| x | ANNUAL                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|---|-----------------------------------------------------------------------------------------------------------------------------------|

| ¨ | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|--------|---------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                  | For                the transition period from |   | to |   |   |

| Delaware                                                                                                          | 75-1285071                                          |
|-------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|
| (State                or other jurisdiction of                                                                    | (I.R.S.                Employer Identification No.) |
| incorporation                or organization)                                                                     |                                                |
|                                                                                                              |                                                |
| 4845                US Hwy 271 North                                                                              |                                                |
| Pittsburg,                Texas                                                                                   | 75686-0093                                          |
| (Address                of principal executive offices)                                                           | (Zip                code)                           |
|                                                                                                              |                                                |
| Registrant’s                telephone number, including area code:  (903)                434-1000 |
|                                                                                                              |                                                |

| Securities                registered pursuant to Section 12(b) of the Act:                                |
|-----------------------------------------------------------------------------------------------------------|
| Title                of each class                                                                        | Name                of each exchange on which registered |
| Common                Stock, Par Value $0.01                                                              | New                York Stock Exchange |
| Securities                registered pursuant to Section 12(g) of the                Act:  None |

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TABLE      OF CONTENTS

| PART                I                                                                                                                                  |                                                                                                                                             |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                   |                                                                                                                                             | Page |
| Item                1.                                                                                                                                 | Business                                                                                                                                         | 4 |
| Item                1A.                                                                                                                                | Risk                Factors                                                                                                                      | 23 |
| Item                1B.                                                                                                                                | Unresolved                Staff Comments                                                                                                         | 32 |
| Item                2.                                                                                                                                 | Properties                                                                                                                                       | 33 |
| Item                3.                                                                                                                                 | Legal                Proceedings                                                                                                                 | 35 |
| Item                4.                                                                                                                                 | Submission                of Matters to a Vote of Security Holders                                                                               | 38 |
|                                                                                                                                                   |                                                                                                                                             |   |
| PART                II                                                                                                                                 |                                                                                                                                             |
| Item                5.                                                                                                                                 | Market                for Registrant’s Common Equity, Related Stockholder Matters and Issuer                Purchases of Equity Securities |  39 |
| Item                6.                                                                                                                                 | Selected                Financial Data                                                                                                           | 44 |
| Item                7.                                                                                                                                 | Management’s                Discussion and Analysis of Financial Condition and Results                                                     |   |
|                                                                                                                                                   | of                Operations                                                                                                                     | 47 |
| Item                7A.                                                                                                                                | Quantitative                and Qualitative Disclosures about Market Risk                                                                        | 66 |
| Item                8.                                                                                                                                 | Financial                Statements and Supplementary Data (see Index to Financial Statements                and                                 |   |
|                                                                                                                                                   | Schedules                below)                                                                                                                  | 68 |
| Item                9.                                                                                                                                 | Changes                in and Disagreements with Accountants on Accounting and                Financial                                          |   |
|                                                                                                                                                   | Disclosure                                                                                                                                       | 68 |
| Item                9A.                                                                                                                                | Controls                and Procedures                                                                                                           | 68 |
| Item                9B.                                                                                                                                | Other                Information                                                                                                                 | 72 |
|                                                                                                                                                   |                                                                                                                                             |   |
| PART                III                                                                                                                                |                                                                                                                                             |
| Item                10.                                                                                                                                | Directors                and Executive Officers and Corporate Governance                                                                         | 74 |
| Item                11.                                                                                                                                | Executive                Compensation                                                                                                            | 74 |
| Item                12.                                                                                                                                | Security                Ownership of Certain Beneficial Owners and Management and                Related                                         |   |
|                                                                                                                                                   | Stockholder                Matters                                                                                                               | 74 |
| Item                13.                                                                                                                                | Certain                Relationships and Related Transactions, and Director                Independence                                          | 74 |
| Item                14.                                                                                                                                | Principal                Accounting Fees and Services                                                                                            | 75 |
|                                                                                                                                                   |                                                                                                                                             |   |
| PART                IV                                                                                                                                 |                                                                                                                                             |
| Item                15.                                                                                                                                | Exhibits                and Financial Statement Schedules                                                                                        | 76 |
| Signatures                                                                                                                                             |                                                                                                                                             | 83 |
|                                                                                                                                                   |                                                                                                                                             |   |
| INDEX                TO FINANCIAL STATEMENTS AND SCHEDULES                                                                                             |                                                                                                                                             |
| Report                of Independent Registered Public Accounting                Firm                                                                  | 86                                                                                                                                               |
| Consolidated                Balance Sheets as of September 29, 2007                and September 30, 2006                                              | 87                                                                                                                                               |
| Consolidated                Statements of Operations for each of                the three years endedSeptember                29, 2007                 |  88                                                                                                                                         |
| Consolidated                Statements of Stockholders’ Equity                for each of the three years endedSeptember                29, 2007 |  89                                                                                                                                         |
| Consolidated                Statements of Cash Flows for each of the                three years endedSeptember                29, 2007                 |  90                                                                                                                                         |
| Notes                to Consolidated Financial                Statements                                                                               | 91                                                                                                                                               |
| Schedule                II - Valuation and Qualifying Accounts for each                of the three years endedSeptember                29, 2007       |  118                                                                                                                                        |

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PART      I

| Item                1. | Business |
|------------------------|----------|

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|   | -                 Capitalize                on significant scale with leading industry position and brand                recognition.  We are the largest producer of chicken                products in the U.S.  We estimate that our U.S. market share,                based on the total annual chicken production in the U.S., is approximately                25%, which is approximately 20% higher than the second largest competitor                in the chicken industry.  The complementary fit of markets,                distributor relationships and geographic locations are a few of the                many                benefits we realized from our fiscal 2004 and 2007 acquisitions previously                discussed.  We believe the acquired businesses’ established                relationships with broad-line national distributors and retailers                have                enabled us to expand our customer base and provide nationwide distribution                capabilities for all of our product lines.  As a result, we                believe we are one of only two U.S. chicken producers that can supply                the                growing demand for a broad range of price competitive standard and                specialized products with well-known brand names on a nationwide                basis                from a single source supplier. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | breast                fillets, tenderloins, burgers, nuggets, salads and other prepared                products                for institutional foodservice, fast-food and retail                customers. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | -  Emphasize                customer-driven research and technology.  We have a                long-standing reputation for customer-driven research and development                in                designing new products and implementing advanced processing                technology.  This enables us to better meet our customers’                changing needs for product innovation, consistent quality and cost                efficiency.  In particular, customer-driven research and                development is integral to our growth strategy for the prepared foods                market in which customers continue to place greater importance on                value-added services.  Our research and development personnel                often work directly with customers in developing products for them,                which                we believe helps promote long-term                relationships. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | -  Enhance                U.S. fresh chicken profitability through value-added, branded                products.  Our U.S.                fresh chicken sales accounted for $3,255.7 million, or 51.4%, of                our U.S.                chicken sales for fiscal 2007.  In addition to maintaining the                sales of traditional fresh chicken products, our strategy is to shift                the                mix of our U.S. fresh chicken products by continuing to increase                sales of                higher margin, faster growing products, such as fixed weight packaged                products and marinated chicken and chicken parts, and to continually                shift                portions of this product mix into the higher value and margin prepared                chicken products.  Much of our fresh chicken products are sold                under the Pilgrim’s Pride®                brand name, which is a well-known brand in the chicken                industry. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | -                 Improve                operating efficiencies and increase capacity on a cost-effective                basis.  As production and sales grow, we continue to                focus on improving operating efficiencies by investing in state-of-the-art                technology and processes, training and our total quality management                program.  Specific initiatives                include: |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | standardizing                lowest-cost production processes across our various                facilities; |
|---------------|-------------------------------------------------------------------------------------------------------------|

| -   | centralizing                purchasing and other shared services;                and |
|---------------|--------------------------------------------------------------------------------------|

| -   | standardizing                and upgrading technology where                appropriate. |
|---------------|-----------------------------------------------------------------------------------------|

|   | -                 Continue                to                seek strategic acquisitions.  We have pursued                opportunities to expand through acquisitions in the past.  We                expect to continue to pursue acquisition opportunities in the future                that                would complement our existing businesses, broaden our production                capabilities and/or improve our operating                efficiencies. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | from                2002 through 2006.  We believe U.S. chicken exports will                continue to grow as worldwide demand increases for high-grade, low-cost                meat protein sources.  According to USDA data, the export market                for chicken is expected to grow at a compounded annual growth rate                of 1.8%                from 2006 to 2011.  Historically, we have targeted international                markets to generate additional demand for our dark chicken meat,                which is                a natural by-product of our U.S. operations given our concentration                on                prepared foods products and the U.S. customers’ general preference for                white chicken meat.  As part of this initiative, we have created                a significant international distribution network into several markets,                including Mexico, which we now utilize not only for dark chicken                meat                distribution, but also for various higher margin prepared foods and                other                poultry products.  We employ both a direct international sales                force and export brokers.  Our key international markets include                Eastern Europe, including Russia; the Far East, including China;                and                Mexico.  We believe that we have substantial opportunities to                expand our sales to these markets by capitalizing on direct international                distribution channels supplemented by our existing export broker                relationships.  Our export sales accounted for approximately                10.1% and 21.1% of our U.S. chicken sales and pounds, respectively,                for                fiscal 2007. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Financial                Information About Segments |
|-----------------|-----------------------------------------------------|

| (c)   | Narrative                Description of Business |
|-----------------|--------------------------------------------------|

| Products                  and                  Markets |   |
|--------------------------------------------------------|--------|

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| Our                  other products consist of: |   |
|-------------------------------------------------|--------|

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|                                                                                     |   | Fiscal                Year Ended |      |
|------------------------------------------------------------------------------------------|--------|----------------------------------|-----------|
|                                                                                     |   | Sept.              29, 2007(a)   |      |   | Sept.                30, 2006 |   |   | Oct.                1, 2005 |   |   | Oct.              2, 2004(a) |   |   | Sept.                27, 2003 |   |
|                                                                                     |   | (52                weeks)        |      |   | (52                weeks) |   |   | (52                weeks) |   |   | (53                weeks) |   |   | (52                weeks) |   |
| U.S.                Chicken Sales:                                                       |   | (in                thousands)    |      |
| Prepared                Foods:                                                           |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Foodservice                                                                              |   | $                                | 1,897,643 |   |   | $ | 1,567,297 |   |   | $ | 1,622,901 |   |   | $ | 1,647,904 |   |   | $ | 731,331 |   |
| Retail                                                                                   |   |                             | 511,470   |   |   |   | 308,486 |   |   |   | 283,392 |   |   |   | 213,775 |   |   |   | 163,018 |   |
| Total                Prepared Foods                                                      |   |                             | 2,409,113 |   |   |   | 1,875,783 |   |   |   | 1,906,293 |   |   |   | 1,861,679 |   |   |   | 894,349 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fresh                Chicken:                                                            |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foodservice                                                                              |   |                             | 2,280,057 |   |   |   | 1,388,451 |   |   |   | 1,509,189 |   |   |   | 1,328,883 |   |   |   | 474,251 |   |
| Retail                                                                                   |   |                             | 975,659   |   |   |   | 496,560 |   |   |   | 612,081 |   |   |   | 653,798 |   |   |   | 257,911 |   |
| Total                Fresh Chicken                                                       |   |                             | 3,255,716 |   |   |   | 1,885,011 |   |   |   | 2,121,270 |   |   |   | 1,982,681 |   |   |   | 732,162 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Export                and Other:                                                         |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Export:                                                                                  |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prepared                Foods                                                            |   |                             | 83,317    |   |   |   | 64,338 |   |   |   | 59,473 |   |   |   | 34,735 |   |   |   | 26,714 |   |
| Chicken                                                                                  |   |                             | 559,429   |   |   |   | 257,823 |   |   |   | 303,150 |   |   |   | 212,611 |   |   |   | 85,087 |   |
|          Total              Export(b)  |   |                             | 642,746   |   |   |   | 322,161 |   |   |   | 362,623 |   |   |   | 247,346 |   |   |   | 111,801 |   |
| Other                Chicken By-Products                                                 |   |                             | 20,779    |   |   |   | 15,448 |   |   |   | 21,083 |   |   | (b) |   |   | (b) |   |
| Total                Export and Other                                                    |   |                             | 663,525   |   |   |   | 337,609 |   |   |   | 383,706 |   |   |   | 247,346 |   |   |   | 111,801 |   |
| Total                U.S. Chicken                                                        |   |                             | 6,328,354 |   |   |   | 4,098,403 |   |   |   | 4,411,269 |   |   |   | 4,091,706 |   |   |   | 1,738,312 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mexico                Chicken Sales:                                                     |   |                             | 488,466   |   |   |   | 418,745 |   |   |   | 403,353 |   |   |   | 362,442 |   |   |   | 349,305 |   |
| Total                Chicken Sales                                                       |   |                             | 6,816,820 |   |   |   | 4,517,148 |   |   |   | 4,814,622 |   |   |   | 4,454,148 |   |   |   | 2,087,617 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S.                Turkey Sales:                                                        |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foodservice                                                                              |   |                             | 14,025    |   |   |   | 30,269 |   |   |   | 73,908 |   |   |   | 120,676 |   |   |   | 138,405 |   |
| Retail                                                                                   |   |                             | 104,239   |   |   |   | 96,968 |   |   |   | 125,741 |   |   |   | 154,289 |   |   |   | 154,552 |   |
|                                                                                     |   |                             | 118,264   |   |   |   | 127,237 |   |   |   | 199,649 |   |   |   | 274,965 |   |   |   | 292,957 |   |
|       Export              and other(b)                     |   |                             | 4,100     |   |   |   | 3,664 |   |   |   | 5,189 |   |   |   | 11,287 |   |   |   | 12,721 |   |
| Total                U.S. Turkey Sales                                                   |   |                             | 122,364   |   |   |   | 130,901 |   |   |   | 204,838 |   |   |   | 286,252 |   |   |   | 305,678 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                Products:                                                           |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| United                States                                                             |   |                             | 638,738   |   |   |   | 570,510 |   |   |   | 626,056 |   |   |   | 600,091 |   |   |   | 207,284 |   |
| Mexico                                                                                   |   |                             | 20,677    |   |   |   | 17,006 |   |   |   | 20,759 |   |   |   | 23,232 |   |   |   | 18,766 |   |
| Total                Other Products                                                      |   |                             | 659,415   |   |   |   | 587,516 |   |   |   | 646,815 |   |   |   | 623,323 |   |   |   | 226,050 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                Net Sales                                                           |   | $                                | 7,598,599 |   |   | $ | 5,235,565 |   |   | $ | 5,666,275 |   |   | $ | 5,363,723 |   |   | $ | 2,619,345 |   |
|                                                                                     |   |                             |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                Chicken Prepared Foods                                              |   | $                                | 2,492,430 |   |   | $ | 1,940,121 |   |   | $ | 1,965,766 |   |   | $ | 1,896,414 |   |   | $ | 921,063 |   |

|   | (a)  The                fiscal 2007 acquisition on December 27, 2006 and fiscal 2004 acquisition                on November 23, 2003 have been accounted for as purchases.  For                financial reporting purposes, we have not included the operation                results                and cash flows of the fiscal 2007 acquisition in our consolidated                financial statements for the period from December 27, 2006 through                December 30, 2006.  The operating results and cash flows of the                fiscal 2007 acquisition from December 27, 2006 through December 30,                2006                were not material.  The results of operations for the fiscal                2004 acquisition have been included in our consolidated results of                operations since the acquisition                date. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b)  The                Export and Other category historically included the sales of certain                chicken by-products sold in international markets, as well as the                export                of chicken and turkey products.  Prior to fiscal 2005,                by-product sales were not specifically identifiable from the Export                and                Other category.  Accordingly, a detail breakout is not available                prior to such time; however, the Company believes that the relative                split                between these categories as shown in fiscal 2005 would not be dissimilar                in the prior fiscal periods.  Export items include certain                poultry parts that have greater value in some overseas markets than                in the                U.S. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                          |   | Fiscal                Year Ended          |   |
|-------------------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                                          |   | Sept.                  29, 2007  (a) |   |   | Sept.                30, 2006 |   |   | Oct.                1, 2005 |   |   | Oct.                2, 2004(a) |   |   | Sept.                27, 2003 |   |
| U.S.                Chicken Sales:                                            |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prepared                Foods:                                                |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foodservice                                                                   |   |                                      | 30.1   |   |   |   | 38.2 |   |   |   | 36.8 |   |   |   | 40.3 |   |   |   | 42.1 |   |
| Retail                                                                        |   |                                      | 8.1    |   |   |   | 7.5 |   |   |   | 6.4 |   |   |   | 5.2 |   |   |   | 9.4 |   |
| Total                Prepared Foods                                           |   |                                      | 38.2   | % |   |   | 45.7 | % |   |   | 43.2 | % |   |   | 45.5 | % |   |   | 51.5 | % |
|                                                                          |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fresh                Chicken:                                                 |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foodservice                                                                   |   |                                      | 36.0   |   |   |   | 33.9 |   |   |   | 34.2 |   |   |   | 32.5 |   |   |   | 27.3 |   |
| Retail                                                                        |   |                                      | 15.4   |   |   |   | 12.1 |   |   |   | 13.9 |   |   |   | 16.0 |   |   |   | 14.8 |   |
| Total                Fresh Chicken                                            |   |                                      | 51.4   | % |   |   | 46.0 | % |   |   | 48.1 | % |   |   | 48.5 | % |   |   | 42.1 | % |
|                                                                          |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Export                and Other:                                              |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Export:                                                                       |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Prepared                Foods                                                 |   |                                      | 1.3    |   |   |   | 1.6 |   |   |   | 1.3 |   |   |   | 0.8 |   |   |   | 1.5 |   |
| Chicken                                                                       |   |                                      | 8.8    |   |   |   | 6.3 |   |   |   | 6.9 |   |   |   | 5.2 |   |   |   | 4.9 |   |
|          Total              Export(b) |   |                                      | 10.1   |   |   |   | 7.9 |   |   |   | 8.2 |   |   |   | 6.0 |   |   |   | 6.4 |   |
| Other                Chicken By-Products                                      |   |                                      | 0.3    |   |   |   | 0.4 |   |   |   | 0.5 |   |   | (b) |   |   | (b) |   |
| Total                Export and Other                                         |   |                                      | 10.4   | % |   |   | 8.3 | % |   |   | 8.7 | % |   |   | 6.0 | % |   |   | 6.4 | %                |
| Total                U.S. Chicken                                             |   |                                      | 100.0  | % |   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |
|                                                                          |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                Chicken Prepared Foods as a percentage of U.S. Chicken   |   |                                      | 39.5   | % |   |   | 47.3 | % |   |   | 44.5 | % |   |   | 46.3 | % |   |   | 53.0 | %                |
|                                                                          |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S.                Turkey Sales:                                             |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Foodservice                                                                   |   |                                      | 11.4   |   |   |   | 23.1 |   |   |   | 36.0 |   |   |   | 42.1 |   |   |   | 45.3 |   |
| Retail                                                                        |   |                                      | 85.2   |   |   |   | 74.1 |   |   |   | 61.4 |   |   |   | 53.9 |   |   |   | 50.5 |   |
|                                                                          |   |                                      | 96.6   | % |   |   | 97.2 | % |   |   | 97.4 | % |   |   | 96.0 | % |   |   | 95.8 | % |
|      Export              and Other(b)                     |   |                                      | 3.4    |   |   |   | 2.8 |   |   |   | 2.6 |   |   |   | 4.0 |   |   |   | 4.2 |   |
| Total                U.S. Turkey                                              |   |                                      | 100.0  | % |   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | % |   |   | 100.0 | %                |
|                                                                          |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|   | (a)  The                fiscal 2007 acquisition on December 27, 2006 and fiscal 2004 acquisition                on November 23, 2003 have been accounted for as purchases.  For                financial reporting purposes, we have not included the operating                results                and cash flows of the fiscal 2007 acquisition in our consolidated                financial statements for the period from December 27, 2006 through                December 30, 2006.  The operating results and cash flows of                the fiscal 2007 acquisition from December 27, 2006 through December                30, 2006 were not material.  The results of operations for the                fiscal 2004 acquisition have been included in our consolidated                results of operations since the  acquisition                date. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b)                The Export and Other category historically included the sales of                certain                chicken by-products sold in international markets as well as the                export of                chicken and turkey products.  Prior to fiscal 2005, by-product                sales were not specifically identifiable from the Export and Other                category.  Accordingly, a detail breakout is not available prior                to such time; however, the Company believes that the relative split                between these categories as shown in fiscal 2005 would not be dissimilar                in the prior fiscal periods.  Export items include certain                poultry parts that have greater value in some overseas markets than                in the                U.S. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                                 |   | Age    |   | Positions                                                         |
|--------------------------------------|--------|--------|--------|-------------------------------------------------------------------|
| Lonnie                  "Bo" Pilgrim |   | 79     |   | Senior                  Chairman of the Board                     |
| Lonnie                  Ken Pilgrim  |   | 49     |   | Chairman                  of the Board                            |
| Clifford                  E. Butler  |   | 65     |   | Vice                  Chairman of the Board                       |
| O.B.                  Goolsby, Jr.   |   | 60     |   | President,                  Chief Executive Officer, and Director |
| Richard                  A. Cogdill  |   | 47     |   | Chief                  Financial Officer                          |
|                                 |   |   |   | Secretary,                  Treasurer and Director                |
| J.                  Clinton Rivers   |   | 48     |   | Chief                  Operating Officer                          |
| Robert                  A. Wright    |   | 53     |   | Executive                  Vice President of Sales and Marketing  |
|                                 |   |   |   |                                                              |

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Item          1A.  Risk Factors

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| -   | Make                    it more difficult for us to satisfy our obligations under our                    debt                    securities; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Increase                    our vulnerability to general adverse economic                    conditions; |
|---------------|----------------------------------------------------------------------------------------------------------|

| -   | Limit                    our ability to obtain necessary financing and to fund future                    working                    capital, capital expenditures and other general corporate                    requirements; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Require                    us to dedicate a substantial portion of our cash flow from operations                    to                    payments on our indebtedness, thereby reducing the availability                    of our                    cash flow to fund working capital, capital expenditures and for                    other                    general corporate purposes; |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Limit                    our flexibility in planning for, or reacting to, changes in our                    business                    and the industry in which we                    operate; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Place                    us at a competitive disadvantage compared to our competitors                    that have                    less debt; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Limit                    our ability to pursue acquisitions and sell assets;                    and |
|---------------|-----------------------------------------------------------------------------------------------------|

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| -   | result                    in an event of default or require redemption of                    indebtedness.  Either of these events could have a material                    adverse effect on us. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Price; |
|---------------|--------|

| -   | Product                      quality; |
|---------------|---------------------------------------|

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| -   | Product                    development; |
|---------------|-----------------------------------------|

| -   | Brand                    identification; |
|---------------|------------------------------------------|

| -   | Breadth                    of product line; and |
|---------------|-------------------------------------------------|

| -   | Customer                    service. |
|---------------|--------------------------------------|

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| -   | Transitioning                    and preserving Gold Kist's customer, contractor, supplier and                    other                    important third-party                    relationships; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Integrating                    corporate and administrative                    infrastructures; |
|---------------|-------------------------------------------------------------------------------------------------|

| -   | Coordinating                    sales and marketing functions; |
|---------------|----------------------------------------------------------------|

| -   | Minimizing                    the diversion of management's attention from ongoing business                    concerns; |
|---------------|--------------------------------------------------------------------------------------------------------------------------|

| -   | Coordinating                    geographically separate organizations;                    and |
|---------------|-----------------------------------------------------------------------------------------------|

| -   | Retaining                    key employees. |
|---------------|---------------------------------------------|

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| -   | Diversion                    of management's attention; |
|---------------|---------------------------------------------------------|

| -   | The                    need to integrate acquired                    operations; |
|---------------|----------------------------------------------------------------------------------|

| -   | Potential                    loss of key employees and customers of the acquired                    companies; |
|---------------|----------------------------------------------------------------------------------------------------------------|

| -   | Lack                    of experience in operating in the geographical market of the                    acquired                    business; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| -   | An                    increase in our expenses and working capital                    requirements. |
|---------------|-----------------------------------------------------------------------------------------------------|

| -   | Currency                    exchange rate fluctuations; |
|---------------|---------------------------------------------------------|

| -   | Trade                    barriers; |
|---------------|------------------------------------|

| -   | Exchange                    controls; |
|---------------|---------------------------------------|

| -   | Expropriation;                    and |
|---------------|---------------------------------------|

| -   | Changes                    in laws and policies, including those governing foreign-owned                    operations. |
|---------------|-------------------------------------------------------------------------------------------------------------------------|

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Item          1B.

