EXHIBIT 12

                           CONAGRA, INC. AND SUBSIDIARIES
                 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                               (Dollars in millions)


                                                    TWENTY-SIX WEEKS
                                                         ENDED
                                                    NOVEMBER 23, 1997
                                                    -----------------
Fixed charges
     Interest expense                                   $  180.1 
     Capitalized interest                                    6.4 
     Interest in cost of goods sold                          8.5 
     One third of non-cancellable lease rent                19.0 
                                                        --------
       Total fixed charges (A)                          $  214.0 
                                                        ========
Earnings
     Pretax income                                      $  526.0 
     Add fixed charges                                     214.0 
     Less capitalized interest                              (6.4)
                                                        --------
     Earnings and fixed charges (B)                     $  733.6 
                                                        ========

     Ratio of earnings to fixed charges (B/A)                3.4 



For the purpose of computing the above ratio of earnings to fixed charges, 
earnings consist of income before taxes and fixed charges.  Fixed charges, 
for the purpose of computing earnings, are adjusted to exclude interest 
capitalized. Fixed charges include interest on both long and short-term debt 
(whether said interest is expensed or capitalized and including interest 
charged to cost of goods sold), and a portion of noncancellable rental 
expense representative of the interest factor.  The ratio is computed using 
the amounts for ConAgra as a whole, including its majority-owned 
subsidiaries, whether or not consolidated, and its proportionate share of any 
50% owned subsidiaries, whether or not ConAgra guarantees obligations of 
these subsidiaries.

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