UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                            FORM 10-K
(Mark One)
[ X ]   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934

        For the fiscal year ended December 31, 2010

                               OR

[   ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
        THE SECURITIES EXCHANGE ACT OF 1934

        For the transition period from _______________ to ________________

                 Commission file number: 1-3390

                       SEABOARD CORPORATION
     (Exact name of registrant as specified in its charter)

                    Delaware                          04-2260388
       (State or other jurisdiction of    (I.R.S. Employer Identification No.)
        incorporation or organization)

               9000 W. 67th Street, Shawnee Mission, Kansas   66202
                 (Address of principal executive offices)   (Zip Code)

                         (913) 676-8800
      (Registrant's telephone number, including area code)

   SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

          Title of each class         Name of each exchange on which registered
      Common Stock $1.00 Par Value               NYSE Amex Equities

   SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

                               None
                        (Title of class)

Indicate by check mark if the registrant is a well-known seasoned
issuer, as defined in Rule 405 of the Securities Act. Yes [   ]
No [ X ]

Indicate by check mark if the registrant is not required to file
reports pursuant to Section 13 or 15(d) of the Act. Yes [   ]  No
[ X ]

Indicate  by check mark whether the registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.  Yes [ X ]  No [   ]

Indicate  by  check  mark  whether the registrant  has  submitted
electronically  and posted on its corporate  Web  site,  if  any,
every  Interactive Data File required to be submitted and  posted
pursuant  to Rule 405 of Regulation S-T (232.405 of this chapter)
during  the preceding 12 months (or for such shorter period  that
the  registrant was required to submit and post such files).
Yes [   ]  No [   ]

Indicate  by  check  mark  if  disclosure  of  delinquent  filers
pursuant  to Item 405 of Regulation S-K is not contained  herein,
and will not be contained, to the best of registrant's knowledge,
in  definitive  proxy or information statements  incorporated  by
reference in Part III of this Form 10-K or any amendment to  this
Form 10-K.  [ X ]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer,
or a smaller reporting company.  See the definitions of "larger
accelerated filer," "accelerated filer" and "smaller reporting
company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [   ]         Accelerated filer [ X ]
Non-accelerated filer [   ]  (Do not check if a smaller reporting company)
                                      Smaller reporting company [   ]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Act). Yes [   ]  No [X ]

The  aggregate  market value of the 323,395  shares  of  Seaboard
common    stock   held   by   nonaffiliates   was   approximately
$454,693,370, based on the closing price of $1,406.00  per  share
on July 2, 2010, the end of Seaboard's second fiscal quarter.  As
of  February  4,  2011,  the number of  shares  of  common  stock
outstanding was 1,215,879.

               DOCUMENTS INCORPORATED BY REFERENCE

Portions of the following documents are incorporated by reference
into   the   indicated  parts  of  this  report:   (1)   Seaboard
Corporation's  Annual  Report to Stockholders  furnished  to  the
Commission  pursuant to Rule 14a-3(b) - Parts I and II;  and  (2)
Seaboard  Corporation's definitive proxy statement filed pursuant
to  Regulation 14A for the 2011 annual meeting of stockholders  -
Part III.

<PAGE>

Forward-Looking Statements

This  report,  including information included or incorporated  by
reference   in  this  report,  contains  certain  forward-looking
statements  with respect to the financial condition,  results  of
operations, plans, objectives, future performance and business of
Seaboard  Corporation and its subsidiaries (Seaboard).   Forward-
looking statements generally may be identified as:

-   statements that are not historical in nature; and

-   statements  preceded  by, followed by  or  that  include  the
     words   "believes,"  "expects,"  "may,"  "will,"   "should,"
     "could,"  "anticipates," "estimates," "intends"  or  similar
     expressions.

In  more  specific  terms,  forward-looking  statements  include,
without limitation:

-   statements  concerning the projection of revenues, income  or
    loss,  capital  expenditures,  capital  structure  or  other
    financial items;

-   statements  regarding the plans and objectives of  management
    for future operations;

-   statements of future economic performance;

-   statements   regarding   the  intent,   belief   or   current
    expectations of Seaboard and its management with respect to:

    (i)    Seaboard's  ability to obtain adequate  financing  and
           liquidity;

    (ii)   the price of feed stocks and other materials  used  by
           Seaboard;

    (iii)  the sale price or market conditions for pork,  grains,
           sugar, turkey and other products and services;

    (iv)   statements  concerning  management's  expectations  of
           recorded tax effects under certain circumstances;

    (v)    the   volume   of   business   and   working   capital
           requirements  associated  with the competitive trading
           environment for  the  Commodity  Trading  and  Milling
           division;

    (vi)   the charter hire rates and fuel prices for vessels;

    (vii)  the  stability  of  the  Dominican Republic's economy,
           fuel  cost  and  related   spot   market   prices  and
           collections  of receivables in the Dominican Republic;

    (viii) the   ability   of  Seaboard  to  sell  certain  grain
           inventories in foreign countries at current cost basis
           and the related contract performance by customers;

    (ix)   the  effect  of  the  fluctuation  in foreign currency
           exchange rates;

    (x)    statements concerning profitability or sales volume of
           any of Seaboard's divisions;

    (xi)   the anticipated  costs  and completion  timetable  for
           Seaboard's     scheduled     capital     improvements,
           acquisitions and dispositions; and

    (xii)  other trends  affecting Seaboard's financial condition
           or  results  of  operations,  and  statements  of  the
           assumptions  underlying  or  relating  to  any  of the
           foregoing statements.

This   list  of  forward-looking  statements  is  not  exclusive.
Seaboard  undertakes no obligation to publicly update  or  revise
any  forward-looking  statement,  whether  as  a  result  of  new
information, future events, changes in assumptions or  otherwise.
Forward-looking   statements  are  not   guarantees   of   future
performance  or  results.  They involve risks, uncertainties  and
assumptions.   Actual  results may differ materially  from  those
contemplated by the forward-looking statements due to  a  variety
of  factors.  The information contained in this Form 10-K and  in
other  filings  Seaboard  makes with  the  Commission,  including
without  limitation,  the information under  the  headings  "Risk
Factors"  and  "Management's Discussion and Analysis of Financial
Condition   and  Results  of  Operations"  in  this  Form   10-K,
identifies important factors which could cause such differences.

<PAGE> 2

                              PART I

Item 1.  Business

(a)  General Development of Business

Seaboard  Corporation, a Delaware corporation, and its subsidiaries
(Seaboard),   is  a  diversified  international  agribusiness   and
transportation  company.   In  the  United  States,   Seaboard   is
primarily  engaged  in  pork production and  processing  and  ocean
transportation.   Overseas,  Seaboard  is  primarily   engaged   in
commodity  merchandising, grain processing, sugar  production,  and
electric power generation.  Seaboard also has an interest in turkey
operations in the United States.  See Item 1(c) (1) (ii) "Status of
Product  or  Segment"  below  for  a  discussion  of  acquisitions,
dispositions and other developments in specific divisions.

Seaboard  Flour  LLC  and  SFC  Preferred  LLC,  Delaware   limited
liability companies, collectively own approximately 73.5 percent of
the  outstanding common stock of Seaboard.  Mr. Steven  J.  Bresky,
President  and  Chief  Executive Officer  of  Seaboard,  and  other
members  of the Bresky family, including trusts created  for  their
benefit,  own the equity interests of Seaboard Flour  LLC  and  SFC
Preferred LLC.

(b)  Financial Information about Industry Segments

The financial information relating to Industry Segments required by
Item 1 of Form 10-K is incorporated herein by reference to Note  13
of  the  Consolidated Financial Statements appearing  on  pages  55
through   59   of  the  Seaboard  Corporation  Annual   Report   to
Stockholders furnished to the Commission pursuant to Rule  14a-3(b)
and attached as Exhibit 13 to this Report.

(c)  Narrative Description of Business

  (1)  Business Done and Intended to be Done by the Registrant

     (i)  Principal Products and Services

     Pork  Division  -  Seaboard, through its  subsidiary  Seaboard
     Foods  LLC,  engages in the businesses of hog  production  and
     pork   processing  in  the  United  States.    Through   these
     operations, Seaboard produces and sells fresh and frozen  pork
     products to further processors, foodservice operators, grocery
     stores, distributors and retail outlets throughout the  United
     States.   Internationally, Seaboard sells to these same  types
     of  customers  in  Japan,  Mexico and other  foreign  markets.
     Other  further  processing companies also purchase  Seaboard's
     fresh  and  frozen pork products in bulk and produce products,
     such  as lunchmeat, ham, bacon, and sausage.  Fresh pork, such
     as  loins,  tenderloins and ribs are sold to distributors  and
     grocery  stores.  Seaboard also sells further  processed  pork
     products consisting primarily of raw and pre-cooked bacon from
     its  two bacon further processing plants.  Seaboard sells some
     of  its fresh products under the brand name Prairie Freshr and
     its  bacon  and  other further processed  products  under  the
     Daily'sr  brand  name.   Seaboard's hog  processing  plant  is
     located  in  Guymon, Oklahoma, and operates  at  double  shift
     capacity.   Seaboard's bacon plants are located in  Salt  Lake
     City,  Utah and Missoula, Montana.  Seaboard also earns  fees,
     based primarily on the number of head processed, to market all
     of  the  products produced by Triumph Foods LLC at their  pork
     processing plant located in St. Joseph, Missouri.

     Seaboard's  hog production operations consist of the  breeding
     and  raising  of  approximately  four  million  hogs  annually
     primarily  at  facilities owned by Seaboard or  at  facilities
     owned  and  operated by third parties with whom  Seaboard  has
     grower  contracts.  The hog production operations are  located
     in  the States of Oklahoma, Kansas, Texas and Colorado.  As  a
     part  of  the  hog  production operations,  Seaboard  produces
     specially  formulated  feed for the hogs  at  six  owned  feed
     mills.  The remaining hogs processed are purchased from  third
     party hog producers, primarily pursuant to purchase contracts.

     Seaboard produces biodiesel at a facility in Guymon, Oklahoma.
     The biodiesel is produced from pork fat from Seaboard's Guymon
     pork  processing  plant and from animal fat supplied  by  non-
     Seaboard  facilities.  The biodiesel is sold to third parties.
     The  facility  can also produce biodiesel from vegetable  oil.
     Seaboard  is able to reduce or stop production when  it  isn't
     economically feasible to produce based on input costs  or  the
     price of biodiesel.

     Seaboard   has  a  majority  interest  in  a  ham-boning   and
     processing plant in Mexico.

     Commodity  Trading and Milling Division - Seaboard's Commodity
     Trading  and  Milling  Division markets wheat,  corn,  soybean
     meal,  rice  and other similar commodities in  bulk  to  third
     parties  and affiliated companies.  This division  is  managed
     under  the  name  of  Seaboard  Overseas  and  Trading  Group,
     conducts business primarily through

<PAGE> 3

     its subsidiaries, Seaboard  Overseas  Limited with offices  in
     Bermuda,   Colombia,    Ecuador,   Isle   of  Man  and   South
     Africa, Seaboard Overseas Trading  and   Shipping  (PTY), Ltd.
     located in South Africa, SeaRice Limited   located  in Geneva,
     Switzerland, SeaRice Caribbean located  in   Miami,   Florida,
     and   its   non-consolidated   affiliates, ContiLatin del Peru
     S.A. located in Lima, Peru, and Plum Grove  Pty   Ltd  located
     in  Fremantle,  Australia.   In  addition,     although  to  a
     lesser    degree,    Seaboard     also     markets     various
     specialty grains and other similar commodities to third  party
     customers through its subsidiaries SeaRice Caribbean and Fill-
     more  Seeds,  Inc. located in Fillmore, Canada, and  its  non-
     consolidated  affiliate  PS International  located  in  Chapel
     Hill,  North Carolina, with additional international  offices.
     All of the commodities marketed by this division are purchased
     from  growing  regions  worldwide, with  primary  destinations
     being  Africa, South America, Asia, Europe and the  Caribbean.
     The  division  sources,  transports and markets  approximately
     five  million tons of grains and proteins on an annual  basis.
     Seaboard  integrates the service of delivering commodities  to
     its  customers through the use of chartered bulk  vessels  and
     its eight owned bulk carriers.

     This  division  also  operates milling and related  businesses
     with  32  locations  in  14  countries,  which  are  primarily
     supplied by the trading locations discussed above.  The  grain
     processing  businesses are operated through four  consolidated
     and   fourteen  non-consolidated  affiliates  in  Africa,  the
     Caribbean and South America.  These are flour, feed and  maize
     milling  businesses which produce approximately three  million
     metric  tons  of  finished products per  year.   Most  of  the
     products  produced by the milling operations are sold  in  the
     countries in which the products are produced or into  adjacent
     countries.