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Item          2

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Item          3.

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Item          4

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PART          II

| Item                      5.Market for the Registrant’s Common Equity, Related Stockholder Matters                      and Issuer Purchases of Equity Securities |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

|                                | Fiscal                    2007 Prices |   | Fiscal                    2006 Prices |   | Dividends |   |
|-------------------------------------|---------------------------------------|--------|---------------------------------------|--------|-----------|--------|
| Fiscal                    Quarter   | High                                  | Low    |                                  | High   | Low       |   | 2007 | 2006 |   |
|                                |                                  |   |                                  |   |      |   |   |   |   |
| PPC                    Common Stock |                                  |   |                                  |   |      |
| First                               |                                  | $      | 29.54                                 |   |      | $      | 23.64 |   |   | $ | 37.75 |   |   | $ | 30.11 |   |   | $ | .0225 |   |   | $ | 1.0225 |   |
| Second                              |                                  |   | 33.19                                 |   |      |   | 28.59 |   |   |   | 27.00 |   |   |   | 20.95 |   |   |   | .0225 |   |   |   | .0225 |   |
| Third                               |                                  |   | 38.17                                 |   |      |   | 32.77 |   |   |   | 28.09 |   |   |   | 20.85 |   |   |   | .0225 |   |   |   | .0225 |   |
| Fourth                              |                                  |   | 40.59                                 |   |      |   | 32.29 |   |   |   | 29.00 |   |   |   | 23.11 |   |   |   | .0225 |   |   |   | .0225 |   |
|                                |                                  |   |                                  |   |      |

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|                                           |   | 11/21/03 | 10/2/04 | 10/1/05 | 9/30/06 | 9/29/07 |
|------------------------------------------------|--------|----------|---------|---------|---------|---------|
|                                           |   |     |    |    |    |    |
| Pilgrim's                    Pride Corporation | 100.00 | 190.89   | 254.14  | 197.18  | 251.08  |
| Russell                    2000                |   | 100.00   | 113.10  | 129.73  | 142.61  | 160.21  |
| Peer                    Group                  |   | 100.00   | 112.59  | 131.40  | 127.35  | 140.41  |

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|                                                                                                                                 |    |    |     |    |    |    |    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|---------|----------|---------|---------|---------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 9/28/02 | 9/27/03 | 11/20/03 | 10/2/04 | 10/1/05 | 9/30/06 | 9/29/07 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |    |     |    |    |    |    |
| Pilgrim's                  Pride Corporation Class A(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 100.00  | 180.96  | 195.33   | 383.25  | 510.23  | 395.88  | 504.10  |
| Pilgrim's                  Pride Corporation Class B(1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 100.00  | 140.92  | 150.72   | 298.92  | 397.96  | 308.77  | 393.18  |
| Russell                  2000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 100.00  | 136.01  | 146.80   | 166.94  | 191.49  | 210.50  | 236.47  |
| Peer                  Group                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 100.00  | 119.32  | 132.39   | 147.39  | 172.02  | 166.72  | 183.81  |

| (1)   |  On                November 21, 2003, each share of the Company’s then outstanding Class A                common stock and Class B common stock was reclassified into one share                of                new common stock, which is now the only authorized class of the Company’s                common stock. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                      | 9/28/02 | 9/27/03 | 11/20/03 |
|-----------------------------------------------------------|---------|---------|----------|
|                                                      |    |    |     |
| Pilgrim's                    Pride Corporation Class A(1) | 100.00  | 180.96  | 195.33   |
| Pilgrim's                    Pride Corporation Class B(1) | 100.00  | 140.92  | 150.72   |
| Russell                    2000                           | 100.00  | 136.01  | 146.80   |
| Peer                    Group                             | 100.00  | 119.32  | 132.39   |

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Item          6

| (In                  thousands, except ratios and per share data)             |   | Eleven                  Years Ended September 29, 2007 |      |
|-------------------------------------------------------------------------------|--------|--------------------------------------------------------|-----------|
|                                                                          |   | 2007(a)                                                |      |   |   | 2006 |   |   |   | 2005 |   |   |   | 2004(b)(c) |   |
|                                                                          |   |                                                   |      |   |   |   |   |   |   |   |   |   |   | (53                  weeks) |   |
| Income                  Statement Data:                                       |   |                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  sales                                                    |   | $                                                      | 7,598,599 |   |   |   | $ | 5,235,565 |   |   |   | $ | 5,666,275 |   |   |   | $ | 5,363,723 |   |
| Gross                  profit(e)                                              |   |                                                   | 591,538   |   |   |   |   | 297,600 |   |   |   |   | 745,199 |   |   |   |   | 529,039 |   |
| Operating                  income(e)                                          |   |                                                   | 232,537   |   |   |   |   | 3,002 |   |   |   |   | 435,812 |   |   |   |   | 265,314 |   |
| Interest                  expense, net                                        |   |                                                   | 125,757   |   |   |   |   | 40,553 |   |   |   |   | 43,932 |   |   |   |   | 52,129 |   |
| Loss                  on early extinguishment of debt                         |   |                                                   | 26,463    |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |
| Income                  (loss) before income taxes(e)                         |   |                                                   | 91,607    |   |   |   |   | (36,317 | ) |   |   |   | 403,523 |   |   |   |   | 208,535 |   |
| Income                  tax expense (benefit)(f)                              |   |                                                   | 44,590    |   |   |   |   | (2,085 | ) |   |   |   | 138,544 |   |   |   |   | 80,195 |   |
| Net                  income (loss)(e)                                         |   |                                                   | 47,017    |   |   |   |   | (34,232 | ) |   |   |   | 264,979 |   |   |   |   | 128,340 |   |
| Ratio                  of earnings to fixed charges(g)                        |   |                                                   | 1.57      | x |   |   | (f) |   |   |   |   | 7.19 | x |   |   |   | 4.08 | x |
| Per                  Common Share Data:(h)                                    |   |                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  income (loss)                                            |   | $                                                      | 0.71      |   |   |   | $ | (0.51 | ) |   |   | $ | 3.98 |   |   |   | $ | 2.05 |   |
| Cash                  dividends                                               |   |                                                   | 0.09      |   |   |   |   | 1.09 |   |   |   |   | 0.06 |   |   |   |   | 0.06 |   |
| Book                  value                                                   |   |                                                   | 17.61     |   |   |   |   | 16.79 |   |   |   |   | 18.38 |   |   |   |   | 13.87 |   |
| Balance                  Sheet Summary:                                       |   |                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Working                  capital                                              |   | $                                                      | 379,132   |   |   |   | $ | 528,836 |   |   |   | $ | 404,601 |   |   |   | $ | 383,726 |   |
| Total                  assets                                                 |   |                                                   | 3,774,236 |   |   |   |   | 2,426,868 |   |   |   |   | 2,511,903 |   |   |   |   | 2,245,989 |   |
| Notes                  payable and current maturities of long-term debt       |   |                                                   | 2,872     |   |   |   |   | 10,322 |   |   |   |   | 8,603 |   |   |   |   | 8,428 |   |
| Long-term                  debt, less current maturities                      |   |                                                   | 1,318,558 |   |   |   |   | 554,876 |   |   |   |   | 518,863 |   |   |   |   | 535,866 |   |
| Total                  stockholders’ equity                             |   |                                                   | 1,172,221 |   |   |   |   | 1,117,327 |   |   |   |   | 1,223,598 |   |   |   |   | 922,956 |   |
| Cash                  Flow Summary:                                           |   |                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                  cash flow                                          |   | $                                                      | 463,964   |   |   |   | $ | 30,382 |   |   |   | $ | 493,073 |   |   |   | $ | 272,404 |   |
| Depreciation                  & amortization(i)                           |   |                                                   | 204,903   |   |   |   |   | 135,133 |   |   |   |   | 134,944 |   |   |   |   | 113,788 |   |
| Purchases                  of investment securities                           |   |                                                   | 125,045   |   |   |   |   | 318,266 |   |   |   |   | 305,458 |   |   |   |   | -- |   |
| Proceeds                  from sale or maturity of investment securities      |   |                                                   | 208,676   |   |   |   |   | 490,764 |   |   |   |   | -- |   |   |   |   | -- |   |
| Capital                  expenditures                                         |   |                                                   | 172,323   |   |   |   |   | 143,882 |   |   |   |   | 116,588 |   |   |   |   | 79,642 |   |
| Business                  acquisitions, net of equity consideration(a)(b) (d) |   |                                                   | 1,102,069 |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | 272,097 |   |
| Financing                  activities, net provided by (used in)              |   |                                                   | 630,229   |   |   |   |   | (38,750 | ) |   |   |   | 18,860 |   |   |   |   | 96,665 |   |
| Other                  Data:                                                  |   |                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EBITDA(j)                                                                     |   | $                                                      | 411,073   |   |   |   | $ | 136,763 |   |   |   | $ | 580,078 |   |   |   | $ | 372,501 |   |
| Key                  Indicators (as a percentage of net sales):               |   |                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross                  profit(e)                                              |   |                                                   | 7.8       |   | % |   |   | 5.7 |   | % |   |   | 13.2 |   | % |   |   | 9.9 | % |
| Selling,                  general andadministrative                  expenses |   |                                                   | 4.7       |   | % |   |   | 5.6 |   | % |   |   | 5.5 |   | % |   |   | 4.8 | % |
| Operating                  income (e)                                         |   |                                                   | 3.1       |   | % |   |   | 0.8 |   | % |   |   | 7.7 |   | % |   |   | 4.9 | % |
| Interest                  expense, net                                        |   |                                                   | 1.6       |   | % |   |   | 1.0 |   | % |   |   | 0.9 |   | % |   |   | 1.0 | % |
| Net                  income (loss)(e)                                         |   |                                                   | 0.6       |   | % |   |   | (0.7 | ) | % |   |   | 4.7 |   | % |   |   | 2.4 | % |

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| Eleven                  Years Ended September 29, 2007 |      |
|--------------------------------------------------------|-----------|
| 2003                                                   |      |   |   | 2002 |   |   |   | 2001(d) |   |   |   | 2000 |   |   |   | 1999 |   |   |   | 1998 |   |   |   | 1997 |   |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (53                  weeks) |   |   |   |   |   |   |   |   |   |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $                                                      | 2,619,345 |   |   |   | $ | 2,533,718 |   |   |   | $ | 2,214,712 |   |   |   | $ | 1,499,439 |   |   |   | $ | 1,357,403 |   |   |   | $ | 1,331,545 |   |   |   | $ | 1,277,649 |   |
|                                                   | 200,483   |   |   |   |   | 165,165 |   |   |   |   | 213,950 |   |   |   |   | 165,828 |   |   |   |   | 185,708 |   |   |   |   | 136,103 |   |   |   |   | 114,467 |   |
|                                                   | 63,613    |   |   |   |   | 29,904 |   |   |   |   | 94,542 |   |   |   |   | 80,488 |   |   |   |   | 109,504 |   |   |   |   | 77,256 |   |   |   |   | 63,894 |   |
|                                                   | 37,981    |   |   |   |   | 32,003 |   |   |   |   | 29,342 |   |   |   |   | 17,779 |   |   |   |   | 17,666 |   |   |   |   | 20,148 |   |   |   |   | 22,075 |   |
|                                                   | --        |   |   |   |   | -- |   |   |   |   | 1,433 |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |
|                                                   | 63,235    |   |   |   |   | 1,910 |   |   |   |   | 61,861 |   |   |   |   | 62,786 |   |   |   |   | 90,904 |   |   |   |   | 56,522 |   |   |   |   | 43,824 |   |
|                                                   | 7,199     |   |   |   |   | (12,425 | ) |   |   |   | 20,724 |   |   |   |   | 10,442 |   |   |   |   | 25,651 |   |   |   |   | 6,512 |   |   |   |   | 2,788 |   |
|                                                   | 56,036    |   |   |   |   | 14,335 |   |   |   |   | 41,137 |   |   |   |   | 52,344 |   |   |   |   | 65,253 |   |   |   |   | 50,010 |   |   |   |   | 41,036 |   |
|                                                   | 2.24      | x |   |   | (g) |   |   |   |   | 2.13 | x |   |   |   | 3.04 | x |   |   |   | 4.33 | x |   |   |   | 2.96 | x |   |   |   | 2.57 | x |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $                                                      | 1.36      |   |   |   | $ | 0.35 |   |   |   | $ | 1.00 |   |   |   | $ | 1.27 |   |   |   | $ | 1.58 |   |   |   | $ | 1.21 |   |   |   | $ | 0.99 |   |
|                                                   | 0.06      |   |   |   |   | 0.06 |   |   |   |   | 0.06 |   |   |   |   | 0.06 |   |   |   |   | 0.045 |   |   |   |   | 0.04 |   |   |   |   | 0.04 |   |
|                                                   | 10.46     |   |   |   |   | 9.59 |   |   |   |   | 9.27 |   |   |   |   | 8.33 |   |   |   |   | 7.11 |   |   |   |   | 5.58 |   |   |   |   | 4.41 |   |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $                                                      | 211,119   |   |   |   | $ | 179,037 |   |   |   | $ | 203,350 |   |   |   | $ | 124,531 |   |   |   | $ | 154,242 |   |   |   | $ | 147,040 |   |   |   | $ | 133,542 |   |
|                                                   | 1,257,484 |   |   |   |   | 1,227,890 |   |   |   |   | 1,215,695 |   |   |   |   | 705,420 |   |   |   |   | 655,762 |   |   |   |   | 601,439 |   |   |   |   | 579,124 |   |
|                                                   | 2,680     |   |   |   |   | 3,483 |   |   |   |   | 5,099 |   |   |   |   | 4,657 |   |   |   |   | 4,353 |   |   |   |   | 5,889 |   |   |   |   | 11,596 |   |
|                                                   | 415,965   |   |   |   |   | 450,161 |   |   |   |   | 467,242 |   |   |   |   | 165,037 |   |   |   |   | 183,753 |   |   |   |   | 199,784 |   |   |   |   | 224,743 |   |
|                                                   | 446,696   |   |   |   |   | 394,324 |   |   |   |   | 380,932 |   |   |   |   | 342,559 |   |   |   |   | 294,259 |   |   |   |   | 230,871 |   |   |   |   | 182,516 |   |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $                                                      | 98,892    |   |   |   | $ | 98,113 |   |   |   | $ | 87,833 |   |   |   | $ | 130,803 |   |   |   | $ | 81,452 |   |   |   | $ | 85,016 |   |   |   | $ | 49,615 |   |
|                                                   | 74,187    |   |   |   |   | 70,973 |   |   |   |   | 55,390 |   |   |   |   | 36,027 |   |   |   |   | 34,536 |   |   |   |   | 32,591 |   |   |   |   | 29,796 |   |
|                                                   | --        |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |
|                                                   | --        |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |
|                                                   | 53,574    |   |   |   |   | 80,388 |   |   |   |   | 112,632 |   |   |   |   | 92,128 |   |   |   |   | 69,649 |   |   |   |   | 53,518 |   |   |   |   | 50,231 |   |
|                                                   | 4,499     |   |   |   |   | -- |   |   |   |   | 239,539 |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |   |   |   | -- |   |
|                                                   | (39,767   | ) |   |   |   | (21,793 | ) |   |   |   | 246,649 |   |   |   |   | (24,769 | ) |   |   |   | (19,634 | ) |   |   |   | (32,498 | ) |   |   |   | 348 |   |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $                                                      | 173,926   |   |   |   | $ | 103,469 |   |   |   | $ | 146,166 |   |   |   | $ | 115,356 |   |   |   | $ | 142,043 |   |   |   | $ | 108,268 |   |   |   | $ | 94,782 |   |
|                                                   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                   | 7.7       |   | % |   |   | 6.5 |   | % |   |   | 9.7 |   | % |   |   | 11.1 |   | % |   |   | 13.7 |   | % |   |   | 10.2 |   | % |   |   | 9.0 | % |
|                                                   | 5.2       |   | % |   |   | 5.3 |   | % |   |   | 5.4 |   | % |   |   | 5.7 |   | % |   |   | 5.6 |   | % |   |   | 4.4 |   | % |   |   | 4.0 | % |
|                                                   | 2.4       |   | % |   |   | 1.2 |   | % |   |   | 4.3 |   | % |   |   | 5.4 |   | % |   |   | 8.1 |   | % |   |   | 5.8 |   | % |   |   | 5.0 | % |
|                                                   | 1.5       |   | % |   |   | 1.3 |   | % |   |   | 1.3 |   | % |   |   | 1.2 |   | % |   |   | 1.3 |   | % |   |   | 1.5 |   | % |   |   | 1.7 | % |
|                                                   | 2.1       |   | % |   |   | 0.6 |   | % |   |   | 1.9 |   | % |   |   | 3.5 |   | % |   |   | 4.8 |   | % |   |   | 3.8 |   | % |   |   | 3.2 | % |

