			0
RSU 6
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			389,424
Grant Date			Jan. 19, 2017
Grant Date Fair Value per Award (in dollars per share)			$ 18.39
Estimated Forfeiture Rate			0.00%
Awards Forfeited to Date (in shares)			0
RSU 7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			48,586
Grant Date			Feb. 13, 2017
Grant Date Fair Value per Award (in dollars per share)			$ 20.52
Vesting Date			Feb. 13, 2017
Estimated Forfeiture Rate			0.00%
Awards Forfeited to Date (in shares)			0
RSU 8
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards Granted (in shares)			23,469
Grant Date			Feb. 13, 2017
Grant Date Fair Value per Award (in dollars per share)			$ 20.52
Vesting Date			Dec. 31, 2017
Estimated Forfeiture Rate			0.00%
Awards Forfeited to Date (in shares)			0

INCENTIVE COMPENSATION (Sched73

INCENTIVE COMPENSATION (Schedule of Compensation Cost and Income Tax Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation costs	$ 487	$ 989	$ 1,947	$ 1,869
Income tax benefit	184	293	601	550
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation costs	38	162	187	261
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation costs	$ 449	$ 827	$ 1,760	$ 1,608

INCENTIVE COMPENSATION (Sched74

INCENTIVE COMPENSATION (Schedule of Restricted Share and Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSU) - $ / shares shares in Thousands	6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016
Number
Outstanding at beginning of period (in shares)	906	774
Granted (in shares)	462	251
Vested (in shares)	(486)	0
Forfeited (in shares)	(251)	(193)
Outstanding at end of period (in shares)	631	832
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 20	$ 18.78
Granted (in dollars per share)	18.72	25.36
Vested (in dollars per share)	17.73	0
Forfeited (in dollars per share)	25.36	24.51
Outstanding at end of period (in dollars per share)	$ 18.68	$ 19.44

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Millions	Dec. 25, 2016	Dec. 27, 2015
Related Party Transaction, Tax Sharing Agreement | JBS Food Company Holdings
Related Party Transaction [Line Items]
Net tax receivable	$ 5	$ 3.7

RELATED PARTY TRANSACTIONS (Sch

RELATED PARTY TRANSACTIONS (Schedule of Related Party Transactions) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 25, 2016	Apr. 01, 2016	Mar. 07, 2016	Oct. 26, 2011
Related Party Transaction [Line Items]
Accounts payable to related parties	$ 3,622,000		$ 3,622,000		$ 1,421,000
JBS Food Company Holdings
Related Party Transaction [Line Items]
Letter of credit fees expensed	0	$ 0	0	$ 202,000
Letter of credit, terminated						$ 16,500,000	$ 40,000,000
Interest paid				200,000
JBS Food Company Holdings | Letter of Credit
Related Party Transaction [Line Items]
Agreed repayment of debt								$ 56,500,000
JBS USA Food Company
Related Party Transaction [Line Items]
Purchases from related parties	24,994,000	26,377,000	52,283,000	46,888,000
Expenditures paid	7,349,000	8,722,000	18,298,000	16,326,000
Sales to related party	4,833,000	4,114,000	9,396,000	7,416,000
Accounts payable to related parties	3,600,000		3,600,000		1,400,000
Account receivable from related parties	2,100,000		2,100,000		3,800,000
Goods in transit	1,100,000		1,100,000
JBS USA Food Company | Expenses Paid By Company On Behalf Of Related Party
Related Party Transaction [Line Items]
Expenditures paid	1,595,000	1,725,000	2,460,000	8,688,000
JBS Chile Ltda.
Related Party Transaction [Line Items]
Sales to related party	0	107,000	0	312,000
JBS Global (UK) Ltd.
Related Party Transaction [Line Items]
Sales to related party	0	0	19,000	122,000
JBS Five Rivers
Related Party Transaction [Line Items]
Sales to related party	9,394,000	0	16,516,000	0
Account receivable from related parties	1,900,000		1,900,000		$ 0
J&F Investimentos
Related Party Transaction [Line Items]
Sales to related party	0	0	104,000	0
JBS Seara
Related Party Transaction [Line Items]
Sales to related party	$ 0	$ 0	$ 80,000	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Dec. 12, 2012USD ($)settlement_agreement	Oct. 13, 2016producerclaim	Jun. 25, 2017former_director	Dec. 27, 2009USD ($)
IRS Matter
Loss Contingencies [Line Items]
Damages sought | $	$ 29.3			$ 74.7
Number of Stipulations of Settled Issued | settlement_agreement	2
Class Action Lawsuits
Loss Contingencies [Line Items]
Number of other producers named in lawsuits | producer		13
New claims filed		3
New claims filed on behalf of direct purchasers		1
New claims filed on behalf of indirect purchasers		2
J&F Investigation
Loss Contingencies [Line Items]
Number of former directors involved in investigation | former_director			2