     In  addition,  this  division has a 50 percent non-controlling
     interest in a newly combined poultry business in Africa and  a
     50 percent non-controlling interest in a bakery to be built in
     Central  Africa.  The bakery is not anticipated to   be  fully
     operational until the second half of 2011.

     Marine  Division - Seaboard, through its subsidiary,  Seaboard
     Marine  Ltd.,  and  various foreign affiliated  companies  and
     third  party  agents,  provides containerized  cargo  shipping
     service  to  26  countries  between  the  United  States,  the
     Caribbean Basin, and Central and South America.  Seaboard uses
     a  network of offices and agents throughout the United States,
     Canada,  Latin America and the Caribbean Basin  to  book  both
     northbound and southbound cargo to and from the United  States
     and  between the countries it serves.  Through agreements with
     a network of connecting carriers, Seaboard can transport cargo
     to and from numerous U.S. locations by either truck or rail to
     and  from  one of its U.S. port locations, where it is  staged
     for export via vessel or received as import cargo from abroad.

     Seaboard's  primary marine operation is located in  Miami  and
     includes an 81 acre terminal located at the Port of Miami  and
     a   135,000   square   foot  off-dock  warehouse   for   cargo
     consolidation and temporary storage.  Seaboard also operates a
     62  acre  cargo terminal facility at the Port of Houston  that
     includes   approximately  690,000  square  feet   of   on-dock
     warehouse space for temporary storage of bagged grains, resins
     and other cargoes.  Seaboard also makes scheduled vessel calls
     in Brooklyn, New York, Fernandina Beach, Florida, New Orleans,
     Louisiana  and  42  foreign  ports.   At  December  31,  2010,
     Seaboard's  fleet  consisted of 10 owned and approximately  29
     chartered  vessels,  and  dry,  refrigerated  and  specialized
     containers and other related equipment.

     Sugar  Division - Seaboard, through its subsidiary, Ingenio  y
     Refineria  San  Martin  del Tabacal and other  Argentine  non-
     consolidated  affiliates,  grows  sugar  cane,  produces   and
     refines  sugar,  and  produces  alcohol  in  Argentina.   This
     division  also  purchases  sugar in bulk  from  third  parties
     within  Argentina for subsequent resale.  The  sugar  products
     are  mostly  sold  in Argentina, primarily to retailers,  soft
     drink manufacturers, and food manufacturers, with some exports
     to  the  United  States and South America.  Seaboard  grows  a
     large  portion of the sugar cane on more than 60,000 acres  of
     land  it owns in northern Argentina. The cane is processed  at
     an   owned  mill,  with  a  current  processing  capacity   of
     approximately  250,000 metric tons of sugar and  approximately
     14   million  gallons  of  alcohol  per  year  (hydrated   and
     dehydrated).   The  sugar  mill  is  one  of  the  largest  in
     Argentina.  Also, during 2008 this division began construction
     of  a  40 megawatt cogeneration power plant, which is expected
     to be completed during the second quarter of 2011.

     Power   Division   -   Seaboard,   through   its   subsidiary,
     Transcontinental Capital Corp. (Bermuda) Ltd., operates as  an
     independent  power producer in the Dominican  Republic.   This
     operation  is  exempt from U.S. regulation  under  the  Public
     Utility  Holding  Company  Act  of  1938,  as  amended.   This
     division operates two floating barges with a system of  diesel
     engines  capable  of generating a combined rated  capacity  of
     approximately  112 megawatts of electricity.  See  "Status  of
     Product  or Segment" below for discussion of the pending  sale
     of  the  two  barges and the construction

<PAGE> 4

     of  a  new   replacement   power   barge.  Seaboard  generates
     electricity into  the  local Dominican  Republic  power  grid.
     Seaboard  is  not  directly  involved   in   the  transmission
     or  distribution   of the  electricity but does have contracts
     to sell directly to third party users.  The barges are secured
     on the Ozama  River  in Santo Domingo, Dominican Republic.

     Turkey Segment  - Seaboard owns a 50  percent  non-controlling
     voting interest in Butterball, LLC ("Butterball").  The  other
     50  percent  ownership interest is owned by a group consisting
     of  Maxwell  Farms,  LLC,  Goldsboro Milling  Company  and  GM
     Acquisition LLC (collectively, the "Maxwell Group")  based  in
     North   Carolina.   Butterball  is  a  vertically   integrated
     producer,  processor and marketer of branded  and  non-branded
     turkeys,  and  other  turkey products.  Butterball  has  seven
     processing  plants  and  numerous  live  production  and  feed
     milling  operations  located  in Arkansas,  Colorado,  Kansas,
     Missouri    and    North   Carolina.    Butterball    produces
     approximately  1 billion pounds of turkey each year,  and  the
     company  supplies  its  products to more  than  30  countries.
     Butterball  is  a national supplier to retail and  foodservice
     outlets and also exports products to Mexico and overseas.

     Other  Businesses - Seaboard purchases and processes  jalapeno
     peppers at its owned plant in Honduras.  The processed peppers
     are primarily sold to a customer in the United States, and are
     shipped to the United States by Seaboard's Marine Division and
     distributed from Seaboard's port facilities.

     The  information required by Item 1 of Form 10-K with  respect
     to  the  amount or percentage of total revenue contributed  by
     any  class  of similar products or services which account  for
     10  percent or more of consolidated revenue in any of the last
     three  fiscal  years  is set forth in Note  13  of  Seaboard's
     Consolidated  Financial  Statements,  appearing  on  pages  55
     through  59  of  the Seaboard's Annual Report to Stockholders,
     furnished  to  the  Commission pursuant to rule  14a-3(b)  and
     attached  as  Exhibit 13 to this report, which information  is
     incorporated herein by reference.

     (ii) Status of Product or Segment

     During the fourth quarter of 2010, Seaboard acquired for  $5.0
     million  a 25% non-controlling interest in a commodity trading
     business  in  Australia.  Also during the  fourth  quarter  of
     2010,  Seaboard  combined its existing investment  in  poultry
     operations  in  Africa  with another  existing  African  based
     poultry  business.   Seaboard  invested  an  additional  $10.5
     million  in this newly combined poultry business for  a  total
     investment  of  $17.0  million, which represents  a  50%  non-
     controlling  interest.   This  newly  combined  business   has
     operations in parts of Eastern and Southern Africa and is also
     expanding by building new operations in Central Africa.

     During the third quarter of 2010, Seaboard acquired a majority
     interest  in  a commodity origination, storage and  processing
     business in Canada for approximately $6.7 million.  The assets
     acquired included $1.2 million of cash.

     In  late July 2010, Seaboard finalized an agreement to  invest
     in a bakery to be built in Central Africa.  Seaboard will have
     a  50%  non-controlling interest in this business.  The  total
     project  cost is estimated to be $58.0 million but  Seaboard's
     total   investment   has  not  yet  been  determined   pending
     finalization  of  third  party financing  alternatives  for  a
     significant portion of the project.  The bakery is anticipated
     to be fully operational during the second half of 2011.

     In  late  March  2010, Seaboard acquired a 50% non-controlling
     interest   in  an  international  commodity  trading  business
     located in North Carolina for approximately $7.6 million.

     During  2008  Seaboard  discontinued operations of  its  flour
     milling operations in Mozambique as a result of its Mozambican
     subsidiary entering into an agreement to  exchange  its  flour
     milling facility for a ten percent  ownership  interest  in  a
     food  processing  company  in  that  country.  This   exchange
     transaction  was completed in the first half   of 2010.

     On  January  12,  2010,  Haiti was struck  by  an  earthquake.
     Seaboard has a non-controlling interest in an affiliate with a
     flour  mill  operation  in  Lafiteau,  Haiti.   Part  of  this
     facility  was severely damaged as a result of the  earthquake.
     This  affiliate  business is in the process of rebuilding  the
     damaged  part  of the facility and continues  to  operate  the
     portion  of the facility that was not damaged.  This  facility
     was   fully  insured,  including  business  interruption   and
     inventory  coverage.    Construction  is  anticipated  to   be
     completed  in late 2011.  Seaboard also sells wheat and  flour
     to   this   business  through  Seaboard's  commodity   trading
     operations.   In addition, the primary port in Haiti,  located
     in   Port-au-Prince  from  which  Seaboard  Marine's   vessels
     normally  dock,  was severely damaged.  Seaboard  resumed  its
     regular service to Haiti during the first half of 2010.

<PAGE> 5

     The  Sugar  Division  is in the process  of  developing  a  40
     megawatt cogeneration power plant.  This     plant is expected
     to  be  completed  during  the second  quarter  of  2011.   In
     addition,  in  the  first  quarter  of 2010, the Company began
     sales of dehydrated alcohol to certain oil companies under the
     Argentine   government  bio-ethanol  program  which   requires
     alcohol to be blended with gasoline.

     The  Power  Division's short-term contract with a  government-
     owned distribution company, which represents approximately 34%
     of  its  sales,  will expire before the sale of  the  existing
     power barges is completed as discussed below.

     On  March  2, 2009, an agreement became effective under  which
     Seaboard  sold its two power barges in the Dominican  Republic
     for $70.0 million to a third party, which will use such barges
     for  private  use.  It is anticipated that the  sale  will  be
     completed during the second quarter of 2011.  Seaboard will be
     responsible for the wind down and decommissioning costs of the
     barges.   Completion  of  the  sale  is  dependent  upon   the
     satisfaction of several conditions, including meeting  certain
     baseline performance and emissions tests.  Failure to  satisfy
     or  cure any deficiencies could result in the agreement  being
     terminated.   Seaboard retained all other physical  properties
     of  its power generation business and is currently building  a
     106 megawatt power barge for use in the Dominican Republic for
     approximately 83,573,000 Euros (approximately US $107,650,000)
     plus  additional  project costs for a total  of  approximately
     $125,000,000.  Operations are anticipated to begin by the  end
     of 2011 or early 2012 resulting in decreased sales during 2011
     for this division.

     On  December  6,  2010, Seaboard acquired a  50  percent  non-
     controlling  voting interest in Butterball  from  the  Maxwell
     Group, for a cash purchase price equal to approximately $177.5
     million.   Butterball  is  a vertically  integrated  producer,
     processor and marketer of branded and non-branded turkeys, and
     other   turkey  products.   The  other  50  percent  ownership
     interest  in  Butterball will continue  to  be  owned  by  the
     Maxwell  Group.   In connection with the purchase,  Butterball
     acquired  the  live turkey growing and related assets  of  the
     Maxwell Group (which previously owned a 51 percent interest in
     Butterball)  and  of  Murphy-Brown  LLC  ("Murphy  Brown"),  a
     subsidiary of Smithfield Foods, Inc., which previously owned a
     49  percent  interest  in Butterball.   Butterball  previously
     purchased  a  portion  of the turkeys it  processed  from  the
     Maxwell  Group  and  Murphy Brown.  In  connection  with  this
     transaction,  Seaboard provided Butterball with a $100,000,000
     unsecured  subordinated loan with a seven  year  maturity  and
     interest  of  15% per annum, comprised of 5% payable  in  cash
     semi-annually, plus 10% pay-in-kind interest compounded  semi-
     annually  and  paid at maturity.  As part of the  subordinated
     financing,  Seaboard received detachable warrants representing
     5%  of  the  fully diluted equity units in Butterball  with  a
     strike price of $0.01 per unit.

     (iii)     Sources and Availability of Raw Materials

     None of Seaboard's businesses utilize material amounts of  raw
     materials that are dependent on purchases from one supplier or
     a  small  group  of dominant suppliers.  However,  the  Turkey
     Segment  purchases a significant portion of its feed  for  its
     turkeys in North Carolina from the Maxwell Group.

     (iv)    Patents,   Trademarks,  Licenses,   Franchises   and
             Concessions

     Seaboard uses the registered trademark of Seaboard.

     The  Pork Division uses registered trademarks relating to  its
     products, including  Seaboard Farms, Prairie  Fresh,  A  Taste
     Like  No Other,  Daily's,  Daily's Premium Meats  Since  1893,
     High Plains Bioenergy,  Prairie Fresh Prime,  Seaboard  Foods,
     Buffet   Brand,   Seaboard  Farms,  Inc.   and   Del   Pueblo.
     Seaboard  considers the use of these trademarks  important  to
     the marketing and promotion of its pork products.

     The  Marine Division uses the trade name Seaboard Marine   and
     Seaboard  Solutions   which  are  all  registered  trademarks.
     Seaboard  believes there is significant recognition  of  these
     trademarks in the industry and by many of its customers.