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| (a)    | The                  Company acquired Gold Kist Inc. on December 27, 2006 for $1.139                  billion.  For financial reporting purposes, we have not included                  the operating results and cash flows of Gold Kist in our consolidated                  financial statements for the period from December 27, 2006                  through December 30, 2006.  The operating results and                  cash flows of Gold Kist from December 27, 2006 through December                  30, 2006                  were not material. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (b)    | The                  Company acquired the ConAgra chicken division on November 23, 2003                  for                  $635.2 million including the non-cash value of common stock issued                  of                  $357.5 million.  The acquisition has been accounted for as a                  purchase and the results of operations for this acquisition have                  been                  included in our consolidated results of operations since the acquisition                  date.                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (c)    | On                  April 26, 2004, the Company announced a plan to restructure its                  turkey                  division, including the sale of some facilities in                  Virginia.  The facilities were sold in the fourth quarter of                  fiscal 2004.  In connection with the restructuring, the Company                  recorded in cost of sales-restructuring charges of approximately                  $64.2                  million and $7.9 million of other restructuring                  charges.                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (d)    | The                  Company acquired WLR Foods on January 27, 2001 for $239.5 million                  and the                  assumption of $45.5 million of indebtedness.  The acquisition                  has been accounted for as a purchase and the results of operations                  for                  this acquisition have been included in our consolidated results                  of                  operations since the acquisition date.                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (e)    | Gross                  profit, operating income and net income include the following                  non-recurring recoveries, restructuring charges and other unusual                  items                  for each of the years presented (in                  millions):                                                                                                                                                                                                                                                                                                               |

|                                                                            |   | 2005   |   |   | 2004   |   |   | 2003   |   |
|---------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Effect                  on Gross Profit and Operating Income:                   |   |   |   |   |   |   |   |   |   |
| Cost                  of sales-restructuring                                    |   | $      | --     |   |   | $      | (64.2  | )      |   | $ | -- |   |
| Non-recurring                  recoveries recall insurance                      |   | $      | --     |   |   | $      | 23.8   |   |   | $ | -- |   |
| Non-recurring                  recoveries for avian influenza                   |   | $      | --     |   |   | $      | --     |   |   | $ | 26.6 |   |
| Non-recurring                  recoveries for vitamin and methionine litigation |   | $      | --     |   |   | $      | 0.1    |   |   | $ | 19.9 |   |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Additional                  effect on Operating Income:                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                  restructuring charges                                    |   | $      | --     |   |   | $      | (7.9   | )      |   | $ | -- |   |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                  income for litigation settlement                         |   |   | 11.7   |   |   |   | --     |   |   |   | -- |   |
| Other                  income for vitamin and methionine litigation             |   | $      | --     |   |   | $      | 0.9    |   |   | $ | 36.0 |   |

| In                  addition, the Company estimates its losses related to the October                  2002                  recall (excluding insurance recoveries) and the 2002 avian influenza                  outbreak negatively affected gross profit and operating income                  in each of                  the years presented as follows (in                  millions): |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                     |   | 2004 |   |   | 2003   |   |   | 2002 |   |
|----------------------------------------------------------|--------|------|--------|--------|--------|--------|--------|------|--------|
| Recall                  effects (estimated)              |   | $    | (20.0  | )      |   | $      | (65.0  | )    |   | $ | -- |   |
| Losses                  from avian influenza (estimated) |   | $    | --     |   |   | $      | (7.3   | )    |   | $ | (25.6 | ) |

| (f)    | Fiscal                  2006 included income tax expense of $25.8 million associated with                  the                  restructuring of the Mexico operations and subsequent repatriation                  of                  foreign earnings under the American Jobs Creation Act of                  2004.  Fiscal 2003 included a non-cash tax benefit of $16.9                  million associated with the reversal of a valuation allowance on                  net                  operating losses in the Company’s Mexico operations.  Fiscal                  2002 included a tax benefit of $11.9 million from changes in Mexican                  tax                  laws.                                                                                                                                                                                                                                                                                                                                        |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (g)    | For                  purposes of computing the ratio of earnings to fixed charges, earnings                  consist of income before income taxes plus fixed charges (excluding                  capitalized interest).  Fixed charges consist of interest                  (including capitalized interest) on all indebtedness, amortization                  of                  capitalized financing costs and that portion of rental expense                  that we                  believe to be representative of interest.  Earnings were                  inadequate to cover fixed charges by $40.6 million and $4.1 million                  in                  fiscal 2006 and 2002 respectively.                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (h)    | Historical                  per share amounts represent both basic and diluted and have been                  restated                  to give effect to a stock dividend issued on July 30, 1999.  The                  stock reclassification on November 21, 2003 that resulted in the                  new                  common stock traded as PPC did not affect the number of shares                  outstanding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (i)    | Includes                  amortization of capitalized financing costs of approximately $6.6                  million,                  $2.6 million, $2.3 million, $2.0 million, $1.5 million, $1.4 million,                  $1.9                  million, $1.2 million, $1.1 million, $1.0 million and $0.9 million                  in                  fiscal years 2007, 2006, 2005, 2004, 2003, 2002, 2001, 2000, 1999,                  1998                  and 1997, respectively.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| (j)    | “EBITDA”                  is defined as the sum of net income (loss) plus interest, taxes,                  depreciation and amortization.  EBITDA is presented because it                  is used by us and we believe it is frequently used by securities                  analysts,                  investors and other interested parties, in addition to and not                  in lieu of                  Generally Accepted Accounting Principles (GAAP) results, to compare                  the                  performance of companies.  EBITDA is not a measurement of                  financial performance under GAAP and should not be considered as                  an                  alternative to cash flow from operating activities or as a measure                  of                  liquidity or an alternative to net income as indicators of our                  operating                  performance or any other measures of performance derived in accordance                  with GAAP. |

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|                                                                                                            |   | 2007   |    |   | 2006   |   |    | 2005   |   |   | 2004    |   |   | 2003   |    |   | 2002   |   |    | 2001   |   |   | 2000    |   |   | 1999    |    |   | 1998   |   |    | 1997   |   |
|-----------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|---------|---------|--------|--------|--------|---------|--------|--------|
|                                                                                                            |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |    |    |   |   |   |    |   |   |
| Net                  Income (loss)                                                                              |   | $      | 47,017  |   |   | $      | (34,232 | )      |   | $      | 264,979 |   |   | $      | 128,340 |   |   | $      | 56,036  |   |   | $      | 14,335  |   |   | $       | 41,137  |   |   | $      | 52,344  |   |   | $ | 65,253 |   |   | $ | 50,010 |   |   | $ | 41,036 |   |
| Add:                                                                                                            |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |    |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  expense, net                                                                          |   |   | 121,117 |   |   |   | 40,553  |   |   |   | 43,932  |   |   |   | 52,129  |   |   |   | 37,981  |   |   |   | 32,003  |   |   |    | 29,342  |   |   |   | 17,779  |   |   |   | 17,666 |   |   |   | 20,148 |   |   |   | 22,075 |   |
| I   Income                  tax expense        (benefit) |   |   | 44,590  |   |   |   | (2,085  | )      |   |   | 138,544 |   |   |   | 80,195  |   |   |   | 7,199   |   |   |   | (12,425 | )      |   |    | 20,724  |   |   |   | 10,442  |   |   |   | 25,651 |   |   |   | 6,512 |   |   |   | 2,788 |   |
| Depreciation                  and amortization(i)                                                          |   |   | 204,903 |   |   |   | 135,133 |   |   |   | 134,944 |   |   |   | 113,788 |   |   |   | 74,187  |   |   |   | 70,973  |   |   |    | 55,390  |   |   |   | 36,027  |   |   |   | 34,536 |   |   |   | 32,591 |   |   |   | 29,796 |   |
|                                                                                                            |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |    |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Minus:                                                                                                          |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |    |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Amortization                  of capitalized financing costs(i)                                            |   |   | 6,554   |   |   |   | 2,606   |   |   |   | 2,321   |   |   |   | 1,951   |   |   |   | 1,477   |   |   |   | 1,417   |   |   |    | 1,860   |   |   |   | 1,236   |   |   |   | 1,063 |   |   |   | 993 |   |   |   | 913 |   |
| EBITDA                                                                                                          |   |   | 411,073 |   |   |   | 136,763 |   |   |   | 580,078 |   |   |   | 372,501 |   |   |   | 173,926 |   |   |   | 103,469 |   |   |    | 144,733 |   |   |   | 115,356 |   |   |   | 142,043 |   |   |   | 108,268 |   |   |   | 94,782 |   |
| Add:                                                                                                            |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |    |    |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                      Loss on early extinguishment of debt                                        |   |   | 26,463  |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |    | 1,433   |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Adjusted                  EBITDA                                                                                |   | $      | 437,536 |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |   |    |   |   |  $ | 146,166 |   |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

Item        7

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| -   | First,                  we delayed one-half of our planned expansion in the Fresh Food                  Service                  Division of our Mayfield, Kentucky plant from July 2006 until September                  2006, and the other half of this expansion from July 2006 until                  June                  2007. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Second,                  beginning on July 1, 2006, we reduced our weekly slaughter rate                  by                  approximately 3%, which is equivalent to approximately 830,000                  head per                  week.  Beginning on January 1, 2007, we further reduced weekly                  slaughter to achieve a 5% year-over-year decline, which is equivalent                  to                  approximately 1.3 million head per                  week. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Third,                  we reduced our capital investments for fiscal 2006 to $144                  million.  Our original capital investment projection for the year had                  been in the range of $180-$200 million.  We focused only on those                  projects we deemed critically necessary to our business or those in                  which our immediate investment was judged by us to be                  in our best long-term                  interests.  |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Fourth,                  we sharpened our focus on reducing costs and operating more                  efficiently. |
|---------------|--------------------------------------------------------------------------------------------------------------------|

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| ·   | In                  addition to the effects of the Gold Kist acquisition, cost of sales                  increased from fiscal 2006 to fiscal 2007 due in part to higher                  feed                  ingredient and fuel costs between the two periods, operational                  inefficiencies and labor shortages.  Feed ingredients costs rose                  38.2% and 31.3% in the U.S. and Mexico chicken divisions, respectively,                  due primarily to corn and soybean meal                  prices. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Net                  interest expense increased $80.6 million in fiscal 2007, when compared                  to                  fiscal 2006, due primarily to the financing of the Gold Kist                  acquisition. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | We                  recognized $14.5 million and $12.0 million of losses on the early                  extinguishments of debt during the second and fourth quarters of                  fiscal                  2007, respectively. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | -      Business                  strategy; |
|--------|--------------------------------------------------------------------------|

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|                                                                                   |   | Fiscal                  Year Ended     |      |
|----------------------------------------------------------------------------------------|--------|----------------------------------------|-----------|
|                                                                                   |   | September                  29, 2007(a) |      |   | September                  30, 2006 |   |   | October                  1, 2005 |   |
|                                                                                   |   |                                   |      |   | (In                  thousands) |   |   |   |   |
| Net                  Sales to Customers:                                               |   |                                   |      |   |   |   |   |   |   |
| Chicken:                                                                               |   |                                   |      |   |   |   |   |   |   |
| United                  States                                                         |   | $                                      | 6,328,354 |   |   | $ | 4,098,403 |   |   | $ | 4,411,269 |   |
| Mexico                                                                                 |   |                                   | 488,466   |   |   |   | 418,745 |   |   |   | 403,353 |   |
| Sub-total                                                                              |   |                                   | 6,816,820 |   |   |   | 4,517,148 |   |   |   | 4,814,622 |   |
| Turkey                                                                                 |   |                                   | 122,364   |   |   |   | 130,901 |   |   |   | 204,838 |   |
| Other                  Products:                                                       |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   |                                   | 638,738   |   |   |   | 570,510 |   |   |   | 626,056 |   |
| Mexico                                                                                 |   |                                   | 20,677    |   |   |   | 17,006 |   |   |   | 20,759 |   |
| Sub-total                                                                              |   |                                   | 659,415   |   |   |   | 587,516 |   |   |   | 646,815 |   |
| Total                                                                                  |   | $                                      | 7,598,599 |   |   | $ | 5,235,565 |   |   | $ | 5,666,275 |   |
| Operating                  Income (Loss):                                              |   |                                   |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                               |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   | $                                      | 192,447   |   |   | $ | 28,619 |   |   | $ | 405,662 |   |
| Mexico                                                                                 |   |                                   | 13,116    |   |   |   | (17,960 | ) |   |   | 39,809 |   |
| Sub-total                                                                              |   |                                   | 205,563   |   |   |   | 10,659 |   |   |   | 445,471 |   |
| Turkey                                                                                 |   |                                   | (4,655    | ) |   |   | (15,511 | ) |   |   | (22,539 | ) |
| Other                  Products:                                                       |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   |                                   | 28,637    |   |   |   | 6,216 |   |   |   | 8,250 |   |
| Mexico                                                                                 |   |                                   | 2,992     |   |   |   | 1,638 |   |   |   | 4,630 |   |
| Sub-total                                                                              |   |                                   | 31,629    |   |   |   | 7,854 |   |   |   | 12,880 |   |
| Total                                                                                  |   | $                                      | 232,537   |   |   | $ | 3,002 |   |   | $ | 435,812 |   |
| Depreciation                  and Amortization: (b)                                    |   |                                   |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                               |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   | $                                      | 183,808   |   |   | $ | 109,346 |   |   | $ | 114,131 |   |
| Mexico                                                                                 |   |                                   | 11,015    |   |   |   | 11,305 |   |   |   | 12,085 |   |
| Sub-total                                                                              |   |                                   | 194,823   |   |   |   | 120,651 |   |   |   | 126,216 |   |
| Turkey                                                                                 |   |                                   | 1,587     |   |   |   | 6,593 |   |   |   | 3,343 |   |
| Other                  Products:                                                       |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   |                                   | 8,278     |   |   |   | 7,743 |   |   |   | 5,196 |   |
| Mexico                                                                                 |   |                                   | 215       |   |   |   | 146 |   |   |   | 189 |   |
| Sub-total                                                                              |   |                                   | 8,493     |   |   |   | 7,889 |   |   |   | 5,385 |   |
| Total                                                                                  |   | $                                      | 204,903   |   |   | $ | 135,133 |   |   | $ | 134,944 |   |
| Total                  Assets:                                                         |   |                                   |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                               |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   | $                                      | 3,247,812 |   |   | $ | 1,897,763 |   |   | $ | 2,059,579 |   |
| Mexico                                                                                 |   |                                   | 348,894   |   |   |   | 361,887 |   |   |   | 287,414 |   |
| Sub-total                                                                              |   |                                   | 3,596,706 |   |   |   | 2,259,650 |   |   |   | 2,346,993 |   |
| Turkey                                                                                 |   |                                   | 69,653    |   |   |   | 76,908 |   |   |   | 77,319 |   |
| Other                  Products:                                                       |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   |                                   | 103,757   |   |   |   | 88,650 |   |   |   | 85,581 |   |
| Mexico                                                                                 |   |                                   | 4,120     |   |   |   | 1,660 |   |   |   | 2,010 |   |
| Sub-total                                                                              |   |                                   | 107,877   |   |   |   | 90,310 |   |   |   | 87,591 |   |
| Total                                                                                  |   | $                                      | 3,774,236 |   |   | $ | 2,426,868 |   |   | $ | 2,511,903 |   |
|     Capital                  Expenditures (excluding acquisition): |   |                                   |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                               |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   | $                                      | 164,449   |   |   | $ | 133,106 |   |   | $ | 102,470 |   |
| Mexico                                                                                 |   |                                   | 1,633     |   |   |   | 6,536 |   |   |   | 4,924 |   |
| Sub-total                                                                              |   |                                   | 166,082   |   |   |   | 139,642 |   |   |   | 107,394 |   |
| Turkey                                                                                 |   |                                   | 502       |   |   |   | 257 |   |   |   | 3,604 |   |
| Other                  Products:                                                       |   |                                   |      |   |   |   |   |   |   |   |   |   |
| United                  States                                                         |   |                                   | 5,699     |   |   |   | 3,567 |   |   |   | 5,448 |   |
| Mexico                                                                                 |   |                                   | 40        |   |   |   | 416 |   |   |   | 142 |   |
| Sub-total                                                                              |   |                                   | 5,739     |   |   |   | 3,983 |   |   |   | 5,590 |   |
| Total                                                                                  |   | $                                      | 172,323   |   |   | $ | 143,882 |   |   | $ | 116,588 |   |

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| (a)    | The                  Company acquired Gold Kist on December 27, 2006 for $1.139                  billion.  For financial reporting purposes, we have not included                  the operating results and cash flows of Gold Kist in our consolidated                  financial statements for the period from December 27, 2006                  through December 30, 2006.  The operating results and                  cash flows of Gold Kist from December 27, 2006 through December                  30, 2006                  were not material. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (b)    | Includes                  amortization of capitalized financing costs of approximately $6.6                  million,                  $2.6 million, and $2.3 million in fiscal 2007, 2006 and 2005,                  respectively, and amortization of intangible assets of approximately                  $6.3                  million in fiscal 2007.                                                                                                                                                                                                                                     |

|                                                         |   | September                  29,2007 |   |   | September                  30,2006 |   |   | October                  1,2005 |   |
|--------------------------------------------------------------|--------|------------------------------------|--------|--------|------------------------------------|--------|--------|---------------------------------|--------|
| Net                  sales                                   |   |                               | 100.0  | %      |                               |   | 100.0  | %                               |   |   | 100.0 | % |
| Cost                  and Expenses                           |   |                               |   |   |                               |   |   |                            |   |   |   |   |
| Cost                  of sales                               |   |                               | 92.2   |   |                               |   | 94.3   |                            |   |   | 86.8 |   |
| Gross                  profit                                |   |                               | 7.8    |   |                               |   | 5.7    |                            |   |   | 13.2 |   |
| Selling,                  general and administrative expense |   |                               | 4.7    |   |                               |   | 5.6    |                            |   |   | 5.5 |   |
| Operating                  income                            |   |                               | 3.1    |   |                               |   | 0.1    |                            |   |   | 7.7 |   |
| Interest                  expense, net                       |   |                               | 1.6    |   |                               |   | 0.8    |                            |   |   | 0.7 |   |
|                                                         |   |                               |   |   |                               |   |   |                            |   |   |   |   |
| Income                  (loss) before income taxes           |   |                               | 1.2    |   |                               |   | (0.7   | )                               |   |   | 7.1 |   |
| Net                  income (loss)                           |   |                               | 0.6    |   |                               |   | (0.7   | )                               |   |   | 4.7 |   |
|                                                         |   |                               |   |   |                               |   |   |                            |   |   |   |   |

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|                             |   | Fiscal                  Year Ended |    |   |                         |   |    |       |   |   |
|----------------------------------|--------|------------------------------------|---------|--------|------------------------------|--------|---------|------------|--------|--------|
|                             |   | September                  29,     |    |   | Change                  from |   |    | Percentage |   |   |
| Source                           |   | 2007                               |    |   | Fiscal                  2006 |   |    | Change     |   |   |
|                             |   |                               |    |   |                         |   |    |       |   |   |
| Chicken:                         |   |                               |    |   |                         |   |    |       |   |   |
| United                  States   |   | $                                  | 6,328.3 |   |                         | $      | 2,229.9 |       |   |   | 54.4 | % | (a) |
| Mexico                           |   |                               | 488.5   |   |                         |   | 69.8    |       |   |   | 16.7 | % | (b) |
|                             |   | $                                  | 6,816.8 |   |                         | $      | 2,299.7 |       |   |   | 50.9 | % |   |
|                             |   |                               |    |   |                         |   |    |       |   |   |   |   |   |
| Turkey                           |   | $                                  | 122.4   |   |                         | $      | (8.5    | )          |   |   | (6.5 | )                % | (c) |
|                             |   |                               |    |   |                         |   |    |       |   |   |   |   |   |
| Other                  products: |   |                               |    |   |                         |   |    |       |   |   |   |   |   |
| United                  States   |   | $                                  | 638.7   |   |                         | $      | 68.1    |       |   |   | 11.9 | % | (d) |
| Mexico                           |   |                               | 20.7    |   |                         |   | 3.7     |       |   |   | 21.8 | % | (e) |
|                             |   | $                                  | 659.4   |   |                         | $      | 71.8    |       |   |   | 12.2 | % |   |
| Net                  Sales       |   | $                                  | 7,598.6 |   |                         | $      | 2,363.0 |       |   |   | 45.1 | % |   |

| (a)    | U.S.                  chicken sales increased primarily as the result of a 41.1% increase                  in                  volume due to the acquisition of Gold Kist on December 27, 2006,                  increases                  in the average selling prices of chicken and, for legacy Pilgrim’s Pride                  products, an improved product mix containing more higher-margin,                  value-added products. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (b)    | Mexico                  chicken sales increased compared to fiscal year 2006, due primarily                  to                  increases in production and a 21.2% increase in pricing per pound                  sold.                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (c)    | Turkey                  sales declined due primarily to an 8.1% decrease in pricing of                  turkey                  products.                                                                                                                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (d)    | U.S.                  sales of other products increased primarily due to the acquisition                  of Gold                  Kist on December 27, 2006 and improved pricing from rendering                  operations.                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (e)    | Mexico                  other products sales increased due to increased sales volumes of                  and                  increased sales prices for commercial                  feed.                                                                                                                                                                                                                                                         |

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|                           |
|--------------------------------|
|                           | Fiscal                  Year Ended |   |   |   |   |   |   |   | Percentage |   |   | Percentage |   |   |
|                           | September                  29, |   | Change                  from |   |   | Percentage |   |   | of                  Net Sales |   |   | of                  Net Sales |   |   |
| Components                     | 2007 |   | Fiscal                  2006 |   |   | Change |   |   | Fiscal                  2007 |   |   | Fiscal                  2006 |   |   |
|                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  sales     |   | $ | 7,598.6 |   |   | $ | 2,363.0 |   |   |   | 45.1 | % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Cost                  of sales |   |   | 7,007.1 |   |   |   | 2,069.1 |   |   |   | 41.9 | % |   |   | 92.2 | % |   |   | 94.3 | % | (a) |
|                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross                  profit  |   | $ | 591.5 |   |   | $ | 293.9 |   |   |   | 98.8 | % |   |   | 7.8 | % |   |   | 5.7 | % | (b) |

| (a)    | Cost                  of sales in the U.S. chicken operations increased $1,995.7 million                  due                  primarily to the acquisition of Gold Kist and increased quantities                  and                  costs of energy and feed ingredients.  We also experienced in                  fiscal 2007, and continue to experience, increased production and                  freight                  costs related to operational inefficiencies, labor shortages at                  several                  facilities and higher fuel costs.  We believe the labor                  shortages are attributable in part to heightened publicity of governmental                  immigration enforcement efforts, ongoing Company compliance efforts                  and                  continued changes in the Company’s employment practices in light of                  recently published governmental best practices and the pending                  new labor                  hiring regulations.  Cost of sales in our Mexico chicken                  operations increased primarily due to increased feed ingredient                  cost. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| (b)    | Gross                  profit as a percent of net sales improved 2.1 percentage points                  due to                  sales prices in the industry increasing in response to the increased                  cost                  of feed ingredients.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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|                              |   | Fiscal                  Year Ended |   |   |                         |   |   |       |   |
|-----------------------------------|--------|------------------------------------|--------|--------|------------------------------|--------|--------|------------|--------|
|                              |   | September                  29,     |   |   | Change                  from |   |   | Percentage |   |
| Source                            |   | 2007                               |   |   | Fiscal                  2006 |   |   | Change     |   |
|                              |   |                               |   |   |                         |   |   |       |   |
| Chicken:                          |   |                               |   |   |                         |   |   |       |   |
| United                  States    |   | $                                  | 192.5  |   |                         | $      | 163.9  |       |   |   | 573.1 | % |
| Mexico                            |   |                               | 13.1   |   |                         |   | 31.0   |       |   |   | 173.2 | % |
|                              |   | $                                  | 205.6  |   |                         | $      | 194.9  |       |   | NM |   |
|                              |   |                               |   |   |                         |   |   |       |   |   |   |   |
| Turkey                            |   | $                                  | (4.7   | )      |                         | $      | 10.8   |       |   |   | 70.0 | % |
|                              |   |                               |   |   |                         |   |   |       |   |   |   |   |
| Other                  Products:  |   |                               |   |   |                         |   |   |       |   |   |   |   |
| United                  States    |   | $                                  | 28.6   |   |                         | $      | 22.4   |       |   |   | 361.3 | % |
| Mexico                            |   |                               | 3.0    |   |                         |   | 1.4    |       |   |   | 87.5 | % |
|                              |   | $                                  | 31.6   |   |                         | $      | 23.8   |       |   |   | 305.1 | % |
| Operating                  Income |   | $                                  | 232.5  |   |                         | $      | 229.5  |       |   | NM |   |

|                                                                              |
|-----------------------------------------------------------------------------------|
|                                                                              | Fiscal                  Year Ended |   |   |   |   | Percentage |   | Percentage |   |   |
|                                                                              |   | September                  29, |   | Change                  from |   | Percentage |   | of                  Net Sales |   | of                  Net Sales |   |   |
| Components                                                                        |   | 2007 |   | Fiscal                  2006 |   | Change |   | Fiscal                  2007 |   | Fiscal                  2006 |   |   |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Gross                  profit                                               |   | $ | 591.5 |   | $ | 293.9 |   | 98.8 | % | 7.8 | % |  5.7 | % |   |
|                    S   Selling, general and administrative expense |   |   | 359.0 |   |   | 64.4 |   | 21.9 | % | 4.7 | % | 5.6 | % | (a) |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Operating                  income                                           |   | $ | 232.5 |   | $ | 229.5 |   | NM |   | 3.1 | % | 0.1 | % | (b) |

| (a)    | Selling,                  general and administrative expense increased due primarily to the                  acquisition of Gold Kist.                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| (b)    | The                  increase in operating income when compared to fiscal 2006 is due                  primarily                  to the acquisition of Gold Kist, increases in the average selling                  prices                  of chicken, improved product mix and a reduction of selling, general                  and                  administrative expenses as a percentage of net sales, offset by                  increased                  production and freight costs and the other factors described                  above. |

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|                               |   | Fiscal                    Year Ended |    |   |                           |   |   |       |   |   |
|------------------------------------|--------|--------------------------------------|---------|--------|--------------------------------|--------|--------|------------|--------|--------|
|                               |   | September                    30,     |    |   | Change                    from |   |   | Percentage |   |   |
| Source                             |   | 2006                                 |    |   | Fiscal                    2005 |   |   | Change     |   |   |
|                               |   |                                 |    |   |                           |   |   |       |   |   |
| Chicken:                           |   |                                 |    |   |                           |   |   |       |   |   |
| United                    States   |   | $                                    | 4,098.4 |   |                           | $      | (312.8 | )          |   |   | (7.1 | )                  % | (a) |
| Mexico                             |   |                                 | 418.7   |   |                           |   | 15.3   |       |   |   | 3.8 | % | (b) |
|                               |   | $                                    | 4,517.1 |   |                           | $      | (297.5 | )          |   |   | (6.2 | )                  % |   |
|                               |   |                                 |    |   |                           |   |   |       |   |   |   |   |   |
| Turkey                             |   | $                                    | 130.9   |   |                           | $      | (73.9  | )          |   |   | (36.1 | )                  % | (c) |
|                               |   |                                 |    |   |                           |   |   |       |   |   |   |   |   |
| Other                    Products: |   |                                 |    |   |                           |   |   |       |   |   |   |   |   |
| United                    States   |   | $                                    | 570.6   |   |                           | $      | (55.5  | )          |   |   | (8.9 | )                  % | (d) |
| Mexico                             |   |                                 | 17.0    |   |                           |   | (3.8   | )          |   |   | (18.3 | )                  % | (e) |
|                               |   | $                                    | 587.6   |   |                           | $      | (59.3  | )          |   |   | (9.2 | )                  % |   |
| Net                    Sales       |   | $                                    | 5,235.6 |   |                           | $      | (430.7 | )          |   |   | (7.6 | )                  % |   |

| (a)    | U.S.                    chicken sales declined primarily due to 15.8% lower breast meat                    prices and                    19.7% lower leg quarter prices and 2.3% reduction in                    volume.                                                       |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                           |
| (b)    | Mexico                    chicken sales increased compared to fiscal year 2005, due primarily                    to                    increases in production, partially offset by a 9.1% decrease                    in pricing                    per pound sold.           |
|   |                                                                                                                                                                                                                                                                           |
| (c)    | Turkey                    sales declined due to our decision in the first quarter of fiscal                    2006 to                    cease production of certain products at our Franconia, Pennsylvania                    turkey                    cooking operations. |
|   |                                                                                                                                                                                                                                                                           |
| (d)    | U.S.                    sales of other products decreased primarily due to the divesture                    of                    certain distribution centers whose sales included a large volume                    of                    non-poultry products.              |
|   |                                                                                                                                                                                                                                                                           |
| (e)    | Mexico                    other products sales decreased due to reduced sales volumes of                    commercial                    feed.                                                                                                                                |

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|                             |
|----------------------------------|
|                             | Fiscal                    Year Ended |   | Change |   |   |   |   |   | Percentage |   |   | Percentage |   |   |
|                             | September                    30, |   | from |   |   | Percentage |   |   | of                    Net Sales |   |   | of                    Net Sales |   |   |
| Components                       | 2006 |   | Fiscal                    2005 |   |   | Change |   |   | Fiscal                    2006 |   |   | Fiscal                    2005 |   |   |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    sales     |   | $ | 5,235.6 |   |   | $ | (430.7 | ) |   |   | (7.6 | )                  % |   |   | 100.0 | % |   |   | 100.0 | % |   |
| Cost                    of sales |   |   | 4,938.0 |   |   |   | 16.9 |   |   |   | 0.3 | % |   |   | 94.3 | % |   |   | 86.8 | % | (a) |
|                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross                    profit  |   | $ | 297.6 |   |   | $ | (447.6 | ) |   |   | (60.1 | )                  % |   |   | 5.7 | % |   |   | 13.2 | % |   |
|                             |

| (a)    | Cost                    of sales in the U.S. chicken operations increased $71.8 million                    due                    primarily to increased energy and packaging costs.  Cost of                    sales in our turkey operations decreased significantly because                    of the                    restructuring of this division in fiscal 2004 and first quarter                    of fiscal                    2006.  Cost of sales in our Mexico chicken operations increased                    $71.6 million primarily due to a 9.7% increase in production                    volumes. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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|                                |   | Fiscal                    Year Ended |   |   |                           |   |   |       |   |
|-------------------------------------|--------|--------------------------------------|--------|--------|--------------------------------|--------|--------|------------|--------|
|                                |   | September                    30,     |   |   | Change                    from |   |   | Percentage |   |
| Source                              |   | 2006                                 |   |   | Fiscal                    2005 |   |   | Change     |   |
|                                |   |                                 |   |   |                           |   |   |       |   |
| Chicken:                            |   |                                 |   |   |                           |   |   |       |   |
| United                    States    |   | $                                    | 28.6   |   |                           | $      | (377.1 | )          |   |   | (93.0 | )                  % |
| Mexico                              |   |                                 | (17.9  | )      |                           |   | (57.7  | )          |   |   | (145.0 | )                  % |
|                                |   | $                                    | 10.7   |   |                           | $      | (434.8 | )          |   |   | (97.6 | )                  % |
|                                |   |                                 |   |   |                           |   |   |       |   |   |   |   |
| Turkey                              |   | $                                    | (15.5  | )      |                           | $      | 7.0    |       |   |   | 31.1 | % |
|                                |   |                                 |   |   |                           |   |   |       |   |   |   |   |
| Other                    Products:  |   |                                 |   |   |                           |   |   |       |   |   |   |   |
| United                    States    |   | $                                    | 6.2    |   |                           | $      | (2.0   | )          |   |   | (24.4 | )                  % |
| Mexico                              |   |                                 | 1.6    |   |                           |   | (3.0   | )          |   |   | (65.2 | )                  % |
|                                |   | $                                    | 7.8    |   |                           | $      | (5.0   | )          |   |   | (39.1 | )                  % |
| Operating                    Income |   | $                                    | 3.0    |   |                           | $      | (432.8 | )          |   |   | (99.3 | )                  % |

|                                                                                                         |
|--------------------------------------------------------------------------------------------------------------|
|                                                                                                         | Fiscal                    Year Ended |   |   |   |   |   |   |   | Percentage |   |   | Percentage |   |   |
|                                                                                                         | September                    30, |   | Change                    from |   |   | Percentage |   |   | of                    Net Sales |   |   | of                    Net Sales |   |   |
| Components                                                                                                   | 2006 |   | Fiscal                    2005 |   |   | Change |   |   | Fiscal                    2006 |   |   | Fiscal                    2005 |   |   |
|                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross                    profit                                                                              |   | $ | 297.6 |   |   | $ | (447.6 | ) |   |   | (60.1 | )                  % |   |   | 5.7 | % |   |   | 13.2 |  % |    |
|  S                      Sel l                    ing, general and administrative expense |   |   | 294.6 |   |   |   | (14.8 | ) |   |   | (4.8 | )                  % |   |   | 5.6 | % |   |   | 5.5 | % | (a) |
|                                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                    income                                                                          |   | $ | 3.0 |   |   | $ | (432.8 | ) |   |   | (99.3 | )                  % |   |   | 0.1 | % |   |   | 7.7 | % | (b) |

| (a)    | Selling,                    general and administrative expense decreased due primarily to                    a decrease                    in costs associated with our profit-based retirement and compensation                    plans.                                       |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                             |
| (b)    | The                    decrease in operating income when compared to fiscal 2005 is                    due primarily                    to lower market pricing for chicken products, as well as increased                    costs                    for energy and packaging. |

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|                                                            |   |   | Facility |   |   | Amount      |   |   |      |   |
|-----------------------------------------------------------------|--------|--------|----------|--------|--------|-------------|--------|--------|-----------|--------|
| Source                    of Liquidity                          |   |   | Amount   |   |   | Outstanding |   |   | Available |   |
| (in                    millions)                                |   |   |     |   |   |        |   |   |      |   |
|                                                            |   |   |     |   |   |        |   |   |      |   |
| Cash                    and cash equivalents                    |   | $      | --       |   | $      | --          |   | $      | 66.2      |   |
| Investments                    in available-for-sale securities |   |   | --       |   |   | --          |   |   | 8.2       |   |
| Debt                    facilities:                             |   |   |     |   |   |        |   |   |      |   |
| Revolving                    credit facilities                  |   |   | 350.0    |   |   | 26.3        |   |   | 238.8     | (a)    |
| Revolving/term                    facility                      |   |   | 550.0    |   |   | --          |   |   | 550.0     |   |
|                                                            |   |   |     |   |   |        |   |   |      |   |
|                                                            |   |   |     |   |   |        |   |   |      |   |
|  Receivables                    purchase agreement         |   |   | 300.0    |   |   | 300.0       |   |   | --        |   |
|                                                            |   |   |     |   |   |        |   |   |      |   |

| (a)    | At                    September 29, 2007, the Company had $84.9 million in letters                    of credit                    outstanding relating to normal business transactions. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                     |

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|                                             |   | Payments                    Due By Period |    |
|--------------------------------------------------|--------|-------------------------------------------|---------|
|  Contractual                    Obligations |   | Total                                     |    |   | Less                    than 1 year |   |   | 1-3                    years |   |   | 3-5                    years |   |   | More                    than 5 years |   |
| Long-term                    debt(a)             |   | $                                         | 1,321.4 |   |   | $ | 2.9 |   |   | $ | 3.7 |   |   | $ | 29.3 |   |   | $ | 1,285.5 |   |
| Guarantee                    fees                |   |                                      | 31.2    |   |   |   | 3.6 |   |   |   | 7.0 |   |   |   | 7.0 |   |   |   | 13.6 |   |
| Operating                    leases              |   |                                      | 147.5   |   |   |   | 46.8 |   |   |   | 65.4 |   |   |   | 30.3 |   |   |   | 5.0 |   |
| Purchase                    obligations          |   |                                      | 40.1    |   |   |   | 40.1 |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |
| Total                                            |   | $                                         | 1,540.2 |   |   | $ | 93.4 |   |   | $ | 76.1 |   |   | $ | 66.6 |   |   | $ | 1,304.1 |   |

| (a)   | Excludes                    $84.9 million in letters of credit outstanding related to normal                    business                    transactions. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

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Item          7A

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Item          8

Item          9

|   | Not                    Applicable. |
|--------|------------------------------------|

Item          9A

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Item          9B

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|   | PART                    III |
|--------|-----------------------------|

Item          10

Item          11

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

Item          13.

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Item          14

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Item          15

| (a)    |   | Financial                    Statements                                                                                                                                                                                                                                                                   |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                      |
|   | (1)    | The                    financial statements and schedules listed in the index to financial                    statements and schedules on page 3 of this report are filed as                    part of                    this report.                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                      |
|   | (2)    | All                    other schedules for which provision is made in the applicable                    accounting                    regulations of the SEC are not required under the related instructions                    or                    are not applicable and therefore have been omitted. |
|   |   |                                                                                                                                                                                                                                                                                                      |
|   | (3)    | The                    financial statements schedule entitled “Valuation and Qualifying Accounts                    and Reserves” is filed as part of this report on page                    118.                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                      |
| (b)    |   | Exhibits                                                                                                                                                                                                                                                                                                  |

| 2.1    |   | Agreement                    and Plan of Reorganization dated September 15, 1986, by and among                    Pilgrim’s Pride Corporation, a Texas corporation; Pilgrim’s Pride                    Corporation, a Delaware corporation; and Doris Pilgrim Julian,                    Aubrey Hal                    Pilgrim, Paulette Pilgrim Rolston, Evanne Pilgrim, Lonnie “Bo” Pilgrim,                    Lonnie Ken Pilgrim, Greta Pilgrim Owens and Patrick Wayne Pilgrim                    (incorporated by reference from Exhibit 2.1 to the Company’s Registration                    Statement on Form S-1 (No. 33-8805) effective November 14,                    1986). |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.2    |   | Agreement                    and Plan of Merger dated September 27, 2000 (incorporated by                    reference                    from Exhibit 2 of WLR Foods, Inc.’s Current Report on Form 8-K (No.                    000-17060) dated September 28, 2000).                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.3    |   | Agreement                    and Plan of Merger dated as of December 3, 2006, by and among                    the Company,                    Protein Acquisition Corporation, a wholly-owned subsidiary of                    the Company,                    and Gold Kist Inc. (incorporated by reference from Exhibit 99.(D)(1)                    to                    Amendment No. 11 to the Company’s Tender Offer Statement on Schedule TO                    filed on December 5, 2006).                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.1    |   | Certificate                    of Incorporation of the Company, as amended (incorporated by                    reference                    from Exhibit 3.1 of the Company’s Annual Report on Form 10-K for the                    fiscal year ended October 2, 2004).                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.2    |   | Amended                    and Restated Corporate Bylaws of the Company (incorporated by                    reference                    from Exhibit 4.4 of the Company’s Registration Statement on Form S-8 (No.                    333-111929) filed on January 15, 2004).                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.1    |   |     Certificate                    of Incorporation of the Company, as amended (included as Exhibit                    3.1).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.2    |   | Amended                    and Restated Corporate Bylaws of the Company (included as Exhibit                    3.2).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.3    |   | Indenture,                    dated November 21, 2003, between Pilgrim's Pride Corporation                    and The Bank                    of New York as Trustee relating to Pilgrim’s Pride’s 9 ¼% Senior Notes due                    2013 (incorporated by reference from Exhibit 4.1 of the Company's                    Registration Statement on Form S-4 (No. 333-111975) filed on                    January 16,                    2004).                                                                                                                                                                                                                                                |

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| 4.4             |   | Form                    of 9 ¼% Note due 2013 (incorporated by reference from Exhibit 4.3 of                    the                    Company's Registration Statement on Form S-4 (No. 333-111975)                    filed on                    January 16, 2004).                                                                                                                                                                                             |
|-----------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 4.5             |   | Senior                    Debt Securities Indenture dated as of January 24, 2007, by and                    between the                    Company and Wells Fargo Bank, National Association, as trustee                    (incorporated by reference from Exhibit 4.1 to the Company’s Current                    Report on Form 8-K filed on January 24, 2007).                                                                                               |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 4.6             |   | First                    Supplemental Indenture to the Senior Debt Securities Indenture                    dated as of                    January 24, 2007, by and between the Company and Wells Fargo                    Bank,                    National Association, as trustee (incorporated by reference from                    Exhibit                    4.2 to the Company’s Current Report on Form 8-K filed on January 24,                    2007).  |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 4.7             |   | Form                    of 7 5/8% Senior Note due 2015 (incorporated by reference from                    Exhibit 4.3                    to the Company’s Current Report on Form 8-K filed on January 24,                    2007).                                                                                                                                                                                                                               |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   4.8 |   | Senior                    Subordinated Debt Securities Indenture dated as of January 24,                    2007, by                    and between the Company and Wells Fargo Bank, National Association,                    as                    trustee (incorporated by reference from Exhibit 4.4 to the Company’s                    Current Report on Form 8-K filed on January 24, 2007).                                                               |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 4.9             |   | First                    Supplemental Indenture to the Senior Subordinated Debt Securities                    Indenture dated as of January 24, 2007, by and between the Company                    and                    Wells Fargo Bank, National Association, as trustee (incorporated                    by                    reference from Exhibit 4.5 to the Company’s Current Report on Form 8-K                    filed on January 24, 2007).        |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 4.10            |   | Form                    of 8 3/8% Subordinated Note due 2017 (incorporated by reference                    from                    Exhibit 4.6 to the Company’s Current Report on Form 8-K filed on January                    24, 2007).                                                                                                                                                                                                                         |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1            |   | Pilgrim’s                    Industries, Inc. Profit Sharing Retirement Plan, restated as                    of July 1,                    1987 (incorporated by reference from Exhibit 10.1 of the Company’s Form                    8-K filed on July 1, 1992). …                                                                                                                                                                                   |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.2            |   | Senior                    Executive Performance Bonus Plan of the Company (incorporated                    by reference                    from Exhibit A in the Company’s Proxy Statement dated December 13, 1999).                    …                                                                                                                                                                                                                   |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.3            |   | Aircraft                    Lease Extension Agreement between B.P. Leasing Co. (L.A. Pilgrim,                    individually) and Pilgrim’s Pride Corporation (formerly Pilgrim’s                    Industries, Inc.) effective November 15, 1992 (incorporated by                    reference                    from Exhibit 10.48 of the Company’s Quarterly Report on Form 10-Q for the                    three months ended March 29, 1997). |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.4            |   | Broiler                    Grower Contract dated May 6, 1997 between Pilgrim’s Pride Corporation and                    Lonnie “Bo” Pilgrim (Farm 30) (incorporated by reference from Exhibit                    10.49 of the Company’s Quarterly Report on Form 10-Q for the three months                    ended March 29, 1997).                                                                                                            |