     Part of the sales within the Sugar Division are made under the
     Chango   brand  in  Argentina, where this  division  operates.
     Local  sales  prices are affected by government price  control
     and  sugar  import duties imposed by the Argentine government,
     impacting local volume sold, as well as imported and  exported
     volumes  to and from international markets.  Sourcing  in  the
     domestic  market  is  also  closely  monitored  by  the  local
     government.

<PAGE> 6


     Seaboard's   Power  Division  benefits  from  a   tax   exempt
     concession   granted  by  the  Dominican  Republic  government
     through 2012.

     The  Turkey Segment uses registered trademarks relating to its
     products,   including  Butterball   and   Carolina    Turkeys.
     Seaboard  considers the use of these trademarks  important  to
     marketing and promotion of its turkey products.

     Patents, trademarks, franchises, licenses and concessions  are
     not material to any of Seaboard's other divisions.

     (v)    Seasonal Business

     Sugar  prices  in  Argentina are generally  lower  during  the
     typical  sugarcane  harvest period between May  and  November.
     The  Turkey business is seasonal only on the whole  bird  side
     with  Thanksgiving and Christmas holidays driving the majority
     of those sales.  Seaboard's other divisions are not seasonally
     dependent to any material extent.

     (vi)   Practices Relating to Working Capital Items

     There  are  no  unusual  industry practices  or  practices  of
     Seaboard relating to working capital items.

     (vii)  Depending on a Single Customer or Few Customers

     Seaboard does not have sales to any one customer equal to  ten
     percent  or more of consolidated revenues.  The Pork  Division
     derives  approximately 11 percent of its revenues from  a  few
     customers  in Japan through one agent.  The Commodity  Trading
     and  Milling  Division derives a significant  portion  of  its
     operating  income  from sales to a non-consolidated  affiliate
     and  also  derives a significant portion of  its  income  from
     affiliates from this same affiliate.  The Power Division sells
     power  in  the  Dominican  Republic to  a  limited  number  of
     contract  customers and on the spot market accessed  primarily
     by   three  wholly  government-owned  distribution  companies.
     Approximately 34% of the Power Division's power generation  is
     provided for one government-owned distribution company under a
     short-term  contract for which Seaboard bears  a  concentrated
     credit  risk  as  this  customer,  from  time  to  time,   has
     significant past due balances.   No other division  has  sales
     to  a  few  customers which, if lost, would  have  a  material
     adverse effect on any such division or on Seaboard taken as  a
     whole.

     (viii) Backlog

     Backlog is not material to Seaboard's businesses.

     (ix) Government Contracts

     No material portion of Seaboard's business involves government
     contracts.

     (x)  Competitive Conditions

     Competition in Seaboard's Pork Division comes from  a  variety
     of   national,   international  and  regional  producers   and
     processors and is based primarily on product quality, customer
     service  and  price.   According  to  recent  publications  by
     Successful  Farming and Informa Economics, trade publications,
     Seaboard  ranks as one of the nation's top five pork producers
     (based  on  sows  in production) and top ten  pork  processors
     (based on daily processing capacity).

     Seaboard's ocean liner service for containerized cargoes faces
     competition  based on price, reliable sailing frequencies  and
     customer service.  Seaboard believes it is among the top  five
     ranking ocean liner services for containerized cargoes in  the
     Caribbean Basin based on cargo volume.

     Seaboard's sugar business owns one of the largest sugar  mills
     in Argentina and faces significant competition for sugar sales
     in  the local Argentine market.  Sugar prices in Argentina can
     fluctuate  compared to world markets due to current  Argentine
     government price control and protection policies.

     Seaboard's   Power  Division  is  located  in  the   Dominican
     Republic.   Power generated by this division is  sold  on  the
     spot market or to contract customers at prices primarily based
     on market conditions rather than cost-based rates.

     Competition  for the Turkey Segment comes from  a  variety  of
     national  and regional producers and processors and  is  based
     primarily  on  product quality, customer  service  and  price.
     Butterball  ranks  as  one of the nation's  top  three  turkey
     producers (based on live production).

     (xi) Research and Development Activities

     Seaboard   and  its  Turkey  Segment  conducts  research   and
     development   activities  focused  on   various   aspects   of

<PAGE> 7

     Seaboard's  vertically integrated pork and  turkey  processing
     system,   including  improving  product  quality,   production
     processes, animal genetics, nutrition and health.  Incremental
     costs incurred to perform these tests are expensed as incurred
     and are not material to operating results.

     (xii)     Environmental Compliance

     Seaboard  and  its  Turkey  Segment are  subject  to  numerous
     Federal,   state   and  local  provisions  relating   to   the
     environment  which require the expenditure  of  funds  in  the
     ordinary course of business.  Seaboard and its Turkey  Segment
     do  not  anticipate  making expenditures for  these  purposes,
     which,  in  the aggregate would have a material or significant
     effect  on  Seaboard's  financial  condition  or  results   of
     operations.

     (xiii)    Number of Persons Employed by Registrant

     As  of December 31, 2010, Seaboard, excluding non-consolidated
     affiliates, had 10,865 employees, of whom 5,778 were  employed
     in  the  United  States.   Approximately  2,000  employees  in
     Seaboard's Pork Division were covered by collective bargaining
     agreements  as  of December 31, 2010.  Seaboard considers  its
     employee relations to be satisfactory.

(d)  Financial Information about Geographic Areas

In  addition  to  the  narrative  disclosure  provided  below,  the
financial information relating to export sales required by  Item  1
of  Form  10-K is incorporated herein by reference to  Note  13  of
Seaboard's Consolidated Financial Statements appearing on pages  55
through 59 of Seaboard's Annual Report to Stockholders furnished to
the Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13
to this report.

Seaboard  considers  its  relations with  the  governments  of  the
countries  in  which  its foreign subsidiaries and  affiliates  are
located  to  be  satisfactory, but foreign  operations  in  lesser-
developed countries are subject to risks of doing business such  as
potential  civil  unrests and government instabilities,  increasing
the   exposure  to  potential  expropriation,  confiscation,   war,
insurrection,  civil strife and revolution, sales  price  controls,
currency  inconvertibility and devaluation, and  currency  exchange
controls.  To minimize certain of these risks, Seaboard has insured
certain  investments  in its affiliate flour  mills  in  Democratic
Republic of Congo, Haiti, Lesotho, Republic of Congo and Zambia, to
the  extent  available and deemed appropriate  against  certain  of
these  risks  with the Overseas Private Investment Corporation,  an
agency  of  the  United States Government.  At  the  date  of  this
report, Seaboard is not aware of any situations which could have  a
material  effect on Seaboard's business, although the January  2010
earthquake in Haiti could result in civil unrest over a  period  of
time  if  local  conditions  do not improve  from  continuing  poor
conditions.

(e)  Available Information

Seaboard electronically files with the Commission annual reports on
Form  10-K, quarterly reports on Form 10-Q, current reports on Form
8-K  and  amendments to those reports pursuant to Section 13(a)  or
15(d)  of  the  Exchange Act.  The public may  read  and  copy  any
materials filed with the Commission at their public reference  room
located  at 100 F Street N.E., Washington, D.C. 20549.  The  public
may obtain further information concerning the public reference room
and  any  applicable  copy  charges, as  well  as  the  process  of
obtaining copies of filed documents by calling the Commission at 1-
800-SEC-0330.

The Commission maintains an internet website that contains reports,
proxy  and  information statements, and other information regarding
electronic filers at www.sec.gov.  Seaboard provides access to  its
most recent Form 10-K, 10-Q and 8-K reports, and any amendments  to
these reports, on its internet website, www.seaboardcorp.com,  free
of  charge,  as soon as reasonably practicable after those  reports
are electronically filed with the Commission.

Please note that any internet addresses provided in this report are
for   information  purposes  only  and  are  not  intended  to   be
hyperlinks.  Accordingly, no information provided at such  Internet
addresses  is  intended  or  deemed to be  incorporated  herein  by
reference.

Item 1A.  Risk Factors

Seaboard  has  identified important risks  and  uncertainties  that
could  affect  the  results of operations, financial  condition  or
business  and  that  could  cause them to  differ  materially  from
Seaboard's historical results of operations, financial condition or
business, or those contemplated by forward-looking statements  made
herein  or elsewhere, by, or on behalf of, Seaboard.  Factors  that
could cause or contribute to such differences include, but are  not
limited to, those factors described below.

<PAGE> 8

(a) General

  (1)  Seaboard's Operations are Subject to the  General  Risks  of
       the  Food Industry.  The  divisions of the business that are
       in the food  products  manufacturing industry are subject to
       the risks posed by:

         -    food spoilage or food contamination;

         -    evolving consumer  preferences and  nutritional   and
              health-related concerns;

         -    federal,  state,  national, provincial and local food
              processing controls;

         -    consumer product liability claims;

         -    product tampering; and

         -    the  possible   unavailability   and/or   expense   of
              liability insurance.

       If one or more of these risks were to materialize, Seaboard's
       revenues could  decrease,  costs  of  doing  business   could
       increase, and Seaboard's operating results could be adversely
       affected.

  (2)  Foreign  Political and Economic Conditions Have a Significant
       Impact  on  Seaboard's  Business.   Seaboard  is  a   diverse
       agribusiness   and   transportation   company   with   global
       operations  in   several  industries.  Most  of the sales and
       costs of Seaboard's divisions are significantly influenced by
       worldwide  fluctuations  in  commodity  prices  or changes in
       foreign  political  and  economic  conditions.   Accordingly,
       sales,  operating  income  and  cash  flows   can   fluctuate
       significantly  from  year  to year.  In addition,  Seaboard's
       international  activities  pose  risks not faced by companies
       that  limit  themselves to United States markets. These risks
       include:

         -    changes in foreign currency exchange rates;

         -    foreign currency exchange controls;

         -    changes  in a specific country's or region's political
              or  economic  conditions,  particularly  in   emerging
              markets;

         -    hyperinflation;

         -    heightened customer credit and execution risk;

         -    tariffs, other trade protection measures and import or
              export licensing requirements;

         -    potentially negative consequences  from changes in tax
              laws;

         -    different   legal   and   regulatory   structures  and
              unexpected    changes   in   legal    and   regulatory
              requirements; and

         -    negative  perception  within  a  foreign  country of a
              United  States  company doing business in that foreign
              country.

       Seaboard cannot provide assurance that it will be  successful
       in competing effectively in international markets.

  (3)  Deterioration  of Economic Conditions Could Negatively Impact
       Seaboard's  Business.   Seaboard's  business may be adversely
       affected by changes in national or global economic conditions,
       including inflation, interest rates, availability of  capital
       markets,  consumer  spending  rates,  energy availability and
       costs and the  effects  of governmental initiatives to manage
       economic conditions.  Any such changes could adversely affect
       the  demand  for  our  meat  products,  grains  and  shipping
       services,  or  the  cost  and  availability of our needed raw
       materials  and  packaging   materials,   thereby   negatively
       affecting our financial results.  The current    national and
       global economic conditions, could, among other things:

         -    impair  the   financial   condition  of  some  of  our
              customers  and  suppliers  thereby increasing customer
              bad  debts  or  non-performance   by   customers   and
              suppliers;

         -    negatively impact global demand for protein and grain-
              based  products, which could result  in a reduction of
              sales, operating income and cash flows;

         -    decrease  the  value  of our investments in equity and
              debt securities, including pension plan assets; and

         -    impair the financial viability of our insurers.

  (4)  Ocean  Transportation  Has  Inherent Risks.  Seaboard's owned
       and  chartered vessels along with related cargoes are at risk
       of being  damaged or lost because of events such as:

         -    marine disasters;

         -    bad weather;

         -    mechanical failures;

         -    grounding, fire, explosions and collisions;

         -    human error; and

         -    war, piracy and terrorism.

<PAGE> 9

       All  of  these  hazards  can  result  in  death  or injury to
       persons,  loss  of property, environmental damages, delays or
       rerouting.   If one of Seaboard's vessels were involved in an
       accident, the  resulting media coverage could have a material
       adverse  effect on  Seaboard's  business, financial condition
       and  results  of operations.

  (5)  Seaboard's Common Stock is Thinly Traded and Subject to Daily
       Price  Fluctuations.  The common stock of Seaboard is closely
       held  (73.5% is  collectively owned by Seaboard Flour and SFC
       Preferred LLC, which are owned by S. Bresky and other members
       of the Bresky family)  and  thinly traded on a daily basis on
       the  NYSE  Amex  Equities.  Accordingly, the price of a share
       of common stock can fluctuate more significantly from day-to-
       day than that  of  a  share  of  widely  held  stock  that is
       actively traded on a daily basis.