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Table                of Contents

| 10.5   |   | Commercial                    Egg Grower Contract dated May 7, 1997 between Pilgrim’s Pride Corporation                    and Pilgrim Poultry G.P. (incorporated by reference from Exhibit                    10.50 of                    the Company’s Quarterly Report on Form 10-Q for the three months ended                    March 29, 1997).                                                                                                                                                                                                                |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.6   |   | Agreement                    dated October 15, 1996 between Pilgrim’s Pride Corporation and Pilgrim                    Poultry G.P. (incorporated by reference from Exhibit 10.23 of                    the                    Company’s Quarterly Report on Form 10-Q for the three months ended                    January 2, 1999).                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.7   |   | Heavy                    Breeder Contract dated May 7, 1997 between Pilgrim’s Pride Corporation and                    Lonnie “Bo” Pilgrim (Farms 44, 45 & 46) (incorporated by reference                    from Exhibit 10.51 of the Company’s Quarterly Report on Form 10-Q for the                    three months ended March 29, 1997).                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.8   |   | Broiler                    Grower Contract dated January 9, 1997 by and between Pilgrim’s Pride and                    O.B. Goolsby, Jr. (incorporated by reference from Exhibit 10.25                    of the                    Company’s Registration Statement on Form S-1 (No. 333-29163) effective                    June 27, 1997).                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.9   |   | Broiler                    Grower Contract dated January 15, 1997 by and between Pilgrim’s Pride                    Corporation and B.J.M. Farms (incorporated by reference from                    Exhibit 10.26                    of the Company’s Registration Statement on Form S-1 (No. 333-29163)                    effective June 27, 1997).                                                                                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.10  |   | Broiler                    Grower Agreement dated January 29, 1997 by and between Pilgrim’s Pride                    Corporation and Clifford E. Butler (incorporated by reference                    from Exhibit                    10.27 of the Company’s Registration Statement on Form S-1 (No. 333-29163)                    effective June 27, 1997).                                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.11  |   | Receivables                    Purchase Agreement dated June 26, 1998 between Pilgrim’s Pride Funding                    Corporation, as Seller, Pilgrim’s Pride Corporation, as Servicer, Pooled                    Accounts Receivable Capital Corporation, as Purchaser, and Nesbitt                    Burns                    Securities Inc., as Agent (incorporated by reference from Exhibit                    10.33 of                    the Company’s Quarterly Report on Form 10-Q for the three months ended                    June 27, 1998). |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.12  |   | Purchase                    and Contribution Agreement dated as of June 26, 1998 between                    Pilgrim’s                    Pride Funding Corporation and Pilgrim’s Pride Corporation (incorporated by                    reference from Exhibit 10.34 of the Company’s Quarterly Report on Form                    10-Q for the three months ended June 27, 1998).                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.13  |   | Guaranty                    Fee Agreement between Pilgrim’s Pride Corporation and Pilgrim Interests,                    Ltd., dated June 11, 1999 (incorporated by reference from Exhibit                    10.24 of                    the Company’s Annual Report on Form 10-K for the fiscal year ended October                    2, 1999).                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.14  |   | Broiler                    Production Agreement between Pilgrim's Pride Corporation and                    Lonnie “Bo”                    Pilgrim dated November 15, 2005 (incorporated by reference from                    Exhibit                    99.1 of the Company’s Current Report on Form 8-K dated November 10,                    2005).                                                                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.15  |   | Commercial                    Property Lease dated December 29, 2000 between Pilgrim’s Pride Corporation                    and Pilgrim Poultry G.P. (incorporated by reference from Exhibit                    10.30 of                    the Company’s Quarterly Report on Form 10-Q for the three months ended                    December 30, 2000).                                                                                                                                                                                                            |

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| 10.16  |   | Amendment                    No. 1 dated as of July 12, 2002 to Receivables Purchase Agreement                    dated as                    of June 26, 1998 among Pilgrim’s Pride Funding Corporation, the Company,                    Fairway Finance Corporation (as successor in interest to Pooled                    Accounts                    Receivable Capital Corporation) and BMO Nesbitt Burns Corp. (f/k/a                    Nesbitt                    Burns Securities Inc.) (incorporated by reference from Exhibit                    10.32 of                    the Company’s Annual Report on Form 10-K filed on December 6,                    2002).                                                               |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.17  |   | Amendment                    No. 3 dated as of July 18, 2003 to Receivables Purchase Agreement                    dated as                    of June 26, 1998 between Pilgrim’s Pride Funding Corporation (“Seller”),                    Pilgrim’s Pride Corporation as initial Servicer, Fairway Finance                    Corporation (as successor in interest to Pooled Accounts Receivable                    Capital Corporation) (“Purchaser”) and Harris Nesbitt Corporation as agent                    for the purchaser (incorporated by reference from Exhibit 10.1                    of the                    Company’s Quarterly Report on Form 10-Q filed July 23,                    2003). |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.18  |   | Agricultural                    Lease between Pilgrim’s Pride Corporation (Lessor) and Patrick W. Pilgrim                    (Tenant) dated May 1, 2003 (incorporated by reference from Exhibit                    10.15                    of the Company’s Quarterly Report on Form 10-Q filed July 23,                    2003).                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.19  |   | Amendment                    No. 4 dated as of December 31, 2003 to Receivables Purchase Agreement                    dated as of June 26, 1998, among Pilgrim's Pride Funding Corporation,                    Pilgrim's Pride Corporation as initial Servicer, Fairway Finance                    Company,                    LLC (as successor to Fairway Finance Corporation) as purchaser                    and Harris                    Nesbitt Corp. (f/k/a BMO Nesbitt Burns Corp.) as agent for the                    purchaser                    (incorporated by reference from Exhibit 10.4 of the Company's                    Quarterly                    Report on Form 10-Q filed February 4, 2004).                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.20  |   | Amendment                    No. 1 dated as of December 31, 2003 to Purchase and Contribution                    Agreement                    dated as of June 26, 1998, between Pilgrim's Pride Funding Corporation                    and                    Pilgrim's Pride Corporation (incorporated by reference from Exhibit                    10.5                    of the Company's Quarterly Report on Form 10-Q filed February                    4,                    2004).                                                                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.21  |   | Employee                    Stock Investment Plan of the Company (incorporated by reference                    from                    Exhibit 4.1 of the Company's Registration Statement on Form S-8                    (No.                    333-111929) filed on January 15, 2004). …                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.22  |   | Purchase                    and Amendment Agreement between Pilgrim's Pride Corporation and                    ConAgra                    Foods, Inc. dated August 3, 2005 (incorporated by reference from                    Exhibit                    10.1 of the Company’s Current Report on Form 8-K dated August 4,                    2005).                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.23  |   | Amended                    and Restated 2005 Deferred Compensation Plan of the Company (incorporated                    by reference from Exhibit 10.1 of the Company’s Current Report on Form 8-K                    dated December 30, 2005). …                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.24  |   | Vendor                    Service Agreement dated effective December 28, 2005 between Pilgrim's                    Pride Corporation and Pat Pilgrim (incorporated by reference                    from Exhibit                    10.2 of the Company's Current Report on Form 8-K dated January                    6,                    2006).                                                                                                                                                                                                                                                                                                                                                                                                         |

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| 10.25  |   | Transportation                    Agreement dated effective December 28, 2005 between Pilgrim's                    Pride                    Corporation and Pat Pilgrim (incorporated by reference from Exhibit                    10.3                    of the Company's Current Report on Form 8-K dated January 6,                    2006).                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.26  |   | Ground                    Lease Agreement dated effective January 4, 2006 between Pilgrim's                    Pride                    Corporation and Pat Pilgrim (incorporated by reference from Exhibit                    10.4                    of the Company's Current Report on Form 8-K dated January 6,                    2006).                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.27  |   | Credit                    Agreement by and among the Avícola Pilgrim’s Pride de México, S. de R.L.                    de C.V. (the "Borrower"), Pilgrim's Pride Corporation, certain                    Mexico                    subsidiaries of the Borrower, ING Capital LLC, and the lenders                    signatory                    thereto dated as of September 25, 2006 (incorporated by reference                    from                    Exhibit 10.1 of the Company's Current Report on Form 8-K filed                    on                    September 28, 2006).                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.28  |   | 2006                    Amended and Restated Credit Agreement by and among CoBank, ACB,                    Agriland,                    FCS and the Company dated as of September 21, 2006 (incorporated                    by                    reference from Exhibit 10.2 of the Company's Current Report on                    Form 8-K                    filed on September 28, 2006).                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.29  |   | First                    Amendment to the Pilgrim’s Pride Corporation Amended and Restated 2005                    Deferred Compensation Plan Trust, dated as of November 29, 2006                    (incorporated by reference from Exhibit 10.03 of the Company’s Current                    Report on Form 8-K filed on December 05, 2006). …                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.30  |   | Agreement                    and Plan of Merger dated as of December 3, 2006, by and among                    the Company,                    the Purchaser and Gold Kist Inc. (incorporated by reference from                    Exhibit                    99.(D)(1) to Amendment No. 11 to the Company’s Tender Offer Statement on                    Schedule TO filed on December 5, 2006).                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.31  |   | First                    Amendment to Credit Agreement, dated as of December 13, 2006,                    by and among                    the Company, as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as a                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.01 to the Company’s Current                    Report on Form 8-K filed on December 19, 2006).                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.32  |   | Second                    Amendment to Credit Agreement, dated as of January 4, 2007, by                    and among                    the Company, as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as a                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.01 to the Company’s Current                    Report on Form 8-K filed on January 9, 2007).                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.33  |   | Fourth                    Amended and Restated Secured Credit Agreement, dated as of February                    8,                    2007, by and among the Company, To-Ricos, Ltd., To-Ricos Distribution,                    Ltd., Bank of Montreal, as agent, SunTrust Bank as syndication                    agent, U.S.                    Bank National Association and Wells Fargo Bank, National Association                    as                    Co-Documentation Agents, BMO Capital Market as lead arranger,                    and the                    other lenders signatory thereto (incorporated by reference from                    Exhibit                    10.01 of the Company’s Current Report on Form 8-K dated February 12,                    2007). |

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| 10.34  |   | Third                    Amendment to Credit Agreement, dated as of February 7, 2007,                    by and among                    the Company as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and the sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as a                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.02 of the Company’s Current                    Report on Form 8-K dated February 12, 2007).       |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.35  |   | First                    Amendment to Credit Agreement, dated as of March 15, 2007, by                    and among                    the Borrower, the Company, the Subsidiary Guarantors, ING Capital                    LLC, and                    the Lenders (incorporated by reference from Exhibit 10.01 of                    the Company’s                    Current Report on Form 8-K dated March 20, 2007).                                                                                                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.36  |   | Fourth                    Amendment to Credit Agreement, dated as of July 3, 2007, by and                    among the                    Company as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and the sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.1 of the Company's                    Quarterly                    Report on Form 10-Q filed July 31, 2007). |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.37  |   | Amendment                    No. 5 to Receivables Purchase Agreement dated as of August 20,                    2007, among                    the Company, Pilgrim's Pride Funding Corporation, Fairway Finance                    Company,                    LLC and BMO Capital Markets Corp. (incorporated by reference                    from Exhibit                    10.01 of the Company’s Current Report on Form 8-K dated August 24,                    2007).                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.38  |   | Retirement                    and Consulting Agreement dated as of October 10, 2007, between                    the Company                    and Clifford E. Butler (incorporated by reference from Exhibit                    10.1 of the                    Company’s Current Report on Form 8-K dated October 10, 2007). …                                                                                                                                                                                                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.39  |   | Fifth                    Amendment to Credit Agreement, dated as of August 7, 2007, by                    and among                    the Company as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and the sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as                    syndication party, and the other syndication parties signatory                    thereto.*                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.40  |   | Sixth                    Amendment to Credit Agreement, dated as of November 7, 2007,                    by and among                    the Company as borrower, CoBank, ACB, as administrative agent,                    and the                    other syndication parties signatory thereto (incorporated by                    reference                    from Exhibit 10.1 of the Company’s Current Report on Form 8-K dated                    November 13, 2007).                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 12     |   | Ratio                    of Earnings to Fixed Charges for the years ended September 29,                    2007,                    September 30, 2006, October 1, 2005, October 2, 2004, September                    27, 2003,                    and September 28, 2002.*                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 21     |   |     Subsidiaries                    of Registrant.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 23     |   |                        Consent of Ernst & Young LLP.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 31.1   |   | Certification                    of Co-Principal Executive Officer pursuant to Section 302 of                    the                    Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

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| 31.2   |   | Certification                    of Co-Principal Executive Officer pursuant to Section 302 of                    the                    Sarbanes-Oxley Act of 2002.*                                            |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                            |
| 31.3   |   | Certification                    of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley                    Act of 2002.*                                                                      |
|   |   |                                                                                                                                                                                                            |
| 32.1   |   | Certification                    of Co-Principal Executive Officer of Pilgrim's Pride Corporation                    pursuant                    to Section 906 of the Sarbanes-Oxley Act of 2002.*             |
|   |   |                                                                                                                                                                                                            |
| 32.2   |   | Certification                    of Co-Principal Executive Officer of Pilgrim's Pride Corporation                    pursuant                    to Section 906 of the Sarbanes-Oxley Act of 2002.*             |
|   |   |                                                                                                                                                                                                            |
| 32.3   |   | Certification                    of Chief Financial Officer of Pilgrim's Pride Corporation pursuant                    to                    Section 906 of the Sarbanes-Oxley Act of                    2002.* |

|   | *Filed                    herewith |
|--------|------------------------------------|

|   | …Represents                    a management contract or compensation plan                    arrangement |
|--------|----------------------------------------------------------------------------------------------------------------|

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SIGNATURES

| By:    | /s/                    Richard A. Cogdill                           |
|--------|---------------------------------------------------------------------|
|   | Richard                    A. Cogdill                               |
|   | Chief                    Financial Officer, Secretary and Treasurer |
|   | (Principal                    Financial and Accounting Officer)     |

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| Signature                                              |              Title | Date     |
|--------------------------------------------------------|-------------------------------------------------------------------------------------|----------|
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Lonnie “Bo” Pilgrim | Senior                    Chairman of the Board                                     | 11/19/07 |
| Lonnie                    “Bo” Pilgrim     |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Lonnie Ken Pilgrim              | Chairman                    of the Board                                            | 11/19/07 |
| Lonnie                    Ken Pilgrim                  |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Clifford E. Butler              | Vice                    Chairman of the Board                                       | 11/19/07 |
| Clifford                    E. Butler                  |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    O.B. Goolsby, Jr.               | President                                                                           | 11/19/07 |
| O.B.                    Goolsby, Jr.                   | Chief                    Executive Officer                                          |     |
|                                                   | Director                                                                            |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Richard A. Cogdill              | Chief                    Financial Officer,                                         | 11/19/07 |
| Richard                    A. Cogdill                  | Secretary                    and Treasurer                                          |     |
|                                                   | Director                                                                            |     |
|                                                   | (Principal                    Financial and Accounting Officer)                     |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Charles L. Black                | Director                                                                            | 11/19/07 |
| Charles                    L. Black                    |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Linda Chavez                    | Director                                                                            | 11/16/07 |
| Linda                    Chavez                        |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    S. Key Coker                    | Director                                                                            | 11/19/07 |
| S.                    Key Coker                        |                                                                                |     |
|                                                   |                                                                                |     |
|                                                   |                                                                                |     |
| /s/                    Keith W. Hughes                 | Director                                                                            | 11/19/07 |
| Keith                    W. Hughes                     |                                                                                |     |

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|                                         |     |     |
|----------------------------------------------|----------|----------|
|                                         |     |     |
| /s/                    Blake D. Lovette      | Director | 11/19/07 |
| Blake                    D. Lovette          |     |     |
|                                         |     |     |
|                                         |     |     |
| /s/                    Vance C. Miller, Sr.  | Director | 11/19/07 |
| Vance                    C. Miller, Sr.      |     |     |
|                                         |     |     |
|                                         |     |     |
| /s/                    James G. Vetter, Jr.  | Director | 11/19/07 |
| James                    G. Vetter, Jr.      |     |     |
|                                         |     |     |
|                                         |     |     |
| /s/                    Donald L. Wass, Ph.D. | Director | 11/19/07 |
| Donald                    L. Wass, Ph.D.     |     |     |
|                                         |     |     |
|                                         |     |     |

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REPORT          OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING          FIRM

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Consolidated          Balance Sheets

| (In                    thousands, except share and per share data)                                                                          |   | September                    29, 2007 |      |   | September                    30, 2006 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|-----------|--------|---------------------------------------|--------|
| Assets                                                                                                                                      |   |                                  |      |   |                                  |   |
| Current                    Assets:                                                                                                          |   |                                  |      |   |                                  |   |
| Cash                    and cash equivalents                                                                                                |   | $                                     | 66,168    |   |                                  | $      | 156,404 |   |
| Investment                    in available-for-sale securities                                                                              |   |                                  | 8,153     |   |                                  |   | 21,246 |   |
| Trade                    accounts and other receivables, lessallowance                    for doubtful accounts                             |   |                                  | 130,173   |   |                                  |   | 263,149 |   |
| Inventories                                                                                                                                 |   |                                  | 961,885   |   |                                  |   | 585,940 |   |
| Income                    taxes receivable                                                                                                  |   |                                  | 61,901    |   |                                  |   | 39,167 |   |
| Current                    deferred taxes                                                                                                   |   |                                  | 8,095     |   |                                  |   | 7,288 |   |
| Other                    current assets                                                                                                     |   |                                  | 47,959    |   |                                  |   | 32,480 |   |
| Total                    Current Assets                                                                                                     |   |                                  | 1,284,334 |   |                                  |   | 1,105,674 |   |
|                                                                                                                                        |   |                                  |      |   |                                  |   |   |   |
| Investment                    in Available-for-Sale Securities                                                                              |   |                                  | 46,035    |   |                                  |   | 115,375 |   |
| Other                    Assets                                                                                                             |   |                                  | 138,546   |   |                                  |   | 50,825 |   |
| Goodwill                                                                                                                                    |   |                                  | 505,166   |   |                                  |   | -- |   |
| Property,                    Plant and Equipment:                                                                                           |   |                                  |      |   |                                  |   |   |   |
| Land                                                                                                                                        |   |                                  | 115,101   |   |                                  |   | 52,493 |   |
| Buildings,                    machinery and equipment                                                                                       |   |                                  | 2,391,154 |   |                                  |   | 1,702,949 |   |
| Autos                    and trucks                                                                                                         |   |                                  | 59,559    |   |                                  |   | 57,177 |   |
| Construction                    in progress                                                                                                 |   |                                  | 124,193   |   |                                  |   | 63,853 |   |
|                                                                                                                                        |   |                                  | 2,690,007 |   |                                  |   | 1,876,472 |   |
| Less                    accumulated depreciation                                                                                            |   |                                  | (889,852  | )      |                                  |   | (721,478 | ) |
|                                                                                                                                        |   |                                  | 1,800,155 |   |                                  |   | 1,154,994 |   |
|                                                                                                                                        |   | $                                     | 3,774,236 |   |                                  | $      | 2,426,868 |   |
| Liabilities                    and Stockholders’ Equity                                                                               |   |                                  |      |   |                                  |   |   |   |
| Current                    Liabilities:                                                                                                     |   |                                  |      |   |                                  |   |   |   |
| Accounts                    payable                                                                                                         |   | $                                     | 402,316   |   |                                  | $      | 293,685 |   |
| Accrued                    expenses                                                                                                         |   |                                  | 500,014   |   |                                  |   | 272,830 |   |
| Current                    maturities of long-term debt                                                                                     |   |                                  | 2,872     |   |                                  |   | 10,322 |   |
| Total                    Current Liabilities                                                                                                |   |                                  | 905,202   |   |                                  |   | 576,837 |   |
|                                                                                                                                        |   |                                  |      |   |                                  |   |   |   |
| Long-Term                    Debt, Less Current Maturities                                                                                  |   |                                  | 1,318,558 |   |                                  |   | 554,876 |   |
| Deferred                    Income Taxes                                                                                                    |   |                                  | 326,570   |   |                                  |   | 175,869 |   |
| Other                    Long-Term Liabilities                                                                                              |   |                                  | 51,685    |   |                                  |   | 1,958 |   |
|                                                                                                                                        |   |                                  |      |   |                                  |   |   |   |
| Commitments                    and Contingencies                                                                                            |   |                                  | --        |   |                                  |   | -- |   |
| Stockholders’                    Equity:                                                                                              |   |                                  |      |   |                                  |   |   |   |
| Preferred                    stock, $.01 par value, 5,000,000 authorized shares; none                    issued                             |   |                                  | --        |   |                                  |   | -- |   |
| Common                    stock – $.01 par value, 160,000,000 authorized shares; 66,555,733 issued                    and outstanding |   |                                  | 665       |   |                                  |   | 665 |   |
| Additional                    paid-in capital                                                                                               |   |                                  | 469,779   |   |                                  |   | 469,779 |   |
| Retained                    earnings                                                                                                        |   |                                  | 687,775   |   |                                  |   | 646,750 |   |
| Accumulated                    other comprehensive income                                                                                   |   |                                  | 14,002    |   |                                  |   | 134 |   |
| Total                    Stockholders’ Equity                                                                                         |   |                                  | 1,172,221 |   |                                  |   | 1,117,328 |   |
|                                                                                                                                        |   | $                                     | 3,774,236 |   |                                  | $      | 2,426,868 |   |
| See                    Notes to Consolidated Financial Statements                                                                           |   |

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Table                of Contents

Consolidated          Statements of Operations

| (In                    thousands, except per share data)                  |   | Three                    Years Ended September 29, 2007 |      |
|---------------------------------------------------------------------------|--------|---------------------------------------------------------|-----------|
|                                                                      |   | 2007                                                    |      |   | 2006 |   |   | 2005 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |
| Net                    Sales                                              |   | $                                                       | 7,598,599 |   |   | $ | 5,235,565 |   |   | $ | 5,666,275 |   |
| Cost                    and Expenses:                                     |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Cost                    of sales                                          |   |                                                    | 7,007,061 |   |   |   | 4,937,965 |   |   |   | 4,921,076 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Gross                    Profit                                           |   |                                                    | 591,538   |   |   |   | 297,600 |   |   |   | 745,199 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Selling,                    general and administrative                    |   |                                                    | 359,001   |   |   |   | 294,598 |   |   |   | 309,387 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Operating                    Income                                       |   |                                                    | 232,537   |   |   |   | 3,002 |   |   |   | 435,812 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Other                    Expenses (Income):                               |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Interest                    expense                                       |   |                                                    | 125,757   |   |   |   | 50,601 |   |   |   | 49,585 |   |
| Interest                    income                                        |   |                                                    | (4,640    | ) |   |   | (10,048 | ) |   |   | (5,653 | ) |
| Loss                    on early extinguishment of debt                   |   |                                                    | 26,463    |   |   |   | -- |   |   |   | -- |   |
| Foreign                    exchange (gain) loss                           |   |                                                    | 1,378     |   |   |   | 144 |   |   |   | (474 | ) |
| Miscellaneous,                    net                                     |   |                                                    | (8,028    | ) |   |   | (1,378 | ) |   |   | (11,169 | ) |
|                                                                      |   |                                                    | 140,930   |   |   |   | 39,319 |   |   |   | 32,289 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| Income                    (Loss) Before Income Taxes                      |   |                                                    | 91,607    |   |   |   | (36,317 | ) |   |   | 403,523 |   |
| Income                    Tax Expense (Benefit)                           |   |                                                    | 44,590    |   |   |   | (2,085 | ) |   |   | 138,544 |   |
| Net                    Income (Loss)                                      |   | $                                                       | 47,017    |   |   | $ | (34,232 | ) |   | $ | 264,979 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| N                    Net Income (Loss) per Common Share-Basic and Diluted |   | $                                                       | 0.71      |   |   | $ | (0.51 | ) |   | $ | 3.98 |   |
|                                                                      |   |                                                    |      |   |   |   |   |   |   |   |   |   |
| See                    Notes to Consolidated Financial Statements         |   |                                                    |      |   |   |   |   |   |   |   |   |   |