(b) Pork Division

  (1)  Fluctuations in  Commodity Pork Prices Could Adversely Affect
       Seaboard's   Results   of   Operations.   Sales   prices  for
       Seaboard's  pork  products  are  directly  affected  by  both
       domestic and world wide  supply  and demand for pork products
       and other proteins, all of which are determined by constantly
       changing market forces of supply  and demand as well as other
       factors  over  which  Seaboard  has  little   or  no control.
       Commodity pork prices  demonstrate  a  cyclical  nature  over
       periods  of  years, reflecting changes in the supply of fresh
       pork and  competing  proteins on  the market, especially beef
       and  chicken.   Seaboard's  results  of  operations  could be
       adversely affected by fluctuations in pork commodity prices.

  (2)  Increases  in  Costs  of Seaboard's Feed Components  and  Hog
       Purchases  Could  Adversely  Affect   Seaboard's   Costs  and
       Operating  Margins.  Feed  costs  are  the  most  significant
       single component of  the   cost  of  raising  hogs and can be
       materially affected by commodity  price fluctuations for corn
       and soybean meal.   The  results  of Seaboard's Pork Division
       can be negatively affected by  increased  costs of Seaboard's
       feed  components.   The  recent  increase in construction and
       operation of ethanol plants has elevated this  risk as it has
       increased  the  competing   demand   for   feed  ingredients,
       primarily corn.  Similarly, accounting for approximately  25%
       of Seaboard's total hogs slaughtered, the cost of third party
       hogs purchased fluctuates with market conditions and can have
       an impact  on Seaboard's total costs.  The cost and supply of
       feed components and the third party hogs that we purchase are
       determined by constantly changing market forces of supply and
       demand,  which  are  driven  by matters over which we have no
       control, including weather,  current  and projected worldwide
       grain stocks and prices, grain export prices and supports and
       governmental   agricultural   policies.  Seaboard attempts to
       manage certain of these risks through the use    of financial
       instruments,  however   this  may  also  limit   its  ability
       to participate in gains from favorable commodity fluctuations.
       Unless  wholesale  pork   prices   correspondingly  increase,
       increases in  the prices  of Seaboard's feed components or in
       the cost of third party hogs purchased would adversely affect
       Seaboard's operating margins.

  (3)  Seaboard  May  be  Unable to Obtain Appropriate Personnel  at
       Remote Locations. The remote locations of the pork processing
       plant  and  live  hog  operations,  and  a  more  restrictive
       national  policy  on  immigration could negatively affect the
       availability and  cost  of  labor.  Seaboard  is dependent on
       having  sufficient  properly  trained  operations  personnel.
       Attracting and retaining qualified  personnel is important to
       Seaboard's success.  The inability to  acquire and retain the
       services of such personnel could  have  a  material   adverse
       effect on Seaboard's operations.

  (4)  The  Loss  of  Seaboard's Sole Hog Processing Facility  Could
       Adversely  Affect   Seaboard's   Business.   Seaboard's  Pork
       Division is  largely  dependent on the continued operation of
       a single  hog  processing facility.  The loss of or damage to
       this  facility  for   any  reason - including  fire, tornado,
       governmental action or other reason  - could adversely affect
       Seaboard and Seaboard's  pork business.

  (5)  Environmental  Regulation and Related Litigation Could Have a
       Material  Adverse  Effect on Seaboard.  Seaboard's operations
       and  properties  are  subject  to  extensive and increasingly
       stringent laws  and  regulations  pertaining  to, among other
       things,  odors,   the   discharge   of   materials  into  the
       environment  and  the  handling  and  disposition  of  wastes
       (including solid and hazardous wastes) or  otherwise relating
       to  protection  of  the  environment.  Failure to comply with
       these laws and regulations and any future changes to them may
       result  in  significant  consequences  to Seaboard, including
       civil  and  criminal  penalties,  liability  for  damages and
       negative publicity.  Some requirements applicable to Seaboard
       may  also  be  enforced  by  citizen  groups.   Seaboard  has
       incurred, and  will continue to incur, operating expenditures
       to comply with these laws and regulations.

  (6)  Health  Risk  to Livestock Could Adversely Affect Production,
       the  Supply  of  Raw  Materials   and   Seaboard's  Business.
       Seaboard  is  subject  to  risks  relating to its  ability to
       maintain animal health  and   control  diseases.  The general
       health of the hogs and the  reproductive  performance  of the
       sows can have an adverse impact on  production and production
       costs,  the  supply  of  raw  material  to   Seaboard's  pork
       processing operations and consumer confidence.  If Seaboard's
       hogs  are  affected  by  disease,  Seaboard  may  be required
       to  destroy infected livestock, which could adversely  affect

<PAGE> 10

       Seaboard's  production  or  ability  to  sell  or  export its
       products.  Moreover, the herd health of third party suppliers
       could adversely affect  the supply and cost of hogs available
       for purchase  by  Seaboard.  Adverse publicity concerning any
       disease or  health concern could also cause customers to lose
       confidence  in  the  safety  and  quality  of Seaboard's food
       products.

  (7)  If  Seaboard's  Pork Products Become Contaminated, We May  be
       Subject  to  Product  Liability  Claims  and Product Recalls.
       Pork  products  may  be  subject  to contamination by disease
       producing  organisms.  These organisms are generally found in
       the  environment  and   as   a   result,  regardless  of  the
       manufacturing  practices  employed, there is a risk that they
       could be present in Seaboard's  processed  pork products as a
       result of food processing.   Once  contaminated products have
       been shipped for distribution, illness  and  death may result
       if the organisms are not eliminated at the further processing,
       foodservice or consumer  level.  Even an inadvertent shipment
       of contaminated products is a violation of law  and  may lead
       to increased risk of exposure to product liability    claims,
       product  recalls  and increased scrutiny by federal and state
       regulatory agencies and may have a material adverse effect on
       Seaboard's  business,  reputation,   prospects,   results  of
       operations and financial condition.

  (8)  Corporate Farming Legislation Could Result in the Divestiture
       or  Restructuring  of   Seaboard's   Pork   Operations.   The
       development  of  large   corporate  farming  operations   and
       concentration  of  hog  production in larger-scale facilities
       has engendered opposition  from  residents of states in which
       Seaboard conducts its pork processing and live hog operations.
       From time-to-time, corporate  farming  legislation  has  been
       introduced   in   the   United   States Senate and  House  of
       Representatives, as well as in  several  state  legislatures.
       These proposed anti-corporate farming bills have     included
       provisions  to  prohibit  or  restrict  meat packers, such as
       Seaboard,  from owning or controlling livestock intended  for
       slaughter,    which     would    require    divestiture    or
       restructuring of Seaboard's operations.

  (9)  International   Trade   Barriers   Could   Adversely   Affect
       Seaboard's   Pork   Operations.  This   division   realizes a
       significant  portion  of  its  revenues  from   international
       markets, particularly Japan and Mexico.   International sales
       are subject to risks related  to general economic conditions,
       imposition  of  tariffs,  quotas,  trade  barriers  and other
       restrictions,    enforcement    of    remedies   in   foreign
       jurisdictions  and  compliance  with applicable foreign laws,
       and  other  economic and  political uncertainties.  These and
       other risks  could   result  in  border  closings  or   other
       international  trade   barriers  having  an adverse effect on
       Seaboard's earnings.

 (10)  Discontinuation   of    Tax    Credits  for  Biodiesel  Could
       Adversely  Affect Seaboard's Results of Operations.  Seaboard
       obtains  Federal  and State tax credits for the  biodiesel it
       produces  and  sells.   The  Federal  tax  credit  expired on
       December  31,  2009,  but  was renewed  by  Congress  in late
       December  2010  retroactive to January  1,  2010  with  a new
       expiration  date  of December 31, 2011. If Congress  does not
       extend  this  tax  credit  beyond  2011  and  other   factors
       including  government  mandates to use biofuels don't  create
       sufficient demand, Seaboard's results of operations could  be
       adversely  affected  and  the  recorded  value  of  property,
       plant  and  equipment  related  to  the  biodiesel processing
       facility  could be impaired.

 (11)  Operations    of     Biodiesel  Production   Facility.    The
       profitability  of  Seaboard's   biodiesel   plant   could  be
       adversely affected  by  various factors, including the market
       price  of pork and other  animal  fat which  is  utilized  to
       produce  biodiesel,   and   the  market  price for biodiesel.
       Unfavorable changes in  these prices over extended periods of
       time could adversely  affect Seaboard's results of operations
       and  could result in the potential impairment of the recorded
       value  of  the  property, plant and equipment related to this
       facility.

(c) Commodity Trading & Milling Division

  (1)  Seaboard's  Commodity  & Milling Division is Subject to Risks
       Associated   with    Foreign    Operations.   This   division
       principally  operates  in  Africa, Bermuda, South America and
       the  Caribbean  and,  in   most  cases, in what are generally
       regarded to  be  lesser   developed countries.  Many of these
       foreign operations are subject  to risks of doing business in
       lesser-developed  countries  which  are  subject to potential
       civil unrests and government instabilities,    increasing the
       exposure  to   potential  expropriation,  confiscation,  war,
       insurrection,   civil   strife   and   revolution,   currency
       inconvertibility  and  devaluation,  and  currency   exchange
       controls,  in  addition  to  the risks of overseas operations
       mentioned  in  clause  (a)(2)   above.  In  addition, foreign
       government   policies   and  regulations  could  restrict the
       purchase of various grains, reducing  or  limiting Seaboard's
       ability to access grains or  to  limit Seaboard's sales price
       for grains sold in local markets.

  (2)  Fluctuations in Commodity Grain Prices Could Adversely Affect
       the  Business  of  Seaboard's  Commodity &  Milling Division.
       This  division's   sales   are  significantly  affected    by
       fluctuating worldwide prices for various commodities, such as
       wheat, corn, soybeans  and rice.  These prices are determined
       by constantly changing  market forces of supply and demand as
       well as  other  factors  over which Seaboard has little or no
       control.   North  American  and European

<PAGE> 11

       subsidized  wheat  and  flour exports, including donated food
       aid, and world-wide and local crop production can  contribute
       to  these  fluctuating  market  conditions  and  can  have  a
       significant  impact  on the  trading  and milling businesses'
       sales,  value  of commodities held in inventory and operating
       income.   Seaboard's results of operations could be adversely
       affected by  fluctuations in commodity prices.

  (3)  Seaboard's  Commodity  & Milling  Division Largely Depends on
       the  Availability  of  Chartered  Ships.  Most  of Seaboard's
       third party  trading  is  transported  with  chartered ships.
       Charter hire rates,  influenced by available charter capacity
       and demand for worldwide  trade  in bulk cargoes, port access
       and  throughput  time,  and  related  fuel  costs  can impact
       business volumes and margins.

  (4)  This  Division  Uses a Material Amount of Derivative Products
       to  Manage  Certain  Market  Risks.  The  commodity   trading
       portion  of  the  business   enters   into  various commodity
       derivatives,  foreign  exchange    derivatives   and  freight
       derivatives to create what management believes is an economic
       hedge for commodity trades it executes or intends  to execute
       with its customers.  From time to  time,  this portion of the
       business may enter into speculative   derivative transactions
       related to its market risks.  Failure to  execute or improper
       execution of a derivative position or a firmly committed sale
       or purchase contract, a speculative transaction that   closes
       without  the desired result or exposure to counter party risk
       could have an adverse impact on the results of operations and
       liquidity.

  (5)  This  Division  is  Subject to Higher than Normal  Risks  for
       Attracting  and  Retaining  Key  Personnel.  In the commodity
       trading  environment,  a  loss  of  a key  employee such as a
       commodity trader  can  have  a negative impact resulting from
       the loss of revenues as  personal  customer relationships can
       be  vital  to  obtaining  and retaining business with various
       foreign customers.  In the milling portion of  this division,
       employing and retaining  qualified expatriate  personnel is a
       key element of success given the difficult living conditions,
       the  unique  operating  environments  and  the  reliance on a
       relatively   small  number  of  executives  to  manage   each
       individual location.

(d) Marine Division

  (1)  The   Demand  for  Seaboard's Marine Division's Services  Are
       Affected by International Trade and Fluctuating Freight Rates.
       This  division provides containerized cargo shipping services
       primarily  from  the  United  States  to twenty-six different
       countries  in the Caribbean Basin, Central and South America.
       In addition to  the risks of overseas operations mentioned in
       clause (a)(2) above,  fluctuations  in  economic  conditions,
       unstable  or  hostile  local  political  situations  in   the
       countries in which Seaboard operates can affect import/export
       trade volumes and the price of container  freight  rates  and
       adversely affect  Seaboard's  results  of operations.