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Table                of Contents

Consolidated          Statements of Stockholders’Equity

|                                                                            |   |                            |        |   |   |   |   |       |   |   |     |   |   | Accumulated                      |    |   |     |   |   |   |   |
|---------------------------------------------------------------------------------|--------|---------------------------------|-------------|--------|--------|--------|--------|------------|--------|--------|----------|--------|--------|----------------------------------|---------|--------|----------|--------|--------|--------|--------|
|                                                                            |   |                            |        |   | Total  |   |   | Additional |   |   |     |   |   | Other                            |    |   |     |   |   |   |   |
|                                                                            |   | Shares                    of    |        |   | Par    |   |   | Paid-In    |   |   | Retained |   |   | Comprehensive                    |    |   | Treasury |   |   |   |   |
|                                                                            |   | Common                    Stock |        |   | Value  |   |   | Capital    |   |   | Earnings |   |   | Income                    (Loss) |    |   | Stock    |   |   | Total  |   |
|                                                                            |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |
| Balance                    at October 2, 2004                                   |   |                            | 66,826,833  |   |   | $      | 668    |       |   | $      | 431,662  |   |   | $                                | 492,542 |   |     | $      | (348   | )      |   | $ | (1,568 | ) |   | $ | 922,956 |   |
| Sale                    of common stock                                         |   |                            | 15,443,054  |   |   |   | 154    |       |   |   | 521,774  |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   | 521,928 |   |
| Purchase                    and retirement of common                    stock   |   |                            | (15,443,054 | )      |   |   | (154   | )          |   |   | (482,092 | )      |   |                             |    |   |     |   |   |   |   |   |   |   |   |   | (482,246 | ) |
| Net                    income for year                                          |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             | 264,979 |   |     |   |   |   |   |   |   |   |   |   | 264,979 |   |
| Other                    comprehensive loss                                     |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   | (25    | )      |   |   |   |   |   |   | (25 | ) |
| Total                    comprehensive income                                   |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   | 264,954 |   |
| Cash                    dividends declared ($.06                    per share)  |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             | (3,993  | )      |     |   |   |   |   |   |   |   |   |   | (3,993 | ) |
|                                                                            |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   |   |   |
| Balance                    at October 1, 2005                                   |   |                            | 66,826,833  |   |   |   | 668    |       |   |   | 471,344  |   |   |                             | 753,527 |   |     |   | (373   | )      |   |   | (1,568 | ) |   |   | 1,223,598 |   |
| Cancellation                    of Treasury Stock                               |   |                            | (271,100    | )      |   |   | (3     | )          |   |   | (1,565   | )      |   |                             |    |   |     |   |   |   |   |   | 1,568 |   |   |   |   |   |
| Net                    loss for year                                            |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             | (34,232 | )      |     |   |   |   |   |   |   |   |   |   | (34,232 | ) |
| Other                    comprehensive income                                   |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   | 507    |   |   |   |   |   |   |   | 507 |   |
| Total                    comprehensive loss                                     |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   | (33,725 | ) |
| Cash                    dividends declared ($1.09                    per share) |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             | (72,545 | )      |     |   |   |   |   |   |   |   |   |   | (72,545 | ) |
|                                                                            |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   |   |   |
| Balance                    at September 30, 2006                                |   |                            | 66,555,733  |   |   |   | 665    |       |   |   | 469,779  |   |   |                             | 646,750 |   |     |   | 134    |   |   |   | -- |   |   |   | 1,117,328 |   |
| Net                    income for year                                          |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             | 47,017  |   |     |   |   |   |   |   |   |   |   |   | 47,017 |   |
| Other                    comprehensive income                                   |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   | 13,868 |   |   |   |   |   |   |   | 13,868 |   |
| Total                    comprehensive income                                   |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   | 60,885 |   |
| Cash                    dividends declared ($.09                    per share)  |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             | (5,992  | )      |     |   |   |   |   |   |   |   |   |   | (5,992 | ) |
| Balance                    at September 29, 2007                                |   |                            | 66,555,733  |   |   | $      | 665    |       |   | $      | 469,779  |   |   | $                                | 687,775 |   |     | $      | 14,002 |   |   |   | -- |   |   | $ | 1,172,221 |   |
|                                                                            |   |                            |        |   |   |   |   |       |   |   |     |   |   |                             |    |   |     |   |   |   |   |   |   |   |   |   |   |   |

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Consolidated          Statements of Cash Flows

| (In                    thousands)                                                                                         |   | Three                    Years Ended September 29, 2007 |       |
|---------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|------------|
|                                                                                                                      |   | 2007                                                    |       |   | 2006 |   |   | 2005 |   |
| Cash                    Flows From Operating Activities:                                                                  |   |                                                    |       |   |   |   |   |   |   |
| Net                    income (loss)                                                                                      |   | $                                                       | 47,017     |   |   | $ | (34,232 | ) |   | $ | 264,979 |   |
| Adjustments                    to reconcile net income (loss) to cash provided byoperating                    activities  |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Depreciation                    and amortization                                                                          |   |                                                    | 204,903    |   |   |   | 135,133 |   |   |   | 134,944 |   |
| Non-cash                    loss on early extinguishment of debt                                                          |   |                                                    | 9,543      |   |   |   | -- |   |   |   | -- |   |
| Asset                    impairment                                                                                       |   |                                                    | --         |   |   |   | 3,767 |   |   |   | -- |   |
| (Gain)                    loss on property disposals                                                                      |   |                                                    | (446       | ) |   |   | 1,781 |   |   |   | 4,326 |   |
| Deferred                    income taxes                                                                                  |   |                                                    | 83,884     |   |   |   | 20,455 |   |   |   | 2,247 |   |
| Changes                    in operating assets and liabilities, net of the effect of business                    acquired |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Accounts                    and other receivables                                                                         |   |                                                    | 247,217    |   |   |   | 31,121 |   |   |   | 21,192 |   |
| Income                    taxes (payable) receivable                                                                      |   |                                                    | 5,570      |   |   |   | (55,363 | ) |   |   | (38,251 | ) |
| Inventories                                                                                                               |   |                                                    | (129,645   | ) |   |   | (58,612 | ) |   |   | 82,669 |   |
| Prepaid                    expenses and other current assets                                                              |   |                                                    | (2,981     | ) |   |   | (6,594 | ) |   |   | 20,800 |   |
| Accounts                    payable, and accrued expenses                                                                 |   |                                                    | (5,097     | ) |   |   | (3,501 | ) |   |   | (610 | ) |
| Other                                                                                                                     |   |                                                    | 3,999      |   |   |   | (3,573 | ) |   |   | 777 |   |
| Cash                    Provided by Operating Activities                                                                  |   |                                                    | 463,964    |   |   |   | 30,382 |   |   |   | 493,073 |   |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Investing                    Activities:                                                                                  |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Acquisitions                    of property, plant and equipment                                                          |   |                                                    | (172,323   | ) |   |   | (143,882 | ) |   |   | (116,588 | ) |
| Purchase                    of investment securities                                                                      |   |                                                    | (125,045   | ) |   |   | (318,266 | ) |   |   | (305,458 | ) |
| Proceeds                    from sale or maturity of investment securities                                                |   |                                                    | 208,676    |   |   |   | 490,764 |   |   |   | -- |   |
| Business                    acquisition, net of cash acquired                                                             |   |                                                    | (1,102,069 | ) |   |   | -- |   |   |   | -- |   |
| Proceeds                    from property disposals                                                                       |   |                                                    | 6,286      |   |   |   | 4,148 |   |   |   | 4,963 |   |
| Other,                    net                                                                                             |   |                                                    | --         |   |   |   | (506 | ) |   |   | (524 | ) |
| Cash                    Provided by (Used in) Investing Activities                                                        |   |                                                    | (1,184,475 | ) |   |   | 32,258 |   |   |   | (417,607 | ) |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Financing                    Activities:                                                                                  |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Proceeds                    from notes payable to banks                                                                   |   |                                                    | --         |   |   |   | 270,500 |   |   |   | -- |   |
| Repayments                    on notes payable to banks                                                                   |   |                                                    | --         |   |   |   | (270,500 | ) |   |   | -- |   |
| Proceeds                    from long-term debt                                                                           |   |                                                    | 751,255    |   |   |   | 74,683 |   |   |   | -- |   |
| Payments                    on long-term debt                                                                             |   |                                                    | (1,368,700 | ) |   |   | (36,950 | ) |   |   | (16,829 | ) |
| Bank                    overdraft activity                                                                                |   |                                                    | 39,231     |   |   |   | -- |   |   |   | -- |   |
| Purchases                    for retirement of common stock                                                               |   |                                                    | --         |   |   |   | -- |   |   |   | (482,246 | ) |
| Sale                    of common stock                                                                                   |   |                                                    | --         |   |   |   | -- |   |   |   | 521,928 |   |
| Borrowing                    for acquisition                                                                              |   |                                                    | 1,230,000  |   |   |   | -- |   |   |   | -- |   |
| Equity                    and debt issue costs                                                                            |   |                                                    | (15,565    | ) |   |   | (3,938 | ) |   |   | -- |   |
| Cash                    dividends paid                                                                                    |   |                                                    | (5,992     | ) |   |   | (72,545 | ) |   |   | (3,993 | ) |
| Cash                    Provided by (Used in) Financing Activities                                                        |   |                                                    | 630,229    |   |   |   | (38,750 | ) |   |   | 18,860 |   |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Effect                    of exchange rate changes on cash and cash equivalents                                           |   |                                                    | 46         |   |   |   | (53 | ) |   |   | 76 |   |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| (Decrease)                    increase in cash and cash equivalents                                                       |   |                                                    | (90,236    | ) |   |   | 23,837 |   |   |   | 94,402 |   |
| Cash                    and cash equivalents at beginning of year                                                         |   |                                                    | 156,404    |   |   |   | 132,567 |   |   |   | 38,165 |   |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Cash                    and Cash Equivalents at End of Year                                                               |   | $                                                       | 66,168     |   |   | $ | 156,404 |   |   | $ | 132,567 |   |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Supplemental                    Disclosure Information:                                                                   |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Cash                    paid during the year for:                                                                         |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| Interest                    (net of amount capitalized)                                                                   |   | $                                                       | 104,394    |   |   | $ | 48,590 |   |   | $ | 46,945 |   |
| Income                    taxes paid                                                                                      |   | $                                                       | 11,164     |   |   | $ | 37,813 |   |   | $ | 172,929 |   |
|                                                                                                                      |   |                                                    |       |   |   |   |   |   |   |   |   |   |
| See                    Notes to Consolidated Financial Statements                                                         |   |                                                    |       |   |   |   |   |   |   |   |   |   |

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Table                of Contents

NOTES            TO CONSOLIDATED FINANCIAL STATEMENTS

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|                                         |   | September                    29, 2007     |    |   | September                    30, 2006 |   |
|----------------------------------------------|--------|-------------------------------------------|---------|--------|---------------------------------------|--------|
|                                         |   | (Dollars                    in thousands) |    |
|                                         |   |                                      |    |   |                                  |   |
| Compensation                    and benefits |   | $                                         | 231,401 |   |                                  | $      | 143,555 |   |
| Interest                                     |   |                                      | 49,063  |   |                                  |   | 5,276 |   |
| Other                                        |   |                                      | 219,550 |   |                                  |   | 123,999 |   |
|                                         |   |                                      |    |   |                                  |   |   |   |
| Accrued                    expenses          |   | $                                         | 500,014 |   |                                  | $      | 272,830 |   |

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|                                                                     |   |   |      |
|--------------------------------------------------------------------------|--------|--------|-----------|
| Purchase                    50,146,368 shares at $21.00 per share        |   | $      | 1,053,074 |   |
| Premium                    paid on retirement of debt                    |   |   | 22,208    |   |
| Retirement                    of various share-based compensation awards |   |   | 25,677    |   |
| Various                    costs and fees                                |   |   | 37,740    |   |
| Total                    purchase price                                  |   | $      | 1,138,699 |   |

| Current                    assets                          |   | $      | 418,583   |   |
|------------------------------------------------------------|--------|--------|-----------|--------|
| Property,                    plant and equipment           |   |   | 675,054   |   |
| Goodwill                                                   |   |   | 505,166   |   |
| Intangible                    assets                       |   |   | 64,500    |   |
| Other                    assets                            |   |   | 65,597    |   |
| Total                    assets acquired                   |   |   | 1,728,900 |   |
| Current                    liabilities                     |   |   | 276,194   |   |
| Long-term                    debt, less current maturities |   |   | 140,674   |   |
| Deferred                    income taxes                   |   |   | 93,509    |   |
| Other                    long-term liabilities             |   |   | 79,824    |   |
| Total                    liabilities assumed               |   |   | 590,201   |   |
| Total                    purchase price                    |   | $      | 1,138,699 |   |
|                                                       |   |   |      |   |

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|                                                                              |   |                             |    |   |                          |   |   |   |
|-----------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|-------------------------------|--------|--------|--------|
|                                                                              |   | Estimated                        |    |   | Amortization                  |   |
|                                                                              |   | Fair                    Value    |    |   | Period                        |   |
|                                                                              |   | (In                    millions) |    |   | (In                    years) |   |
|                                                                              |   |                             |    |   |                          |   |   |   |
| I                      In tangible assets subject to amortization: |   |                             |    |   |                          |   |   |   |
|  Customer                    relationships                                   |   | $                                | 51,000  |   |                          |   | 13.0   |   |
|  Trade                    name                                               |   |                             | 13,200  |   |                          |   | 3.0    |   |
|  Non-compete                    agreements                                   |   |                             | 300     |   |                          |   | 3.0    |   |
|                                                                              |   |                             |    |   |                          |   |   |   |
| Total                    intangible assets subject to amortization                |   |                             | 64,500  |   |                          |   |        |   |
| G Goodwill                                                                   |   |                             | 505,166 |   |                          |   |   |   |
|                                                                              |   |                             |    |   |                          |   |   |   |
| Total                    intangible assets                                        |   | $                                | 569,666 |   |                          |   |   |   |
|                                                                              |   |                             |    |   |                          |   |   |   |
|                        Weighted average amortization period        |   |                             |    |   |                          |   | 10.9   |   |

| -   | The                    combined company is now positioned as the world’s leading chicken producer                    and that position has provided us with enhanced abilities                    to: |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Compete                    more efficiently and provide even better customer                    service; |
|--------------------|----------------------------------------------------------------------------------------------------------|

| ·   | Expand                    our geographic reach and customer                    base; |
|--------------------|--------------------------------------------------------------------------------------|

| ·   | Further                    pursue value-added and prepared foods opportunities;                    and |
|--------------------|--------------------------------------------------------------------------------------------------------|

| ·   | Offer                    long-term growth opportunities for our stockholders, employees,                    and                    growers. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| -   | The                    combined company is better positioned to compete in the industry                    both                    internationally and in the United States as additional consolidation                    occurs. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| In                    thousands, except share and per share data               |   |                                                         |       |   |                                                         |   |
|--------------------------------------------------------------------------------|--------|--------------------------------------------------------------|------------|--------|--------------------------------------------------------------|--------|
|                                                                           |   | Fiscal                    2007(Pro                    forma) |       |   | Fiscal                    2006(Pro                    forma) |   |
| Net                    sales                                                   |   | $                                                            | 8,126,409  |   |                                                         | $      | 7,352,018 |   |
| Depreciation                    and amortization                               |   | $                                                            | 230,126    |   |                                                         | $      | 228,105 |   |
| Operating                    income (loss)                                     |   | $                                                            | 201,986    |   |                                                         | $      | (53,585 | ) |
| Interest                    expense, net                                       |   | $                                                            | 146,928    |   |                                                         | $      | 125,314 |   |
| Income                    (loss) before taxes                                  |   | $                                                            | 36,372     |   |                                                         | $      | (172,740 | ) |
| Net                    income (loss)                                           |   | $                                                            | 12,832     |   |                                                         | $      | (118,571 | ) |
| Net                    income (loss) per common share                          |   | $                                                            | 0.19       |   |                                                         | $      | (1.78 | ) |
|                        Weighted average shares outstanding |   |                                                         | 66,555,733 |   |                                                         |   | 66,555,733 |   |

|                                                                                                                  |   | September                    29, |    |   | September                    30, |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|----------------------------------|--------|
| (In                    thousands)                                                                                     |   | 2007                             |    |   | 2006                             |   |
| Chicken:                                                                                                              |   |                             |    |   |                             |   |
| Live                    chicken and hens                                                                              |   | $                                | 343,185 |   |                             | $      | 196,284 |   |
| Feed                    and eggs                                                                                      |   |                             | 223,631 |   |                             |   | 132,309 |   |
| Finished                    chicken products                                                                          |   |                             | 337,052 |   |                             |   | 201,516 |   |
|                                                                                                                  |   |                             | 903,868 |   |                             |   | 530,109 |   |
| Turkey:                                                                                                               |   |                             |    |   |                             |   |   |   |
| Live                    turkey and hens                                                                               |   | $                                | 8,839   |   |                             | $      | 7,138 |   |
| Feed                    and eggs                                                                                      |   |                             | 2,664   |   |                             |   | 4,740 |   |
| Finished                    turkey products                                                                           |   |                             | 25,929  |   |                             |   | 26,685 |   |
|                                                                                                                  |   |                             | 37,432  |   |                             |   | 38,563 |   |
| Other                    Products:                                                                                    |   |                             |    |   |                             |   |   |   |
|                       Commercial feed, table eggs, and retail farm store                                    |   | $                                | 11,327  |   |                             | $      | 7,080 |   |
|                       Distribution inventories(other                    than chicken & turkey products) |   |                             | 9,258   |   |                             |   | 10,188 |   |
|                                                                                                                  |   |                             | 20,585  |   |                             |   | 17,268 |   |
|                                                                                                                  |   |                             |    |   |                             |   |   |   |
| Total                    Inventories                                                                                  |   | $                                | 961,885 |   |                             | $      | 585,940 |   |

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| (in                    thousands)                                                                                                                           | FinalMaturity |   | September                    29, 2007 |      |   | September                    30, 2006 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|--------|---------------------------------------|-----------|--------|---------------------------------------|--------|
|                                                                                                                                                        |          |   |                                  |      |   |                                  |   |
| Senior                    unsecured notes, at 7 5/8%                                                                                                        | 2015          |   | $                                     | 400,000   |   |                                  | $      | -- |   |
| Senior                    unsecured notes, at 8 3/8%                                                                                                        | 2017          |   |                                  | 250,000   |   |                                  |   | -- |   |
| Senior                    unsecured notes, at 9 5/8%                                                                                                        | 2011          |   |                                  | --        |   |                                  |   | 299,601 |   |
| Senior                    subordinated unsecured notes, at 9 1/4%                                                                                           | 2013          |   |                                  | 5,135     |   |                                  |   | 82,640 |   |
| Secured                    revolving credit facility with notes payable at LIBOR plus 1.25%                    to LIBOR                    plus 2.75%       | 2011          |   |                                  | 26,293    |   |                                  |   | 74,682 |   |
| Note                    payable to an insurance company at 6.68%                                                                                            | 2012          |   |                                  | --        |   |                                  |   | 50,115 |   |
| Notes                    payable to an insurance company at LIBOR plus 2.2075%                                                                              | 2013          |   |                                  | --        |   |                                  |   | 41,333 |   |
| Secured                    revolving-term/credit facility with notes payable at LIBOR or                    US                    Treasuries, plus a spread | 2016          |   |                                  | 622,350   |   |                                  |   | -- |   |
| Other                                                                                                                                                       | Various       |   |                                  | 17,652    |   |                                  |   | 16,827 |   |
|                                                                                                                                                        |          |   |                                  | 1,321,430 |   |                                  |   | 565,198 |   |
| Less                    current maturities                                                                                                                  |          |   |                                  | (2,872    | )      |                                  |   | (10,322 | ) |
| Total                                                                                                                                                       |          |   | $                                     | 1,318,558 |   |                                  | $      | 554,876 |   |