  (2)  Chartered  Ships  Are  Subject  to Fluctuating  Rates.   Time
       charter  expenses are one of the division's largest expenses.
       Certain ships  are  under charters longer than one year while
       others  are less than one year.  These costs can vary greatly
       due to a number of factors including the worldwide supply and
       demand  for  shipping.  It  is  not  possible to determine in
       advance whether a  charter contract for more or less than one
       year will be favorable to  Seaboard's business.  Accordingly,
       entering into long-term charter hire contracts during periods
       of decreasing charter hire  costs  or short term charter hire
       contracts during periods  of  increasing  charter  hire costs
       could  have  an  adverse  effect  on  Seaboard's  results  of
       operation.

  (3)  Increased   Fuel  Prices   May  Adversely  Affect  Seaboard's
       Business.  Ship  fuel  expenses  are  one  of  the division's
       largest expenses.  These costs can vary greatly from year-to-
       year depending  on  world  fuel prices. Also, but to a lesser
       extent, fuel price  increases  can  impact the cost of inland
       transportation costs.

  (4)  Hurricanes  May  Disrupt  Operations in the Caribbean  Basin.
       Seaboard's port operations throughout the Caribbean Basin can
       be  subject  to  disruption  due to hurricanes, especially at
       Seaboard's major  ports in Miami, Florida and Houston, Texas,
       which  could  have  an  adverse  effect  on  our  results  of
       operations.

<PAGE> 12

  (5)  Seaboard  is Subject to Complex Laws and Regulations that May
       Adversely Affect the Revenues, Cost, Manner or Feasibility of
       Doing Business.  Federal, state and local laws  and  domestic
       and  international  regulations  governing  worker health and
       safety, environmental protection, port and terminal security,
       and  the operation of vessels significantly affect Seaboard's
       operations,  including  rate  discussions  and  other related
       arrangements.  Many aspects of the marine industry, including
       rate  agreements,  are  subject  to   extensive  governmental
       regulation by the Federal Maritime Commission, the U.S. Coast
       Guard,  and  U.S.  Customs  and  Border  Protection,  and  to
       regulation  by  private  industry  organizations.  Compliance
       with applicable laws, regulations and standards  may  require
       installation  of  costly  equipment  or  operational changes,
       while the failure to comply may result in  administrative and
       civil penalties, criminal sanctions or  the     suspension or
       termination  of  Seaboard's  operations  or  detention of its
       vessels. In addition, future changes in laws, regulations and
       standards,  including  allowed  freight  rate discussions and
       other related arrangements, may result in additional costs or
       a reduction in revenues.

(e) Sugar Division

  (1)  The  Success of this Division Depends on the Condition of the
       Argentinean  Economy  and  Political  Climate.  This division
       operates  a  sugar  mill  and  alcohol production facility in
       Argentina,  locally  growing   a   substantial   portion   of
       the sugar cane processed at the mill.   The majority  of  the
       sales  are  within  Argentina.       Fluctuations in economic
       conditions or changes in the Argentine  political climate can
       have an impact on the costs of operations,  the  sales prices
       of products and export opportunities and the exchange rate of
       the Argentine peso to the U.S. dollar.  In this regard, local
       sales prices are affected  by  government  price  control and
       sugar   import  duties  imposed  by the Argentine government,
       impacting local volume sold, as well as imported and exported
       volumes to and from  international markets.  If import duties
       are  changed, this could have a negative impact on Seaboard's
       sale  price  of  its  products.  In  addition, the  Argentine
       government  attempts  to  control  inflation  through   price
       controls  on  commodities,  including   sugar,   which  could
       adversely impact the local sales price of its   products  and
       the results of operations for this  division.  A  devaluation
       of  the  Argentine  peso  would  have  a  negative  impact on
       Seaboard's financial position.

  (2)  This  Division  is  Subject to the Risks that Are Inherent in
       any  Agricultural Business.  Seaboard's results of operations
       for  this  division  may  be  adversely  affected by numerous
       factors over which  we  have  little  or  no control and that
       are  inherent   in   any  agricultural   business,  including
       reductions  in  the  market  prices  for Seaboard's products,
       adverse weather and  growing  conditions,  pest  and  disease
       problems,   and    new   government    regulations  regarding
       agriculture  and  the marketing of agricultural products.  Of
       these  risks,  weather  particularly can adversely affect the
       amount and quality of the sugar cane produced by Seaboard and
       Seaboard's competitors located in other regions of Argentina.

  (3)  The   Loss  of   Seaboard's  Sole Processing  Facility  Would
       Adversely  Affect  the Business of This Division.  Seaboard's
       Sugar  Division  is  largely  dependant   on   the  continued
       operation of  a  single  processing facility.  The loss of or
       damage  to  this  facility  for  any reason - including fire,
       tornado, governmental action, labor unrest resulting in labor
       strikes  or  other  reasons - would  adversely   affect   the
       business of this division.

  (4)  Labor  Relations.  This  division  is dependent on  unionized
       labor  at  its  single  sugar mill in Argentina.  The current
       nature of the political environment in Argentina makes normal
       labor  relations  very  challenging.   Contributing  to   the
       situation are the policies of Argentina's National Government,
       the failure of the Argentine  courts  to  enforce contractual
       obligations  with   unions   and   basic   property   rights.
       Interruptions in production as a result of labor   unrest can
       adversely impact the quantity of sugar cane harvested and the
       amount  of  sugar and alcohol produced and can interfere with
       the  distribution  of  products stored at the facility in the
       Salta Province.

(f) Power Division

  (1)  This  Division  is Subject to Risks of Doing Business in  the
       Dominican Republic.  This division operates in the  Dominican
       Republic   (DR).  In   addition   to   significant   currency
       fluctuations  and  the  other  risks  of  overseas operations
       mentioned  in  clause  (a)(2)   above,   this   division  can
       experience  difficulty  in  obtaining  timely  collections of
       trade  receivables  from   the    government  partially-owned
       distribution companies or  other  companies  that  must  also
       collect  from  the  government  in  order to make payments on
       their  accounts.  Currently,  the  DR  does  not allow a free
       market to enable prices to rise with demand which would limit
       our profitability in  this  business.  The government has the
       ability to arbitrarily  decide which power units will be able
       to operate, which could have  adverse  effects  on results of
       operations.

<PAGE> 13

  (2)  Increases  in  Fuel  Costs Could Adversely Affect  Seaboard's
       Operating  Margins.  Fuel  is  the  largest cost component of
       this  division's   business  and,  therefore,  margins may be
       adversely  affected by fluctuations in fuel if such increases
       can not be fully passed to customers.

  (3)  Seaboard  could Incur Significant Damages if it Fails to Meet
       Obligations Under  A Power Barge Sale Agreement.   Seaboard's
       agreement to sell its Dominican Republic barges requires that
       it  meet  certain performance standards at closing.  If these
       standards  are  not  met,  Seaboard would be in breach of the
       agreement and may incur significant damages for that breach.

(g) Turkey Segment

  (1)  Fluctuations  in  Commodity  Turkey  Prices  Could  Adversely
       Affect  the  Results of Operations.  Sales prices for  turkey
       products are  directly  affected  by both  domestic and world
       wide  supply  and  demand  for  turkey  products  which   are
       determined by constantly changing market forces of supply and
       demand as well as  other  factors  over which Butterball  has
       little  or  no  control.   Butterball's results of operations
       and  Seaboard's investment in Butterball could  be  adversely
       affected  by fluctuations in the turkey commodity prices.

  (2)  Increases  in  Costs  of  Turkey's Feed Components and Turkey
       Purchases Could Adversely Affect Costs and Operating  Margins.
       Feed costs are the most significant single component  of  the
       cost of  raising  turkeys and can be materially  affected  by
       commodity  price  fluctuations  for  corn,  soybean meal, and
       other commodity grain inputs.   Butterball's results may   be
       negatively affected by increased costs of the feed components.
       The recent increase in construction and operation of  ethanol
       plants has  elevated  this  risk  as  it  has  increased  the
       competing  demand   for feed ingredients,    primarily  corn.
       Butterball attempts to manage some of these risks through the
       use of financial instruments; however this may also limit its
       ability   to  participate  in gains from favorable  commodity
       fluctuations.  Unless wholesale turkey prices correspondingly
       increase,  increases  in  the  prices of  Butterball's   feed
       components  would  adversely affect  Butterball's  results of
       operations and Seaboard's investment in Butterball.

  (3)  Decreased  Perception  of  Value  in  the Butterball's  Brand
       Could Adversely Affect Sales Quantity and Price of Butterball
       Products.    Butterball is a premium brand name, built  on  a
       long  history  of  offering a quality product that  has  been
       differentiated  in  the market.  The value of the  Butterball
       brand  allows  for  sales of a higher unit price  than  other
       turkey   products.   In  order  to  maintain this  advantage,
       Butterball must continue to support the brand with successful
       marketing efforts. In addition, negative news reports for any
       reason   in  a  variety of  areas  on  the  company  or   the
       turkey/poultry industry could negatively  impact  this  brand
       perception  and  Butterball's  results  of  operation and the
       value of Seaboard's investment in Butterball.

  (4)  The  Loss   of   Butterball's   Primary   Further  Processing
       Facility   Could   Adversely  Affect Butterball's   Business.
       Although Butterball has five processing plants, Butterball is
       disproportionately  dependent  on  the continued operation of
       the  further  processing  plant in Mt. Olive, North  Carolina
       that  handles the significant production of further processed
       turkey products.   The loss of or damage to this facility for
       any  reason - including fire, tornado, governmental action or
       other  reason  - could  adversely  affect   the   results  of
       operation  for  Butterball   and  the  value  of   Seaboard's
       investment in Butterball.

  (5)  If  Butterball's  Turkey  Products  Become  Contaminated, the
       Company  May  be  subject  to  Product  Liability  Claims and
       Product  Recalls.    Turkey  products  may  be   subject   to
       contamination by disease producing organisms. These organisms
       are generally found in the environment and as a result, there
       is  a  risk  that  they  may  contaminate  products.  Even an
       inadvertent shipment of  contaminated products is a violation
       of law and  may  lead  to  increased   risk  of  exposure  to
       product   liability   claims,  product  recalls and increased
       scrutiny by federal  and  state  regulatory  agencies and may
       have  a  material  adverse effect  on the company's business,
       reputation, and prospects.  This could adversely  affect  the
       results of  operations and financial condition of  Butterball
       and  the  value  of  the  Seaboards investment in Butterball.

  (6)  Health  Risk  to  Poultry  Could Adversely Affect Production,
       the   Supply  of  Raw  Materials and  Butterball's  Business.
       Butterball  is  subject to risks relating to its  ability  to
       maintain  animal  health and control  diseases.  The  general
       health  of  the turkeys and reproductive performance can have
       an adverse impact on production  and  production  costs,  the
       supply of raw material to Butterball's processing  operations
       and consumer confidence. If Butterball's turkeys are affected
       by  disease,  Butterball  may be required to destroy infected
       birds, which could adversely affect  Butterball's  production
       or  ability  to  sell  or  export  its  products.     Adverse
       publicity  concerning  any   disease or health concern  could
       also  cause customers  to  lose confidence in the safety  and
       quality of Butterball  food products, resulting in an adverse
       affect on Butterball's results of operations and the value of
       Seaboards investment in Butterball.

<PAGE> 14

  (7)  Butterball  May   be  Unable to Obtain Appropriate  Personnel
       at  Remote  Locations.  The remote locations of some  of  the
       turkey  processing  plants  and  live turkey operations along
       with  a  more  restrictive  national  policy  on  immigration
       could negatively affect the availability and cost  of  labor.
       Butterball is dependent on having sufficient properly trained
       operations  personnel.   Attracting  and  retaining qualified
       personnel is important to Butterball's success. The inability
       to  acquire  and  retain the services of such personnel could
       have a material adverse effect on Butterball's operations and
       the value of Seaboards investment in Butterball.

Item 1B.  Unresolved Staff Comments

None

Item 2.  Properties

(1)  Pork - Seaboard's Pork Division owns a hog processing plant in
Guymon,  Oklahoma,  which opened in 1995.  It has  a  daily  double
shift  capacity to process approximately 19,400 hogs and  generally
operates  at  capacity with additional weekend shifts depending  on
market conditions. Seaboard's hog production operations consist  of
the breeding and raising of approximately 4.0 million hogs annually
at facilities it primarily owns or at facilities owned and operated
by  third parties with whom it has grower contracts.  This business
owns  and  operates six centrally located feed mills which  have  a
combined  capacity  to  produce  approximately  1,700,000  tons  of
formulated  feed  annually  used primarily  to  support  Seaboard's
existing  hog  production,  and have the capability  of  supporting
additional  hog  production in the future.   These  facilities  are
located in Oklahoma, Texas, Kansas and Colorado.

Seaboard's  Pork  Division also owns two bacon  further  processing
plants  located  in  Salt  Lake City, Utah and  Missoula,  Montana.
These  plants are utilized near capacity throughout the year, which
is  a  combined  daily  smoking capacity of  approximately  300,000
pounds  of  raw  pork bellies. The Pork Division  also  operates  a
majority-owned ham-boning and processing plant in Mexico  that  has
the capacity to process 74.0 million pounds of ham annually.

The  Pork Division owns a processing plant in Guymon, Oklahoma with
the capacity to produce 30.0 million gallons of biodiesel annually,
which  is  currently produced from pork fat from Seaboard's  Guymon
pork  processing plant and from animal fat supplied by non-Seaboard
facilities.  The facility can also produce biodiesel from vegetable
oil.

(2)   Commodity Trading and Milling - Seaboard's Commodity  Trading
and  Milling  Division owns, in whole or in part,  grain-processing
and  related agribusiness operations in 14 countries which have the
capacity to mill approximately 6,400 metric tons of wheat and maize
per day.  In addition, Seaboard has feed mill capacity of in excess
of  200  metric tons per hour to produce formula animal feed.   The
milling  operations  located in Colombia,  Democratic  Republic  of
Congo, Ecuador, Guyana, Haiti, Kenya, Lesotho, Nigeria, Republic of
Congo, Sierra Leone, Uganda and Zambia own their facilities; and in
Kenya,  Lesotho,  Nigeria, Republic of Congo and Sierra  Leone  the
land  on  which  the  mills are located is leased  under  long-term
agreements.    Certain foreign milling operations  may  operate  at
less  than full capacity due to low demand related to poor consumer
purchasing  power,  excess milling capacity  in  their  competitive
environment  and European-subsidized wheat and flour  exports.   In
addition,  this  division  also  has  an  investment  through  non-
consolidate affiliates in poultry businesses operating in parts  of
Eastern and Southern Africa.  Seaboard also owns seven 9,000 metric-
ton  deadweight dry bulk carriers, one 23,400 metric ton deadweight
dry  bulk  carrier, and "time charters" (the charter of  a  vessel,
whereby the vessel owner is responsible to provide the captain  and
crew  necessary to operate the vessel) under short-term agreements,
between  13  and  44  bulk carrier ocean vessels  with  deadweights
ranging from 500 to 44,000 metric tons.

(3)   Marine  - Seaboard's Marine Division leases a 135,000  square
foot  off-port  warehouse and 81 acres of port  terminal  land  and
facilities  in  Miami, Florida which are used in its  containerized
cargo  operations.  Seaboard also leases an approximately  62  acre
cargo  handling  and  terminal facility in  Houston,  Texas,  which
includes several on-dock warehouses totaling approximately  690,000
square  feet  for  cargo storage.  At December 31,  2010,  Seaboard
owned 10 ocean cargo vessels with deadweights ranging from 2,600 to
19,500  metric  tons and time chartered 29 vessels under  contracts
that  typically range from approximately five months to  two  years
with  deadweights ranging from 3,400 to nearly 26,500 metric  tons.
Seaboard  also  owns  or leases dry, refrigerated  and  specialized
containers and other related equipment.

<PAGE> 15

(4)   Sugar  - Seaboard's Argentine Sugar Division owns  more  than
60,000  acres  of  planted sugarcane.  Depending  on  local  market
conditions,  this  business also purchases third  party  sugar  for
resale.   In  addition, this division owns  a  sugar  mill  with  a
current  capacity to process approximately 250,000 metric  tons  of
sugar  and  an  alcohol  distillery  with  a  current  capacity  of
approximately  14  million  gallons  of  alcohol  per  year.   This
capacity is sufficient to process all of the cane harvested by this
division  and  certain additional quantities purchased  from  third
party  farmers in the region.  The sugarcane fields and  processing
mill are located in northern Argentina in the Salta Province, which
experiences  seasonal rainfalls that may limit the harvest  season,
which  then  affects the duration of mill operations and quantities
of  sugar  produced.   During the second quarter  of  2011,  it  is
anticipated  that construction will be completed on a  40  megawatt
cogeneration power plant.

(5)   Power - Seaboard's Power Division owns two floating  electric
power  generating  facilities, consisting of  a  system  of  diesel
engines  mounted  onto barge-type vessels, with  a  combined  rated
capacity of approximately 112 megawatts, both located on the  Ozama
River  in Santo Domingo, Dominican Republic.  Seaboard operates  as
an  independent power producer.  Seaboard is not directly  involved
in  the  transmission and distribution facilities that deliver  the
power to the end users but does have contracts to sell directly  to
third party users.  See "Status of Product or Segment" under Item 1
of this report for discussion of the sale of the two barges and the
construction of a new replacement power barge.

(6)   Turkey  -  Seaboard's Turkey Segment has  a  total  of  seven
processing  plants  and  numerous  company  and  third  party  live
production facilities and feed milling operations, all of which are
located in Arkansas, Colorado, Kansas, Missouri and North Carolina.
These  plants  produce approximately one billion pounds  of  turkey
each year.

(7)   Other - Seaboard owns a jalapeno pepper processing plant  and
warehouse in Honduras.

In  addition  to  the information provided above,  the  information
under   "Principal  Locations"  of  Seaboard's  Annual  Report   to
Stockholders furnished to the Commission pursuant to Rule  14a-3(b)
and attached as Exhibit 13 to this report is incorporated herein by
reference.

Management believes that Seaboard's present facilities are adequate
and suitable for its current purposes.


Item 3.  Legal Proceedings

The  information  required by Item 3 of Form 10-K  is  incorporated
herein by reference to Note 11 of Seaboard's Consolidated Financial
Statements appearing on pages 53 and 54 of Seaboard's Annual Report
to  Stockholders furnished to the Commission pursuant to Rule  14a-
3(b) and attached as Exhibit 13 to this Report.

Item 4. Reserved

Executive Officers of the Registrant

The  following  table  lists  the executive  officers  and  certain
significant  employees of Seaboard.  Generally, executive  officers
are  elected  at  the  annual meeting of  the  Board  of  Directors
following the Annual Meeting of Stockholders and hold office  until
the  next  such annual meeting or until their respective successors
are  duly  chosen  and  qualified.  There are  no  arrangements  or
understandings pursuant to which any executive officer was elected.

Name (Age)                 Positions and Offices with Registrant and Affiliates

Steven J. Bresky (57)      President and Chief Executive Officer

Robert L. Steer  (51)      Senior Vice President, Chief Financial Officer

David M. Becker  (49)      Vice President, General Counsel and Secretary

Barry E. Gum (44)          Vice President, Finance and Treasurer

James L. Gutsch (57)       Vice President, Engineering

Ralph L. Moss (65)         Vice President, Governmental Affairs

David S. Oswalt (43)       Vice President, Taxation and Business Development

<PAGE> 16

David H. Rankin (39)       Vice President

Ty A. Tywater (41)         Vice President, Audit Services

John A. Virgo (50)         Vice President, Corporate Controller and
                           Chief Accounting Officer

Rodney K. Brenneman (46)   President, Seaboard Foods, LLC

David M. Dannov (49)       President, Seaboard Overseas and Trading Group

Edward A. Gonzalez (45)    President, Seaboard Marine Ltd.

Mr.  Steven  J. Bresky has served as President and Chief  Executive
Officer  since  July 2006 and previously as Senior Vice  President,
International  Operations of Seaboard from February  2001  to  July
2006.

Mr.  Steer  has  served as Senior Vice President,  Chief  Financial
Officer  of Seaboard since December 2006 and previously  as  Senior
Vice  President, Treasurer and Chief Financial Officer  from  2001-
2006.

Mr.  Becker  has  served  as Vice President,  General  Counsel  and
Secretary of Seaboard since December 2003.

Mr.  Gum  has  served as Vice President, Finance and  Treasurer  of
Seaboard  since  December 2006 and previously  as  Vice  President,
Finance from 2003-2006.

Mr.  Gutsch  has served as Vice President, Engineering of  Seaboard
since December 1998.

Mr.  Moss  has  served as Vice President, Governmental  Affairs  of
Seaboard since December 2003.

Mr.  Oswalt  has  served as Vice President, Taxation  and  Business
Development of Seaboard since December 2003.

Mr.  Rankin has served as Vice President of Seaboard since December
2010   and   previously  as  Director  of  Taxation  and   Business
Development since January 2006.

Mr.  Tywater  has  served  as  Vice President,  Audit  Services  of
Seaboard  since  November  2008 and previously  as  Internal  Audit
Director from 2002 to 2008.

Mr.  Virgo  has served as Vice President, Corporate Controller  and
Chief Accounting Officer of Seaboard since December 2003.

Mr.  Brenneman  has  served as President  of  Seaboard  Foods,  LLC
(previously Seaboard Farms Inc.) since June 2001.

Mr. Dannov has served as President of Seaboard Overseas and Trading
Group since August 2006 and previously as Vice President, Treasurer
of Seaboard Overseas and Trading Group from 1996 to 2006.

Mr. Gonzalez has served as President of Seaboard Marine, Ltd. since
January 2005.

                              PART II

Item 5.  Market for Registrant's Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities

In  December 2010, Seaboard declared and paid a dividend  of  $6.75
per  share  on  its  common  stock.  The increased  amount  of  the
dividend  (which  has  historically  been  $0.75  per  share  on  a
quarterly  basis or $3.00 per share on an annual basis) represented
payment  of the regular fourth quarter dividend of $0.75 per  share
and  a prepayment of the annual 2011 and 2012 dividends ($3.00  per
share  per year).  Seaboard does not intend to declare any  further
dividends  for the years 2011 and 2012. As discussed in Note  8  of
the consolidated financial statements appearing on pages 45 and  46
of the Seaboard Corporation Annual Report to Stockholders furnished
to the Commission pursuant to Rule 14a-3(b) and attached as Exhibit
13  to  this  Report  (which discussion is incorporated  herein  by
reference),  Seaboard's ability to declare  and  pay  dividends  is
subject  to limitations imposed by the note agreements referred  to
there.

Seaboard  has  not  established  any equity  compensation  plans  or
individual agreements for its employees under which Seaboard  common
stock,  or  options,  rights or warrants with  respect  to  Seaboard
common stock, may be granted.

<PAGE> 17

There  were  no purchases made by or on behalf of Seaboard  or  any
"affiliated  purchaser"  (as defined by  applicable  rules  of  the
Commission) of shares of Seaboard's common stock during the  fourth
quarter of the fiscal year covered by this report.

In  addition  to  the  information provided above,  the  information
required  by Item 5 of Form 10-K is incorporated herein by reference
to  (a)  the  information  under "Stockholder  Information  -  Stock
Listing," (b) the dividends per common share information and closing
market  price  range per common share information  under  "Quarterly
Financial  Data" and (c) the information under "Company  Performance
Graph"  appearing on pages 60, 10 and 9, respectively, of Seaboard's
Annual  Report to Stockholders furnished to the Commission  pursuant
to Rule 14a-3(b) and attached as Exhibit 13 to this report.

Item 6.  Selected Financial Data

The  information  required by Item 6 of Form 10-K  is  incorporated
herein  by  reference to the "Summary of Selected  Financial  Data"
appearing  on  page 8 of Seaboard's Annual Report  to  Stockholders
furnished to the Commission pursuant to Rule 14a-3(b) and  attached
as Exhibit 13 of this Report.

Item   7.    Management's  Discussion  and  Analysis  of  Financial
Condition and Results of Operations

The  information  required by Item 7 of Form 10-K  is  incorporated
herein  by  reference to "Management's Discussion and  Analysis  of
Financial Condition and Results of Operations" appearing  on  pages
11 through 25 of Seaboard's Annual Report to Stockholders furnished
to the Commission pursuant to Rule 14a-3(b) and attached as Exhibit
13 to this Report.