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| (In                    thousands)                |   | 2007   |    |   | 2006   |   |    | 2005   |   |
|--------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|--------|
| Current:                                         |   |   |    |   |   |   |    |   |   |
| Federal                                          |   | $      | (37,191 | )      |   | $      | (23,147 | )      |   | $ | 117,518 |   |
| Foreign                                          |   |   | 1,573   |   |   |   | 5,130   |   |   |   | 3,880 |   |
| State                    and other               |   |   | (3,676  | )      |   |   | (4,523  | )      |   |   | 14,899 |   |
| Total                    current                 |   |   | (39,294 | )      |   |   | (22,540 | )      |   |   | 136,297 |   |
| Deferred                                         |   |   |    |   |   |   |    |   |   |   |   |   |
| Federal                                          |   |   | 73,285  |   |   |   | 9,511   |   |   |   | (1,594 | ) |
| Foreign                                          |   |   | (1,637  | )      |   |   | 10,221  |   |   |   | 4,475 |   |
| State                    and other               |   |   | 12,236  |   |   |   | 723     |   |   |   | 113 |   |
| Total                    deferred                |   |   | 83,884  |   |   |   | 20,455  |   |   |   | 2,994 |   |
| Change                    in valuation allowance |   |   | --      |   |   |   | --      |   |   |   | (747 | ) |
|                                             |   | $      | 44,590  |   |   | $      | (2,085  | )      |   | $ | 138,544 |   |

|                                                                                                                                    |   | 2007   |   |   | 2006   |   |   | 2005                 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|----------------------|--------|
|  Federal                    income tax rate                                                                                        |   |   | 35.0   | %      |   |   | (35.0  | )                  % |   |   | 35.0 | % |
|  State                    tax rate, net                                                                                            |   |   | 2.6    |   |   |   | (0.7   | )                    |   |   | 2.1 |   |
|                         Permanent Items                                                                             |   |   | 2.9    |   |   |   |   |                 |   |   |   |     |
| D                    Difference in U.S. statutory tax rate and foreign country effective                    tax                    rate |   |   | (0.8   | )      |   |   | (1.0   | )                    |   |   | (1.                             3 |  ) |
|  T Tax                    credits                                                                                             |   |   | (8.0   | )      |   |   | (13.1  | )                    |   |   | (1.1 | ) |
|                         Tax effect of American Jobs Creation Act                    repatriation                    |   |   | --     |   |   |   | 68.3   |                 |   |   | 0.6 |   |
|  Currency                    related differences                                                                                   |   |   | 3.8    |   |   |   | 8.4    |                 |   |   | (1.1 | ) |
|  Change                    in contingency reserves                                                                                 |   |   | 6.8    |   |   |   | (29.7  | )                    |   |   | -- |   |
|  Change                    in valuation allowance                                                                                  |   |   | --     |   |   |   | --     |                 |   |   | (0.2 | ) |
|  Change                    in tax rate                                                                                             |   |   | 3.2    |   |   |   | --     |                 |   |   | -- |   |
|  Other                                                                                                                             |   |   | 3.2    |   |   |   | (3.0   | )                    |   |   | 0.3 |   |
|  Total                                                                                                                             |   |   | 48.7   | %      |   |   | (5.8   | )                  % |   |   | 34.3 | % |

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| (In                    thousands)                         |   | 2007   |    |   | 2006   |   |
|-----------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                      |   |   |    |   |   |   |
| Deferred                    tax liabilities:              |   |   |    |   |   |   |
| Property                    and equipment                 |   | $      | 256,341 |   |   | $      | 144,361 |   |
| Inventories                                               |   |   | 109,410 |   |   |   | 43,627 |   |
| Prior                    use of cash accounting           |   |   | 16,936  |   |   |   | 18,457 |   |
| Acquisition                    related items              |   |   | 14,820  |   |   |   | 15,600 |   |
| Deferred                    foreign taxes                 |   |   | 25,002  |   |   |   | 24,127 |   |
| Identified                    intangibles                 |   |   | 21,964  |   |   |   | -- |   |
| Other                                                     |   |   | 58,956  |   |   |   | 36,570 |   |
| Total                    deferred tax liabilities         |   |   | 503,429 |   |   |   | 282,742 |   |
| Deferred                    tax assets:                   |   |   |    |   |   |   |   |   |
| Foreign                    net operating losses           |   |   | 41,257  |   |   |   | 42,683 |   |
| Expenses                    deductible in different years |   |   | 143,697 |   |   |   | 71,478 |   |
| Total                    deferred tax asset               |   |   | 184,954 |   |   |   | 114,161 |   |
| Net                    deferred tax liabilities           |   | $      | 318,475 |   |   | $      | 168,581 |   |

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| ·   | the                    Pilgrim’s Pride Retirement Savings Plan (the “RS Plan”), a Section 401(k)                    Salary Deferral Plan |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the                    Pilgrim’s Pride Retirement Plan for Union Employees (the “Union Plan”), a                    defined benefit plan |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the                    To-Rico’s Employee Cash or Deferred Arrangement Profit Sharing Plan (the                    “To-Rico’s Plan”), a Section 1165(e) Salary Deferral                    Plan |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the                    legacy Gold Kist Pension Plan (the “GK Pension Plan”), a defined benefit                    plan acquired with Gold Kist, Inc. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                              |   | Pension                    Benefits |    |   | Other                    Postretirement Benefits |   |
|-------------------------------------------------------------------|--------|-------------------------------------|---------|--------|--------------------------------------------------|--------|
|                                                              |   | 2007                                |    |   | 2006                                             |   |   | 2007 |   |   | 2006 |   |
|                                                              |   | (in                    thousands)   |    |
| Change                    in benefit obligation:                  |   |                                |    |   |                                             |   |   |   |   |   |   |   |
| Benefit                    obligation at beginning of year        |   | $                                   | 9,882   |   |                                             | $      | 8,778 |   |   | $ | -- |   |   | $ | -- |   |
| Service                    cost                                   |   |                                | 2,029   |   |                                             |   | 2,242 |   |   |   | -- |   |   |   | -- |   |
| Interest                    cost                                  |   |                                | 8,455   |   |                                             |   | 458 |   |   |   | 103 |   |   |   | -- |   |
| Plan                    participant contributions                 |   |                                | 61      |   |                                             |   | 27 |   |   |   | 681 |   |   |   | -- |   |
| Actuarial                    (gains) losses                       |   |                                | (12,933 | )      |                                             |   | (1,533 | ) |   |   | (41 | ) |   |   | -- |   |
| Acquisitions                                                      |   |                                | 218,623 |   |                                             |   | -- |   |   |   | 2,689 |   |   |   | -- |   |
| Prior                    service cost (credit)                    |   |                                | 237     |   |                                             |   | -- |   |   |   | - |   |   |   | -- |   |
| Benefits                    paid                                  |   |                                | (29,551 | )      |                                             |   | (90 | ) |   |   | (1,000 | ) |   |   | -- |   |
| Benefit                    obligation at end of year              |   |                                | 196,803 |   |                                             |   | 9,882 |   |   |   | 2,432 |   |   |   | -- |   |
|                                                              |   |                                |    |   |                                             |   |   |   |   |   |   |   |   |   |   |   |
| Change                    in plan assets:                         |   |                                |    |   |                                             |   |   |   |   |   |   |   |   |   |   |   |
| Fair                    value of plan assets at beginning of year |   |                                | 6,252   |   |                                             |   | 5,405 |   |   |   | -- |   |   |   | -- |   |
| Acquisitions                                                      |   |                                | 139,229 |   |                                             |   | -- |   |   |   | -- |   |   |   | -- |   |
| Actual                    return on plan assets                   |   |                                | 11,571  |   |                                             |   | 208 |   |   |   | -- |   |   |   | -- |   |
| Contributions                    by employer                      |   |                                | 10,462  |   |                                             |   | 702 |   |   |   | 319 |   |   |   | -- |   |
| Plan                    participant contributions                 |   |                                | 61      |   |                                             |   | 27 |   |   |   | 681 |   |   |   | -- |   |
| Benefits                    paid                                  |   |                                | (29,551 | )      |                                             |   | (90 | ) |   |   | (1,000 | ) |   |   | -- |   |
| Fair                    value of plan assets at end of year       |   |                                | 138,024 |   |                                             |   | 6,252 |   |   |   | -- |   |   |   | -- |   |
| Funded                    status                                  |   |                                | (58,779 | )      |                                             |   | (3,630 | ) |   |   | (2,432 | ) |   |   | -- |   |
| Unrecognized                    prior service cost (benefit)      |   |                                | 237     |   |                                             |   | -- |   |   |   | -- |   |   |   | -- |   |
| Unrecognized                    net (gain) loss                   |   |                                | (14,824 | )      |                                             |   | (818 | ) |   |   | (41 | ) |   |   | -- |   |
| Net                    (accrued) prepaid expense                  |   | $                                   | (73,366 | )      |                                             | $      | (4,448 | ) |   | $ | (2,473 | ) |   | $ | -- |   |
| Accumulated                    other comprehensive loss           |   |                                | 14,587  |   |                                             |   | -- |   |   |   | 41 |   |   |   | -- |   |
| Net                    amount recognized                          |   | $                                   | (58,779 | )      |                                             | $      | (4,448 | ) |   | $ | (2,432 | ) |   | $ | -- |   |
|                                                              |   |                                |    |   |                                             |   |   |   |   |   |   |   |   |   |   |   |
| Projected                    benefit obligation                   |   | $                                   | 196,803 |   |                                             | $      | 9,882 |   |   | $ | 2,432 |   |   |   | -- |   |
| Accumulated                    benefit obligation                 |   |                                | 196,217 |   |                                             |   | 9,301 |   |   |   | 2,432 |   |   |   | -- |   |
| Fair                    value of plan assets                      |   |                                | 138,024 |   |                                             |   | 6,252 |   |   |   | -- |   |   |   | -- |   |
|                                                              |   |                                |    |   |                                             |   |   |   |   |   |   |   |   |   |   |   |

| Weighted-average                    assumptions used to determine benefit obligation: |
|---------------------------------------------------------------------------------------|
| Discount                    rate                                                      |   |   | 5.06 | % |   |   | 5.75 | % |   |   | 5.87 | % | NA |
| Rate                    of increase in compensation levels                            |   |   | 3.00 | % |   |   | 3.00 | % |   | NA |   | NA |

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|                                                                                  |   | Pension                    Benefits |   |   | Other                    Postretirement Benefits |   |
|---------------------------------------------------------------------------------------|--------|-------------------------------------|--------|--------|--------------------------------------------------|--------|
|                                                                                  |   | 2007                                |   |   | 2006                                             |   |   | 2007 |   |   | 2006 |   |
|                                                                                  |   | (in                    thousands)   |   |
|  Components                    of net periodic benefit cost (income):            |   |                                |   |   |                                             |   |   |   |   |   |   |   |
|  Service                    cost                                                 |   | $                                   | 2,029  |   |                                             | $      | 2,242 |   |   | $ | -- |   |   | $ | -- |   |
|  Interest                    cost                                                |   |                                | 8,455  |   |                                             |   | 458 |   |   |   | 103 |   |   |   | -- |   |
|  Estimated                    return on plan assets                              |   |                                | (8,170 | )      |                                             |   | (454 | ) |   |   | -- |   |   |   | -- |   |
|  Settlement                    (gain) loss                                       |   |                                | (2,327 | )      |                                             |   | -- |   |   |   | -- |   |   |   | -- |   |
|  Net                    periodic benefit cost (income)                           |   | $                                   | (13    | )      |                                             | $      | 2,246 |   |   |   | 103 |   |   | $ | -- |   |
|                                                                                  |   |                                |   |   |                                             |   |   |   |   |   |   |   |   |   |   |   |
|  Weighted-average                    assumptions used to determine benefit cost: |   |                                |   |   |                                             |   |   |   |   |   |   |   |   |   |   |   |
|  Discount                    rate                                                |   |                                | 5.06   | %      |                                             |   | 5.25 | % |   |   | 5.50 | % |   | NA |   |
|  Rate                    of increase in compensation levels                      |   |                                | 3.00   | %      |                                             |   | 3.00 | % |   | NA |   |   | NA |   |
|  Expected                    return on plan assets                               |   |                                | 7.75   | %      |                                             |   | 7.75 | % |   |   | 7.75 | % |   | NA |   |

| (in                    thousands)                                  |   |   |    |
|--------------------------------------------------------------------|--------|--------|---------|
|                                                               |   |   |    |
| Unrecognized                    (gain) loss at beginning of period |   | $      | (818    | ) |
| Curtailment                    and settlement adjustments          |   |   | 2,327   |   |
| Actuarial                    (gain) loss                           |   |   | (12,974 | ) |
| Asset                    (gain) loss                               |   |   | (3,400  | ) |
| Prior                    service cost (credit)                     |   |   | 237     |   |
|                                                               |   | $      | (14,628 | ) |

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|                                                        | Pension                    Benefits |
|-------------------------------------------------------------|-------------------------------------|
|                                                        | 2007                                |   | 2006 |
|                                                        | (in                    thousands)   |
|                                                        |                                |   |   |   |   |
| Fair                    value of plan assets at end of year | $                                   | 138,024 |   |   | $ | 6,252 |   |
|                                                        |                                |   |   |   |   |   |   |
| Asset                    allocation:                        |                                |   |   |   |   |   |   |
| Cash                    and money market funds              |                                | 2 | % |   |   | 0 | % |
| Equity                    securities                        |                                | 71 | % |   |   | 66 | % |
| Debt                    securities                          |                                | 27 | % |   |   | 34 | % |
| Total                    assets                             |                                | 100 | % |   |   | 100 | % |

| Expected                    Benefit Payments for fiscal year: |   |   | Pension                    Benefits |    |   | Other                    Postretirement Benefits |   |
|---------------------------------------------------------------|--------|--------|-------------------------------------|---------|--------|--------------------------------------------------|--------|
|                                                          |   |   | (in                    thousands)   |    |
|  2008                                                    |   |   | $                                   | 17,614  |   |                                             | $      | 380 |   |
|  2009                                                    |   |   |                                | 17,502  |   |                                             |   | 243 |   |
|  2010                                                    |   |   |                                | 17,010  |   |                                             |   | 205 |   |
|  2011                                                    |   |   |                                | 16,230  |   |                                             |   | 175 |   |
|  2012                                                    |   |   |                                | 15,812  |   |                                             |   | 177 |   |
|  2013-2017                                               |   |   |                                | 62,515  |   |                                             |   | 889 |   |
| Total                                                         |   |   | $                                   | 146,683 |   |                                             | $      | 2,069 |   |

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|                                                                 |   |   |   |
|----------------------------------------------------------------------|--------|--------|--------|
|                                                                 |   | 2007   |   |   | 2006 |   |   | 2005 |   |
|                                                                 |   |   |   |   | (In                    thousands) |   |   |   |   |
| Lease                    payments on commercial egg property         |   | $      | 750    |   |   | $ | 750 |   |   | $ | 750 |   |
| Contract                    grower pay                               |   |   | 885    |   |   |   | 976 |   |   |   | 682 |   |
| Other                    sales to major stockholder                  |   |   | 620    |   |   |   | 747 |   |   |   | 51,258 |   |
| Live                    chicken purchases from major stockholder     |   |   | --     |   |   |   | 231 |   |   |   | 50,070 |   |
| Loan                    guaranty fees                                |   |   | 3,592  |   |   |   | 1,615 |   |   |   | 1,775 |   |
| Lease                    payments and operating expenses on airplane |   |   | 507    |   |   |   | 492 |   |   |   | 536 |   |

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|                                                                    |   | Fiscal                    Year Ended     |      |
|-------------------------------------------------------------------------|--------|------------------------------------------|-----------|
|                                                                    |   | September                    29, 2007(a) |      |   | September                    30, 2006 |   |   | October                    1, 2005 |   |
|                                                                    |   |                                     |      |   | (In                    thousands) |   |   |   |   |
| Net                    Sales to Customers:                              |   |                                     |      |   |   |   |   |   |   |
| Chicken:                                                                |   |                                     |      |   |   |   |   |   |   |
| United                    States                                        |   | $                                        | 6,328,354 |   |   | $ | 4,098,403 |   |   | $ | 4,411,269 |   |
| Mexico                                                                  |   |                                     | 488,466   |   |   |   | 418,745 |   |   |   | 403,353 |   |
| Sub-total                                                               |   |                                     | 6,816,820 |   |   |   | 4,517,148 |   |   |   | 4,814,622 |   |
| Turkey                                                                  |   |                                     | 122,364   |   |   |   | 130,901 |   |   |   | 204,838 |   |
| Other                    Products:                                      |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   |                                     | 638,738   |   |   |   | 570,510 |   |   |   | 626,056 |   |
| Mexico                                                                  |   |                                     | 20,677    |   |   |   | 17,006 |   |   |   | 20,759 |   |
| Sub-total                                                               |   |                                     | 659,415   |   |   |   | 587,516 |   |   |   | 646,815 |   |
| Total                                                                   |   |                                     | 7,598,599 |   |   |   | 5,235,565 |   |   |   | 5,666,275 |   |
| Operating                    Income (Loss):                             |   |                                     |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   | $                                        | 192,447   |   |   | $ | 28,619 |   |   | $ | 405,662 |   |
| Mexico                                                                  |   |                                     | 13,116    |   |   |   | (17,960 | ) |   |   | 39,809 |   |
| Sub-total                                                               |   |                                     | 205,563   |   |   |   | 10,659 |   |   |   | 445,471 |   |
| Turkey                                                                  |   |                                     | (4,655    | ) |   |   | (15,511 | ) |   |   | (22,539 | ) |
| Other                    Products:                                      |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   |                                     | 28,637    |   |   |   | 6,216 |   |   |   | 8,250 |   |
| Mexico                                                                  |   |                                     | 2,992     |   |   |   | 1,638 |   |   |   | 4,630 |   |
| Sub-total                                                               |   |                                     | 31,629    |   |   |   | 7,854 |   |   |   | 12,880 |   |
| Total                                                                   |   | $                                        | 232,537   |   |   | $ | 3,002 |   |   | $ | 435,812 |   |
| Depreciation                    and                    Amortization:(b) |   |                                     |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   | $                                        | 183,808   |   |   | $ | 109,346 |   |   | $ | 114,131 |   |
| Mexico                                                                  |   |                                     | 11,015    |   |   |   | 11,305 |   |   |   | 12,085 |   |
| Sub-total                                                               |   |                                     | 194,823   |   |   |   | 120,651 |   |   |   | 126,216 |   |
| Turkey                                                                  |   |                                     | 1,587     |   |   |   | 6,593 |   |   |   | 3,343 |   |
| Other                    Products:                                      |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   |                                     | 8,278     |   |   |   | 7,743 |   |   |   | 5,196 |   |
| Mexico                                                                  |   |                                     | 215       |   |   |   | 146 |   |   |   | 189 |   |
| Sub-total                                                               |   |                                     | 8,493     |   |   |   | 7,889 |   |   |   | 5,385 |   |
| Total                                                                   |   | $                                        | 204,903   |   |   | $ | 135,133 |   |   | $ | 134,944 |   |
| Total                    Assets:                                        |   |                                     |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   | $                                        | 3,247,812 |   |   | $ | 1,897,763 |   |   | $ | 2,059,579 |   |
| Mexico                                                                  |   |                                     | 348,894   |   |   |   | 361,887 |   |   |   | 287,414 |   |
| Sub-total                                                               |   |                                     | 3,596,706 |   |   |   | 2,259,650 |   |   |   | 2,346,993 |   |
| Turkey                                                                  |   |                                     | 69,653    |   |   |   | 76,908 |   |   |   | 77,319 |   |
| Other                    Products:                                      |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   |                                     | 103,757   |   |   |   | 88,650 |   |   |   | 85,581 |   |
| Mexico                                                                  |   |                                     | 4,120     |   |   |   | 1,660 |   |   |   | 2,010 |   |
| Sub-total                                                               |   |                                     | 107,877   |   |   |   | 90,310 |   |   |   | 87,591 |   |
| Total                                                                   |   | $                                        | 3,774,236 |   |   | $ | 2,426,868 |   |   | $ | 2,511,903 |   |
| C                    Capital Expenditures (excluding acquisition):      |   |                                     |      |   |   |   |   |   |   |   |   |   |
| Chicken:                                                                |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   | $                                        | 164,449   |   |   | $ | 133,106 |   |   | $ | 102,470 |   |
| Mexico                                                                  |   |                                     | 1,633     |   |   |   | 6,536 |   |   |   | 4,924 |   |
| Sub-total                                                               |   |                                     | 166,082   |   |   |   | 139,642 |   |   |   | 107,394 |   |
| Turkey                                                                  |   |                                     | 502       |   |   |   | 257 |   |   |   | 3,604 |   |
| Other                    Products:                                      |   |                                     |      |   |   |   |   |   |   |   |   |   |
| United                    States                                        |   |                                     | 5,699     |   |   |   | 3,567 |   |   |   | 5,448 |   |
| Mexico                                                                  |   |                                     | 40        |   |   |   | 416 |   |   |   | 142 |   |
| Sub-total                                                               |   |                                     | 5,739     |   |   |   | 3,983 |   |   |   | 5,590 |   |
| Total                                                                   |   | $                                        | 172,323   |   |   | $ | 143,882 |   |   | $ | 116,588 |   |

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| (a)    | The                      Company acquired Gold Kist on December 27, 2006 for $1.139                      billion.  For financial reporting purposes, we have not included                      the operating results and cash flows of Gold Kist in our consolidated                      financial statements for the period from December 27, 2006                      through December 30, 2006.  The operating results and                      cash flows of Gold Kist from December 27, 2006 through December                      30, 2006                      were not material. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| (b)    | Includes                    amortization of capitalized financing costs of approximately                    $6.6 million,                    $2.3 million, and $2.0 million in fiscal 2007, 2006 and 2005,                    respectively, and amortization of intangible assets of approximately                    $6.3                    million in fiscal 2007.                                                                                                                                                                                                                                                         |