Item  7A.   Quantitative and Qualitative Disclosures  About  Market
Risk

The  information  required by Item 7A of Form 10-K is  incorporated
herein  by  reference  to  (a)  the  material  under  the  captions
"Derivative Instruments and Hedging Activities" within Note 1 and 9
of  Seaboard's Consolidated Financial Statements appearing on pages
36, 48 and 49 of Seaboard's Annual Report to Stockholders furnished
to the Commission pursuant to Rule 14a-3(b) and attached as Exhibit
13  to  this  Report,  and  (b)  the  material  under  the  caption
"Derivative   Information"  within  "Management's  Discussion   and
Analysis   of   Financial  Condition  and  Results  of  Operations"
appearing  on  pages  24  and  25 of Seaboard's  Annual  Report  to
Stockholders furnished to the Commission pursuant to Rule  14a-3(b)
and attached as Exhibit 13 to this Report.

Item 8.  Financial Statements and Supplementary Data

The  information  required by Item 8 of Form 10-K  is  incorporated
herein  by  reference  to  Seaboard's "Quarterly  Financial  Data,"
"Report   of   Independent  Registered  Public  Accounting   Firm,"
"Consolidated   Statements  of  Earnings,"  "Consolidated   Balance
Sheets,"  "Consolidated  Statements of Cash  Flows,"  "Consolidated
Statements  of  Changes  in  Equity"  and  "Notes  to  Consolidated
Financial Statements" appearing on page 10 and pages 27 through  59
of  Seaboard's  Annual  Report  to Stockholders  furnished  to  the
Commission pursuant to Rule 14a-3(b) and attached as Exhibit 13  to
this Report.

Item   9.   Changes  in  and  Disagreements  with  Accountants   on
Accounting and Financial Disclosure

Not applicable.

Item 9A.  Controls and Procedures

Evaluation  of Disclosure Controls and Procedures - As of  December
31,  2010, Seaboard's management has evaluated, under the direction
of   our   chief  executive  and  chief  financial  officers,   the
effectiveness of Seaboard's disclosure controls and procedures,  as
defined in Exchange Act rule 13a - 15(e).  Based upon and as of the
date  of  that  evaluation, Seaboard's chief  executive  and  chief
financial  officers  concluded that Seaboard's disclosure  controls
and  procedures were effective to ensure that information  required
to  be  disclosed  in the reports it files and  submits  under  the
Securities  Exchange Act of 1934 is recorded, processed, summarized
and  reported  as and when required.  It should be noted  that  any
system of disclosure controls and procedures, however well designed
and  operated,  can  provide  only reasonable,  and  not  absolute,
assurance  that the objectives of the system are met.  In addition,
the  design of any system of disclosure controls and procedures  is
based  in  part  upon  assumptions about the likelihood  of  future
events.   Due to these and other inherent limitations of  any  such
system,  there  can  be no assurance that any  design  will  always
succeed  in  achieving its stated goals under all potential  future
conditions.

Management's Report on Internal Control Over Financial Reporting  -
Information   required   by  Item  9A  of  Form   10-K   concerning
management's  report on Seaboard's internal control over  financial
reporting,   as   defined  in  Exchange  Act  rule   13a-15(f)   is
incorporated herein by reference to Seaboard's "Management's Report
on  Internal Control over Financial Reporting"

<PAGE> 18

appearing on page 26 of  Seaboard's Annual  Report  to Stockholders
furnished  to the Commission pursuant to Rule 14a-3(b) and attached
as Exhibit 13  to this report.

Registered   Public   Accounting  Firm's   Attestation   Report   -
Information  required by Item 9A of Form 10-K with respect  to  the
registered   public   accounting  firm's  attestation   report   on
Seaboard's   internal   controls  over   financial   reporting   is
incorporated   herein  by  reference  to  "Report  of   Independent
Registered  Public  Accounting  Firm"  appearing  on  page  27   of
Seaboard's   Annual  Report  to  Stockholders  furnished   to   the
Commission pursuant to Rule 14-3(b) and attached as Exhibit  13  to
this report.

Change  in  Internal  Controls  -  There  has  been  no  change  in
Seaboard's internal control over financial reporting that  occurred
during  the  fiscal  quarter  ended  December  31,  2010  that  has
materially affected, or is reasonably likely to materially  affect,
Seaboard's internal control over financial reporting.

Item 9B.  Other Information

None

                             PART III

Item 10.  Directors, Executive Officers and Corporate Governance

We  refer  you  to  the  information under the  caption  "Executive
Officers   of  Registrant"  appearing  immediately  following   the
disclosure in Item 4 of Part I of this report.

Seaboard  has  a  Code of Ethics Policy (the Code)  for  directors,
officers  (including our chief executive officer,  chief  financial
officer,   chief   accounting  officer,  controller   and   persons
performing  similar functions) and employees.  Seaboard has  posted
the  Code on its internet website, www.seaboardcorp.com, under  the
"About  Us"  tab  and  intends to disclose any future  changes  and
waivers to the Code by posting such information on that website.

In  addition  to  the information provided above,  the  information
required  by  Item  10  of  Form 10-K  is  incorporated  herein  by
reference  to (a) the disclosure relating to directors under  "Item
1:   Election  of  Directors" appearing on pages  5  through  7  of
Seaboard's  definitive proxy statement filed pursuant to Regulation
14A  for  the  2010  annual  meeting of Stockholders  ("2011  Proxy
Statement"),  (b)  the  disclosure  relating  to  Seaboard's  audit
committee  and "audit committee financial expert" and its  director
nomination  procedures  under "Board of  Directors  Information  --
Committees  of  the  Board  --  Audit  Committee"   and  "Board  of
Directors Information -- Director Nominations" appearing  on  pages
8  and  9  of  the  2011  Proxy  Statement,  and (c) the disclosure
relating  to  late filings of reports required under Section  16(a)
of  the  Securities   Exchange   Act  of 1934 under  "Section 16(a)
Beneficial Ownership Reporting Compliance" appearing on  page 27 of
the  2011 Proxy Statement.

Item 11.  Executive Compensation

The  information  required by Item 11 of Form 10-K is  incorporated
herein  by reference to (a) the disclosure relating to compensation
of  directors under "Board of Directors Information -- Compensation
of  Directors"  and "Employment Arrangements with  Named  Executive
Officers" appearing on page 9 and pages 12 and 13 of the 2011 Proxy
Statement,  and  (b)  the disclosure relating  to  compensation  of
executive   officers  under  "Executive  Compensation   and   Other
Information,"   "Benefit   Plans"   and   "Compensation   Committee
Interlocks  and  Insider  Participation,"  "Compensation  Committee
Report"  and  "Compensation Discussion and Analysis"  appearing  on
pages  10  and  11  and  pages 13 through  22  of  the  2011  Proxy
Statement.

Item  12.   Security  Ownership of Certain  Beneficial  Owners  and
Management and Related Stockholder Matters

Seaboard  has  not  established any equity  compensation  plans  or
individual agreements for its employees under which Seaboard common
stock,  or  options,  rights or warrants with respect  to  Seaboard
common stock may be granted.

In  addition  to  the information provided above,  the  information
required  by  Item  12  of   Form 10-K is  incorporated  herein  by
reference  to  the  disclosure under "Principal  Stockholders"  and
"Share Ownership of Management and Directors" appearing on pages  3
through 5 of the 2011 Proxy Statement.

<PAGE> 19

Item  13.   Certain  Relationships and  Related  Transactions,  and
Director Independence

The  information  required by Item 13 of Form 10-K is  incorporated
herein by reference to the disclosure under "Compensation Committee
Interlocks and Insider Participation" appearing on page 22  of  the
2011  Proxy Statement, and the disclosure under "Board of Directors
Information  -  Controlled Corporation"  and  "Board  of  Directors
Information - Committees of the Board" appearing on pages 7  and  8
of the 2011 Proxy Statement.

Item 14.  Principal Accounting Fees and Services

The  information  required by Item 14 of Form 10-K is  incorporated
herein  by  reference to the disclosure under "Item 2 Selection  of
Independent Auditors" appearing on pages 25 through 27 of the  2011
Proxy Statement.

                              PART IV

Item 15.  Exhibits, Financial Statement Schedules

(a)  The following documents are filed as part of this report:

  1.Consolidated financial statements.

     See Index to Consolidated Financial Statements on page F-1.

  2.Consolidated financial statement schedules.

     See Index to Consolidated Financial Statements on page F-1.

  3.Exhibits.

     3.1 Seaboard's    Restated   Certificate   of   Incorporation.
         Incorporated  herein  by  reference  to  Exhibit  3.1   of
         Seaboard's Form 10-Q for the quarter ended April 4, 2009.

     3.2 Seaboard's  By-laws, as amended.  Incorporated  herein  by
         reference  to  Exhibit  3.2 of Seaboard's  Form  10-K  for
         fiscal year ended December 31, 2005.

     4.1 Seaboard Corporation Note Purchase Agreement dated  as  of
         September 30, 2002 between Seaboard and various purchasers
         as   listed  in  the  exhibit.   Incorporated  herein   by
         reference to Exhibit 4.3 of Seaboard's Form 10-Q  for  the
         quarter ended September 28, 2002.

     4.2 Seaboard Corporation $7,500,000 6.21% Senior Note,  Series
         C,  due  September 30, 2012  issued pursuant to  the  Note
         Purchase  Agreement described above.  Incorporated  herein
         by  reference to Exhibit 4.6 of Seaboard's Form  10-Q  for
         the quarter ended September 28, 2002.

     4.3 Seaboard Corporation $31,000,000 6.92% Senior Note, Series
         D,  due  September 30, 2012  issued pursuant to  the  Note
         Purchase  Agreement described above.  Incorporated  herein
         by  reference to Exhibit 4.7 of Seaboard's Form  10-Q  for
         the quarter ended September 28, 2002.

     4.4 Amended and Restated Terminal Agreement between Miami-Dade
         County  and  Seaboard  Marine  Ltd.  for  Marine  Terminal
         Operations,  dated May 30, 2008.  Incorporated  herein  by
         reference to Exhibit 10.1 of Seaboard's Form 8-K dated May
         30, 2008.

     4.5 Amended  and  Restated Credit Agreement between  Borrowers
         and   Bank   of  America,  N.A.,  dated  July   10,   2008
         ($300,000,000 revolving credit facility expiring July  10,
         2013).   Incorporated herein by reference to Exhibit  10.1
         of Seaboard's Form 8-K dated July 10, 2008.

     4.6 Amendment No. 1 to Credit Agreement between Borrowers  and
         Bank of America N.A., dated December 17, 2010.

<PAGE> 20

   10.1* Seaboard  Corporation  409A  Executive   Retirement   Plan
         Amended and Restated Effective January 1, 2009 and   dated
         December 22, 2008,  amending  and  restating  the Seaboard
         Corporation Executive  Retirement Plan, 2005 Amendment and
         Restatement dated March 6, 2006.  Incorporated  herein  by
         reference  to  Exhibit  10.1 of  Seaboard's  Form 10-K for
         fiscal year ended December 31, 2008.

   10.2* Seaboard Corporation Executive  Deferred Compensation Plan
         as  Amended  and  Restated  Effective  January 1, 2009 and
         dated  December 22, 2008,  amending   and   restating  the
         Seaboard Corporation  Executive Deferred Compensation Plan
         dated December 29, 2005.  Incorporated herein by reference
         to  Exhibit 10.2 of  Seaboard's  Form 10-K for fiscal year
         ended December 31, 2008.

   10.3* Seaboard  Corporation  Executive  Retirement  Plan   Trust
         dated  November  5, 2004 between Seaboard Corporation  and
         Robert  L.  Steer  as  trustee.   Incorporated  herein  by
         reference to Exhibit 10.2 of Seaboard's Form 10-Q for  the
         quarter ended October 2, 2004.

   10.4* Seaboard   Corporation  Investment   Option   Plan   dated
         December  18,  2000.  Incorporated herein by reference  to
         Exhibit 10.7 of Seaboard's Form 10-K for fiscal year ended
         December 31, 2000.

   10.5  Marketing  Agreement dated February 2, 2004 by  and  among
         Seaboard Corporation, Seaboard Farms, Inc., Triumph  Foods
         LLC, and for certain limited purposes only, the members of
         Triumph  Foods LLC.  Incorporated herein by  reference  to
         Exhibit  10.2  of  Seaboard's Form 8-K dated  February  3,
         2004.

   10.6* Seaboard  Corporation  Retiree  Medical  Benefit  Plan  as
         Amended  and Restated Effective January 1, 2009 and  dated
         December  22,  2008, amending and restating  the  Seaboard
         Corporation  Retiree Medical Benefit Plan dated  March  4,
         2005.  Incorporated herein by reference to Exhibit 10.6 of
         Seaboard's  Form 10-K for fiscal year ended  December  31,
         2008.

   10.7* Seaboard   Corporation    Executive    Officers'     Bonus
         Policy.  Incorporated herein by reference to Exhibit 10.10
         of Seaboard's Form 10-K for fiscal year ended December 31,
         2005.

   10.8* Employment  Agreement  between  Seaboard  Corporation  and
         Steven  J. Bresky dated July 1, 2005.  Incorporated herein
         by  reference to Exhibit 10.1 of Seaboard's Form 10-Q  for
         the quarter ended July 2, 2005.

   10.9* Employment  Agreement  between  Seaboard  Corporation  and
         Robert  L. Steer dated July 1, 2005.  Incorporated  herein
         by  reference to Exhibit 10.2 of Seaboard's Form 10-Q  for
         the quarter ended July 2, 2005.

  10.10* Employment  Agreement  between  Seaboard  Farms, Inc.  and
         Rodney  K.  Brenneman  dated July 1,  2005.   Incorporated
         herein by reference to Exhibit 10.3 of Seaboard's Form 10-
         Q for the quarter ended July 2, 2005.

  10.11* Employment  Agreement  between  Seaboard  Corporation  and
         Edward  A.  Gonzalez  dated July  1,  2005.   Incorporated
         herein by reference to Exhibit 10.14 of Seaboard's Form 10-
         K for fiscal year ended December 31, 2006.

  10.12* Seaboard      Corporation      Nonqualified       Deferred
         Compensation  Plan  Effective January 1,  2009  and  dated
         December  22,  2008, amending and restating  the  Seaboard
         Corporation Nonqualified Deferred Compensation Plan  dated
         December  29,  2005.  Incorporated herein by reference  to
         Exhibit  10.12  of Seaboard's Form 10-K  for  fiscal  year
         ended December 31, 2008.

  10.13* Amendment   to   Employment  Agreement   between  Seaboard
         Corporation and Edward A. Gonzalez dated August  8,  2006.
         Incorporated  herein  by  reference  to  Exhibit  10.1  of
         Seaboard's Form 10-Q for the quarter ended July 1, 2006.

  10.14* Employment   Agreement    between    Seaboard     Overseas
         Trading  Group  and David M. Dannov dated  July  1,  2006.
         Incorporated  herein  by reference  to  Exhibit  10.17  of
         Seaboard's  Form 10-K for fiscal year ended  December  31,
         2006.

<PAGE> 21

  10.15* Second    Amendment    to   Employment  Agreement  between
         Seaboard Corporation and Edward A. Gonzalez dated  January
         17,  2007.   Incorporated herein by reference  to  Exhibit
         10.18  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2006.

  10.16* First   Amendment   to   Employment   Agreement    between
         Seaboard  Corporation and Steven J. Bresky dated  December
         15,  2008.  Incorporated herein by  reference  to  Exhibit
         10.16  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2008.

  10.17* First   Amendment   to   Employment   Agreement    between
         Seaboard  Corporation and Robert L. Steer  dated  December
         15,  2008.   Incorporated herein by reference  to  Exhibit
         10.17  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2008.

  10.18* First   Amendment   to   Employment   Agreement    between
         Seaboard Foods LLC, formerly known as Seaboard Farms Inc.,
         and   Rodney  K.  Brenneman  dated  December   15,   2008.
         Incorporated  herein  by reference  to  Exhibit  10.18  of
         Seaboard's  Form 10-K for fiscal year ended  December  31,
         2008.

  10.19* Third   Amendment   to   Employment   Agreement    between
         Seaboard Marine Ltd. and Edward A. Gonzalez dated December
         15,  2008.   Incorporated herein by reference  to  Exhibit
         10.19  of  Seaboard's  Form 10-K  for  fiscal  year  ended
         December 31, 2008.

  10.20* First   Amendment   to   Employment   Agreement    between
         Seaboard Overseas Trading Group and David M. Dannov  dated
         December  15,  2008.  Incorporated herein by reference  to
         Exhibit  10.20  of Seaboard's Form 10-K  for  fiscal  year
         ended December 31, 2008.

  10.21  Asset     Purchase    Agreement     by      and      among
         Transcontinental  Capital Corporation (Bermuda)  Ltd.  (as
         Seller),  Seaboard  Corporation  (as  Seller-Parent)   and
         Pueblo  Viejo Dominicana Corporation (as Buyer), dated  as
         of  September 23, 2008.  Incorporated herein by  reference
         to  Exhibit 10.21 of Seaboard's Form 10-K for fiscal  year
         ended December 31, 2008.

  10.22  Amendment   to    Asset    Purchase    Agreement    amount
         Transcontinental  Capital  Corporation   (Bermuda)   Ltd.,
         Seaboard Corporation and Pueblo Viejo dated as of March 2,
         2009.   Incorporated herein by reference to Exhibit  10.22
         of Seaboard's Form 10-K for fiscal year ended December 31,
         2008.

  10.23* Seaboard    Corporation     Cash     Balance     Executive
         Retirement  Plan  effective  January  1,  2009  and  dated
         December  18,  2009.  Incorporated herein by reference  to
         Exhibit  10.23  of Seaboard's Form 10-K  for  fiscal  year
         ended December 31, 2009.

  10.24* Seaboard   Marine Ltd. 401(k)  Excess    Plan    effective
         January 1, 2009 and dated December 18, 2009.  Incorporated
         herein by reference to Exhibit 10.2 of Seaboard's Form 10-
         K for fiscal year ended December 31, 2009.

  10.25* Amendment    No.  1   to  the  Seaboard  Corporation  Non-
         Qualified Deferred Compensation Plan effective January  1,
         2009 and dated December 17, 2009.  Incorporated herein  by
         reference  to  Exhibit 10.2 of Seaboard's  Form  10-K  for
         fiscal year ended December 31, 2009.

  10.26  Engineering,    Procurement   and   Construction  Contract
         dated  as  of  August  17, 2010 by  and  between  Seaboard
         Corporation and Wartsila Finland OY.  Incorporated  herein
         by  reference to Exhibit 10.1 of Seaboard's Form 10-Q  for
         the quarter ended October 2, 2010.

  10.27  Purchase  Agreement  by  and  among  Seaboard Corporation,
         Maxwell  Farms,  LLC,  Goldsboro Milling  Company  and  GM
         Acquisition, LLC as of September 9, 2010.

     13  Sections of Annual Report to security holders specifically
         incorporated herein by reference herein.

     21  List of subsidiaries.

   31.1  Certification of the Chief Executive Officer  Pursuant  to
         Exchange   Act  Rules  13a-14(a)/15d-14(a),   as   Adopted
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

   31.2  Certification of the Chief Financial Officer  Pursuant  to
         Exchange   Act  Rules  13a-14(a)/15d-14(a),   as   Adopted
         Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

<PAGE> 22

   32.1  Certification of the Chief Executive Officer  Pursuant  to
         18 U.S.C. Section 1350, as Adopted Pursuant to Section 906
         of the Sarbanes-Oxley Act of 2002.

   32.2  Certification of the Chief Financial Officer  Pursuant  to
         18 U.S.C. Section 1350, as Adopted Pursuant to Section 906
         of the Sarbanes-Oxley Act of 2002.

  *  Management contract or compensatory plan or arrangement.

(b)  Exhibits.

See exhibits identified above under Item 15(a)3.

(c)  Financial Statement Schedules.

See  financial  statement  schedules identified  above  under  Item
15(a)2.

<PAGE> 23

                           SIGNATURES

Pursuant  to  the  requirements of Section 13  or  15(d)  of  the
Securities  Exchange Act of 1934, the registrant has duly  caused
this  report  to  be  signed on its behalf  by  the  undersigned,
thereunto duly authorized.

                      SEABOARD CORPORATION

By /s/Steven J. Bresky                  By  /s/Robert L. Steer
   Steven J. Bresky, President and      Robert L. Steer, Senior Vice President,
   Chief Executive Officer              Chief Financial Officer (principal
   (principal executive officer)        financial officer)

Date: March 9, 2011                     Date: March 9, 2011



By /s/John A. Virgo
   John A. Virgo, Vice President, Corporate
   Controller and Chief Accounting Officer
   (principal accounting officer)

Date: March 9, 2011



Pursuant  to the requirements of the Securities Exchange  Act  of
1934,  this report has been signed below by the following persons
on  behalf  of registrant and in the capacities and on the  dates
indicated.

By /s/Steven J. Bresky                  By  /s/Edward I. Shifman, Jr.
   Steven J. Bresky, Director and           Edward I. Shifman, Jr., Director
   Chairman of the Board

Date: March 9, 2011                     Date: March 9, 2011



By /s/David A. Adamsen                  By  /s/Joseph E. Rodrigues
   David A. Adamsen, Director               Joseph E. Rodrigues, Director

Date: March 9, 2011                     Date: March 9, 2011



By /s/Douglas W. Baena
   Douglas W. Baena, Director

Date:  March 9, 2011

<PAGE> 24





              SEABOARD CORPORATION AND SUBSIDIARIES
     Index to Consolidated Financial Statements and Schedule
                      Financial Statements


                                                           Stockholders'
                                                         Annual Report Page

Report of Independent Registered Public Accounting Firm          27

Consolidated Statement of Earnings for the years
 ended December 31, 2010, December 31, 2009 and
 December 31, 2008                                               29

Consolidated Balance Sheets as of December 31, 2010
 and December 31, 2009                                           30

Consolidated Statement of Cash Flows for the years
 ended December 31, 2010, December 31, 2009 and
 December 31, 2008                                               31

Consolidated Statement of Changes in Equity for the
 years ended December 31, 2010, December 31, 2009 and
 December 31, 2008                                               32

Notes to Consolidated Financial Statements                       33

The foregoing is incorporated herein by reference.

The   individual  financial  statements  of  the  nonconsolidated
affiliates, which would be required if each such affiliate were a
Registrant,  are  omitted because (a) Seaboard's  and  its  other
subsidiaries'  investments in and advances to such affiliates  do
not  exceed  20% of the total assets as shown by the most  recent
consolidated  balance  sheet and (b)  Seaboard's  and  its  other
subsidiaries'  equity  in the earnings before  income  taxes  and
extraordinary items of the affiliates does not exceed 20% of such
income of Seaboard and consolidated subsidiaries compared to  the
average income for the last five fiscal years.

Combined   condensed   financial  information   as   to   assets,
liabilities  and  results of operations have been  presented  for
nonconsolidated   affiliates  in  Note  5  of   "Notes   to   the
Consolidated Financial Statements."

II - Valuation and Qualifying Accounts for the years ended
     December 31, 2010, 2009 and 2008                 F-3

All  other  schedules are omitted as the required information  is
inapplicable  or the information is presented in the consolidated
financial statements or related consolidated notes.

<PAGE> F-1

     REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Stockholders
Seaboard Corporation:

Under  date  of  March 9, 2011, we reported on  the  consolidated
balance  sheets  of  Seaboard Corporation and  subsidiaries  (the
Company)  as  of  December 31, 2010 and  2009,  and  the  related
consolidated statements of earnings, changes in equity, and  cash
flows  for  each  of  the  years in the three-year  period  ended
December 31, 2010, as contained in the annual report on Form 10-K
for  the  year  2010.   In  connection with  our  audits  of  the
aforementioned consolidated financial statements, we also audited
the  related consolidated financial statement schedule as  listed
in  the accompanying index.  This financial statement schedule is
the    responsibility   of   the   Company's   management.    Our
responsibility  is  to  express  an  opinion  on  this  financial
statement schedule based on our audits.

In   our   opinion,  such  financial  statement  schedule,   when
considered  in  relation  to  the  basic  consolidated  financial
statements  taken as a whole, presents fairly,  in  all  material
respects, the information set forth therein.


                                   KPMG LLP

Kansas City, Missouri
March 9, 2011

<PAGE> F-2

<TABLE>
<CAPTION>

                                                      Schedule II

              SEABOARD CORPORATION AND SUBSIDIARIES
                Valuation and Qualifying Accounts
                         (In Thousands)



                                           Balance at     Provision     Net deductions   Balance at
                                       beginning of year     (1)              (2)        end of year
<S>                                        <C>              <C>            <C>             <C>
Year ended December 31, 2010:

  Allowance for doubtful accounts          $ 7,330          2,771          (1,931)         $ 8,170

Year ended December 31, 2009:

  Allowance for doubtful accounts          $ 7,303          2,088          (2,061)         $ 7,330

Year ended December 31, 2008:

  Allowance for doubtful accounts          $ 8,060            776          (1,533)         $ 7,303

<FN>
(1)  The allowance for doubtful accounts provision is charged to selling, general and administrative expenses.

(2)  Includes write-offs net of recoveries and currency translation adjustments.

</TABLE>

<PAGE> F-3