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| (In                    thousands, except per share data) |   | Fiscal                    Year Ended September 29, 2007 |      |
|----------------------------------------------------------|--------|---------------------------------------------------------|-----------|
|                                                     |   | First                                                   |      |   | Second |   |   | Third |   |   | Fourth |   |   | Fiscal |   |
|                                                     |   | Quarter                                                 |      |   | Quarter                    (b) |   |   | Quarter(b) |   |   | Quarter(b) |   |   | Year |   |
|                                                     |   |                                                    |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    sales                             |   | $                                                       | 1,337,132 |   |   | $ | 1,993,965 |   |   | $ | 2,118,386 |   |   | $ | 2,149,116 |   |   | $ | 7,598,599 |   |
| Gross                    profit                          |   |                                                    | 65,526    |   |   |   | 83,942 |   |   |   | 235,239 |   |   |   | 206,831 |   |   |   | 591,538 |   |
| Operating                    income (loss)               |   |                                                    | (2.906    | ) |   |   | (11,699 | ) |   |   | 136,777 |   |   |   | 110,365 |   |   |   | 232,537 |   |
| Net                    income (loss)                     |   |                                                    | (8,736    | ) |   |   | (40,077 | ) |   |   | 62,641 |   |   |   | 33,189 |   |   |   | 47,017 |   |
| Per                    Share:                            |   |                                                    |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    income (loss)                     |   |                                                    | (0.13     | ) |   |   | (0.60 | ) |   |   | 0.94 |   |   |   | 0.50 |   |   |   | 0.71 |   |
| Cash                    dividends                        |   |                                                    | 0.0225    |   |   |   | 0.0225 |   |   |   | 0.0225 |   |   |   | 0.0225 |   |   |   | 0.090 |   |

| (In                    thousands, except per share data) |   | Fiscal                    Year Ended September 30, 2006 |      |
|----------------------------------------------------------|--------|---------------------------------------------------------|-----------|
|                                                     |   | First                                                   |      |   | Second |   |   | Third |   |   | Fourth |   |   | Fiscal |   |
|                                                     |   | Quarter                                                 |      |   | Quarter |   |   | Quarter |   |   | Quarter(a) |   |   | Year |   |
|                                                     |   |                                                    |      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    sales                             |   | $                                                       | 1,343,812 |   |   | $ | 1,265,709 |   |   | $ | 1,287,646 |   |   | $ | 1,338,398 |   |   | $ | 5,235,565 |   |
| Gross                    profit                          |   |                                                    | 118,400   |   |   |   | 37,201 |   |   |   | 42,696 |   |   |   | 99,303 |   |   |   | 297,600 |   |
| Operating                    income  (loss)    |   |                                                    | 46,198    |   |   |   | (37,936 | ) |   |   | (26,737 | ) |   |   | 21,477 |   |   |   | 3,002 |   |
| Net                    income (loss)                     |   |                                                    | 25,678    |   |   |   | (31,954 | ) |   |   | (20,473 | ) |   |   | (7,483 | ) |   |   | (34,232 | ) |
| Per                    Share:                            |   |                                                    |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    income (loss)                     |   |                                                    | 0.39      |   |   |   | (0.48 | ) |   |   | (0.31 | ) |   |   | (0.11 | ) |   |   | (0.51 | ) |
| Cash                    dividends                        |   |                                                    | 1.0225    |   |   |   | 0.0225 |   |   |   | 0.0225 |   |   |   | 0.0225 |   |   |   | 1.090 |   |
|                                                     |   |

| (a)    | Included                    in gross profit in the fourth quarter of fiscal 2006 are charges                    for                    accounting adjustments of $6.4 million, pretax, related to certain                    benefit                    plans.  Included in net income in the fourth quarter of fiscal                    2006 is a $25.8 million tax provision for the American Jobs Creation                    Act                    of 2004 and a $10.6 million tax benefit for a change in estimate                    of                    contingency reserves as described in Note A and Note F. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| (b)    | The                      Company acquired Gold Kist on December 27, 2006 for $1.139                      billion.  For financial reporting purposes, we have not included                      the operating results and cash flows of Gold Kist in our consolidated                      financial statements for the period from December 27, 2006                      through December 30, 2006.  The operating results and                      cash flows of Gold Kist from December 27, 2006 through December                      30, 2006                      were not material.        |

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| PILGRIM'S                    PRIDE CORPORATION                                                                                                         |                          |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------|
|                                                                                                                                                   |                          |
| SCHEDULE                    II-VALUATION AND QUALIFYING                    ACCOUNTS                                                                    |                          |
|                                                                                                                                                   |                          |
| Col.                    A                                                                                                                              | Col.                    B     |   | Col.                    C |   | Col.                    D |   | Col.                    E |   |
|                                                                                                                                                   |                          |   | ADDITIONS |   |   |   |   |   |
|                                                                                                                                                   |                          |   |   |   | Charged                    to |   |   |   |   |   |
|                                                                                                                                                   | Balance                    at |   | Charged                    to |   | Other |   |   |   | Balance                    at |   |
| DESCRIPTION                                                                                                                                            | Beginning                     |   | Costs |   | Accounts- |   | Deductions |   | end |   |
|                                                                                                                                                   | of                    Period  |   | and                    Expenses |   | Describe(a) |   | Describe(b) |   | of                    Period |   |
|                                                                                                                                                   |                          |   |   |   |   |   |   |   |   |   |
| Year                    ended September 29, 2007:                                                                                                      |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reserves                    and allowances deducted                                                                                                    |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| from                    asset accounts:                                                                                                                |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance                    for doubtful accounts                                                                                                     |                          | $ | 2,084,409 |   |   | $ | 4,768,272 |   |   | $ | 1,324,131 |   |   | $ | 2,313,018 |   |   | $ | 5,863,794 |   |
|                                                                                                                                                   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Year                    ended September 30, 2006:                                                                                                      |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reserves                    and allowances deducted                                                                                                    |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| from                    asset accounts:                                                                                                                |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance                    for doubtful accounts                                                                                                     |                          | $ | 4,663,155 |   |   | $ | (100,676 | ) |   | $ | -- |   |   | $ | 2,478,070 |   |   | $ | 2,084,409 |   |
|                                                                                                                                                   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Year                    ended October 1, 2005:                                                                                                         |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reserves                    and allowances deducted                                                                                                    |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| from                    asset accounts:                                                                                                                |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Allowance                    for doubtful accounts                                                                                                     |                          | $ | 4,244,644 |   |   | $ | 767,923 |   |   | $ | -- |   |   | $ | 349,412 |   |   | $ | 4,663,155 |   |
|                                                                                                                                                   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                   |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balance                    of allowance for doubtful accounts established for accounts receivable                    acquired from Gold Kist. |                          |
| (b) Uncollectible                    accounts written off, net of recoveries.                                                                     |                          |

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|   2.1 |   | Agreement                    and Plan of Reorganization dated September 15, 1986, by and among                    Pilgrim’s Pride Corporation, a Texas corporation; Pilgrim’s Pride                    Corporation, a Delaware corporation; and Doris Pilgrim Julian,                    Aubrey Hal                    Pilgrim, Paulette Pilgrim Rolston, Evanne Pilgrim, Lonnie “Bo” Pilgrim,                    Lonnie Ken Pilgrim, Greta Pilgrim Owens and Patrick Wayne Pilgrim                    (incorporated by reference from Exhibit 2.1 to the Company’s Registration                    Statement on Form S-1 (No. 33-8805) effective November 14,                    1986). |
|-----------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   2.2 |   | Agreement                    and Plan of Merger dated September 27, 2000 (incorporated by                    reference                    from Exhibit 2 of WLR Foods, Inc.’s Current Report on Form 8-K (No.                    000-17060) dated September 28, 2000).                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   2.3 |   | Agreement                    and Plan of Merger dated as of December 3, 2006, by and among                    the Company,                    Protein Acquisition Corporation, a wholly-owned subsidiary of                    the Company,                    and Gold Kist Inc. (incorporated by reference from Exhibit 99.(D)(1)                    to                    Amendment No. 11 to the Company’s Tender Offer Statement on Schedule TO                    filed on December 5, 2006).                                                                                                                                                                                                              |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   3.1 |   | Certificate                    of Incorporation of the Company, as amended (incorporated by                    reference                    from Exhibit 3.1 of the Company’s Annual Report on Form 10-K for the                    fiscal year ended October 2, 2004).                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   3.2 |   | Amended                    and Restated Corporate Bylaws of the Company (incorporated by                    reference                    from Exhibit 4.4 of the Company’s Registration Statement on Form S-8 (No.                    333-111929) filed on January 15, 2004).                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.1 |   | C Certificate                    of Incorporation of the Company, as amended (included as Exhibit                    3.1).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.2 |   | Amended                    and Restated Corporate Bylaws of the Company (included as Exhibit                    3.2).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.3 |   | Indenture,                    dated November 21, 2003, between Pilgrim's Pride Corporation                    and The Bank                    of New York as Trustee relating to Pilgrim’s Pride’s 9 ¼% Senior Notes due                    2013 (incorporated by reference from Exhibit 4.1 of the Company's                    Registration Statement on Form S-4 (No. 333-111975) filed on                    January 16,                    2004).                                                                                                                                                                                                                                                |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.4 |   | Form                    of 9 ¼% Note due 2013 (incorporated by reference from Exhibit 4.3 of                    the                    Company's Registration Statement on Form S-4 (No. 333-111975)                    filed on                    January 16, 2004).                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.5 |   | Senior                    Debt Securities Indenture dated as of January 24, 2007, by and                    between the                    Company and Wells Fargo Bank, National Association, as trustee                    (incorporated by reference from Exhibit 4.1 to the Company’s Current                    Report on Form 8-K filed on January 24, 2007).                                                                                                                                                                                                                                                                                                                                              |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.6 |   | First                    Supplemental Indenture to the Senior Debt Securities Indenture                    dated as of                    January 24, 2007, by and between the Company and Wells Fargo                    Bank,                    National Association, as trustee (incorporated by reference from                    Exhibit                    4.2 to the Company’s Current Report on Form 8-K filed on January 24,                    2007).                                                                                                                                                                                                                                                 |
|            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   4.7 |   | Form                    of 7 5/8% Senior Note due 2015 (incorporated by reference from                    Exhibit 4.3                    to the Company’s Current Report on Form 8-K filed on January 24,                    2007).                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

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|   4.8  |   | Senior                    Subordinated Debt Securities Indenture dated as of January 24,                    2007, by                    and between the Company and Wells Fargo Bank, National Association,                    as                    trustee (incorporated by reference from Exhibit 4.4 to the Company’s                    Current Report on Form 8-K filed on January 24, 2007).                                                               |
|------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   4.9  |   | First                    Supplemental Indenture to the Senior Subordinated Debt Securities                    Indenture dated as of January 24, 2007, by and between the Company                    and                    Wells Fargo Bank, National Association, as trustee (incorporated                    by                    reference from Exhibit 4.5 to the Company’s Current Report on Form 8-K                    filed on January 24, 2007).        |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   4.10 |   | Form                    of 8 3/8% Subordinated Note due 2017 (incorporated by reference                    from                    Exhibit 4.6 to the Company’s Current Report on Form 8-K filed on January                    24, 2007).                                                                                                                                                                                                                         |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1             |   | Pilgrim’s                    Industries, Inc. Profit Sharing Retirement Plan, restated as                    of July 1,                    1987 (incorporated by reference from Exhibit 10.1 of the Company’s Form                    8-K filed on July 1, 1992). …                                                                                                                                                                                   |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.2             |   | Senior                    Executive Performance Bonus Plan of the Company (incorporated                    by reference                    from Exhibit A in the Company’s Proxy Statement dated December 13, 1999).                    …                                                                                                                                                                                                                   |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.3             |   | Aircraft                    Lease Extension Agreement between B.P. Leasing Co. (L.A. Pilgrim,                    individually) and Pilgrim’s Pride Corporation (formerly Pilgrim’s                    Industries, Inc.) effective November 15, 1992 (incorporated by                    reference                    from Exhibit 10.48 of the Company’s Quarterly Report on Form 10-Q for the                    three months ended March 29, 1997). |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.4             |   | Broiler                    Grower Contract dated May 6, 1997 between Pilgrim’s Pride Corporation and                    Lonnie “Bo” Pilgrim (Farm 30) (incorporated by reference from Exhibit                    10.49 of the Company’s Quarterly Report on Form 10-Q for the three months                    ended March 29, 1997).                                                                                                            |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.5             |   | Commercial                    Egg Grower Contract dated May 7, 1997 between Pilgrim’s Pride Corporation                    and Pilgrim Poultry G.P. (incorporated by reference from Exhibit                    10.50 of                    the Company’s Quarterly Report on Form 10-Q for the three months ended                    March 29, 1997).                                                                                                       |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.6             |   | Agreement                    dated October 15, 1996 between Pilgrim’s Pride Corporation and Pilgrim                    Poultry G.P. (incorporated by reference from Exhibit 10.23 of                    the                    Company’s Quarterly Report on Form 10-Q for the three months ended                    January 2, 1999).                                                                                                            |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.7             |   | Heavy                    Breeder Contract dated May 7, 1997 between Pilgrim’s Pride Corporation and                    Lonnie “Bo” Pilgrim (Farms 44, 45 & 46) (incorporated by reference                    from Exhibit 10.51 of the Company’s Quarterly Report on Form 10-Q for the                    three months ended March 29, 1997).                                                                                               |
|             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.8             |   | Broiler                    Grower Contract dated January 9, 1997 by and between Pilgrim’s Pride and                    O.B. Goolsby, Jr. (incorporated by reference from Exhibit 10.25                    of the                    Company’s Registration Statement on Form S-1 (No. 333-29163) effective                    June 27, 1997).                                                                                                     |

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Table                of Contents

| 10.9   |   | Broiler                    Grower Contract dated January 15, 1997 by and between Pilgrim’s Pride                    Corporation and B.J.M. Farms (incorporated by reference from                    Exhibit 10.26                    of the Company’s Registration Statement on Form S-1 (No. 333-29163)                    effective June 27, 1997).                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.10  |   | Broiler                    Grower Agreement dated January 29, 1997 by and between Pilgrim’s Pride                    Corporation and Clifford E. Butler (incorporated by reference                    from Exhibit                    10.27 of the Company’s Registration Statement on Form S-1 (No. 333-29163)                    effective June 27, 1997).                                                                                                                                                                                                                                                                                                                                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.11  |   | Receivables                    Purchase Agreement dated June 26, 1998 between Pilgrim’s Pride Funding                    Corporation, as Seller, Pilgrim’s Pride Corporation, as Servicer, Pooled                    Accounts Receivable Capital Corporation, as Purchaser, and Nesbitt                    Burns                    Securities Inc., as Agent (incorporated by reference from Exhibit                    10.33 of                    the Company’s Quarterly Report on Form 10-Q for the three months ended                    June 27, 1998).                                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.12  |   | Purchase                    and Contribution Agreement dated as of June 26, 1998 between                    Pilgrim’s                    Pride Funding Corporation and Pilgrim’s Pride Corporation (incorporated by                    reference from Exhibit 10.34 of the Company’s Quarterly Report on Form                    10-Q for the three months ended June 27, 1998).                                                                                                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.13  |   | Guaranty                    Fee Agreement between Pilgrim’s Pride Corporation and Pilgrim Interests,                    Ltd., dated June 11, 1999 (incorporated by reference from Exhibit                    10.24 of                    the Company’s Annual Report on Form 10-K for the fiscal year ended October                    2, 1999).                                                                                                                                                                                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.14  |   | Broiler                    Production Agreement between Pilgrim's Pride Corporation and                    Lonnie “Bo”                    Pilgrim dated November 15, 2005 (incorporated by reference from                    Exhibit                    99.1 of the Company’s Current Report on Form 8-K dated November 10,                    2005).                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.15  |   | Commercial                    Property Lease dated December 29, 2000 between Pilgrim’s Pride Corporation                    and Pilgrim Poultry G.P. (incorporated by reference from Exhibit                    10.30 of                    the Company’s Quarterly Report on Form 10-Q for the three months ended                    December 30, 2000).                                                                                                                                                                                                                                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.16  |   | Amendment                    No. 1 dated as of July 12, 2002 to Receivables Purchase Agreement                    dated as                    of June 26, 1998 among Pilgrim’s Pride Funding Corporation, the Company,                    Fairway Finance Corporation (as successor in interest to Pooled                    Accounts                    Receivable Capital Corporation) and BMO Nesbitt Burns Corp. (f/k/a                    Nesbitt                    Burns Securities Inc.) (incorporated by reference from Exhibit                    10.32 of                    the Company’s Annual Report on Form 10-K filed on December 6,                    2002).                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 10.17  |   | Amendment                    No. 3 dated as of July 18, 2003 to Receivables Purchase Agreement                    dated as                    of June 26, 1998 between Pilgrim’s Pride Funding Corporation (“Seller”),                    Pilgrim’s Pride Corporation as initial Servicer, Fairway Finance                    Corporation (as successor in interest to Pooled Accounts Receivable                    Capital Corporation) (“Purchaser”) and Harris Nesbitt Corporation as agent                    for the purchaser (incorporated by reference from Exhibit 10.1                    of the                    Company’s Quarterly Report on Form 10-Q filed July 23,                    2003). |

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| 10.18  |   | Agricultural                    Lease between Pilgrim’s Pride Corporation (Lessor) and Patrick W. Pilgrim                    (Tenant) dated May 1, 2003 (incorporated by reference from Exhibit                    10.15                    of the Company’s Quarterly Report on Form 10-Q filed July 23,                    2003).                                                                                                                                                                                                                                                                                                                                                                          |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.19  |   | Amendment                    No. 4 dated as of December 31, 2003 to Receivables Purchase Agreement                    dated as of June 26, 1998, among Pilgrim's Pride Funding Corporation,                    Pilgrim's Pride Corporation as initial Servicer, Fairway Finance                    Company,                    LLC (as successor to Fairway Finance Corporation) as purchaser                    and Harris                    Nesbitt Corp. (f/k/a BMO Nesbitt Burns Corp.) as agent for the                    purchaser                    (incorporated by reference from Exhibit 10.4 of the Company's                    Quarterly                    Report on Form 10-Q filed February 4, 2004). |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.20  |   | Amendment                    No. 1 dated as of December 31, 2003 to Purchase and Contribution                    Agreement                    dated as of June 26, 1998, between Pilgrim's Pride Funding Corporation                    and                    Pilgrim's Pride Corporation (incorporated by reference from Exhibit                    10.5                    of the Company's Quarterly Report on Form 10-Q filed February                    4,                    2004).                                                                                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.21  |   | Employee                    Stock Investment Plan of the Company (incorporated by reference                    from                    Exhibit 4.1 of the Company's Registration Statement on Form S-8                    (No.                    333-111929) filed on January 15, 2004). …                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.22  |   | Purchase                    and Amendment Agreement between Pilgrim's Pride Corporation and                    ConAgra                    Foods, Inc. dated August 3, 2005 (incorporated by reference from                    Exhibit                    10.1 of the Company’s Current Report on Form 8-K dated August 4,                    2005).                                                                                                                                                                                                                                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.23  |   | Amended                    and Restated 2005 Deferred Compensation Plan of the Company (incorporated                    by reference from Exhibit 10.1 of the Company’s Current Report on Form 8-K                    dated December 30, 2005). …                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.24  |   | Vendor                    Service Agreement dated effective December 28, 2005 between Pilgrim's                    Pride Corporation and Pat Pilgrim (incorporated by reference                    from Exhibit                    10.2 of the Company's Current Report on Form 8-K dated January                    6,                    2006).                                                                                                                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.25  |   | Transportation                    Agreement dated effective December 28, 2005 between Pilgrim's                    Pride                    Corporation and Pat Pilgrim (incorporated by reference from Exhibit                    10.3                    of the Company's Current Report on Form 8-K dated January 6,                    2006).                                                                                                                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.26  |   | Ground                    Lease Agreement dated effective January 4, 2006 between Pilgrim's                    Pride                    Corporation and Pat Pilgrim (incorporated by reference from Exhibit                    10.4                    of the Company's Current Report on Form 8-K dated January 6,                    2006).                                                                                                                                                                                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.27  |   | Credit                    Agreement by and among the Avícola Pilgrim’s Pride de México, S. de R.L.                    de C.V. (the "Borrower"), Pilgrim's Pride Corporation, certain                    Mexico                    subsidiaries of the Borrower, ING Capital LLC, and the lenders                    signatory                    thereto dated as of September 25, 2006 (incorporated by reference                    from                    Exhibit 10.1 of the Company's Current Report on Form 8-K filed                    on                    September 28, 2006).                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 10.28  |   | 2006                    Amended and Restated Credit Agreement by and among CoBank, ACB,                    Agriland,                    FCS and the Company dated as of September 21, 2006 (incorporated                    by                    reference from Exhibit 10.2 of the Company's Current Report on                    Form 8-K                    filed on September 28, 2006).                                                                                                                                                                                                                                                                                                                            |

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| 10.29  |   | First                    Amendment to the Pilgrim’s Pride Corporation Amended and Restated 2005                    Deferred Compensation Plan Trust, dated as of November 29, 2006                    (incorporated by reference from Exhibit 10.03 of the Company’s Current                    Report on Form 8-K filed on December 05, 2006). …                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.30  |   | Agreement                    and Plan of Merger dated as of December 3, 2006, by and among                    the Company,                    the Purchaser and Gold Kist Inc. (incorporated by reference from                    Exhibit                    99.(D)(1) to Amendment No. 11 to the Company’s Tender Offer Statement on                    Schedule TO filed on December 5, 2006).                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.31  |   | First                    Amendment to Credit Agreement, dated as of December 13, 2006,                    by and among                    the Company, as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as a                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.01 to the Company’s Current                    Report on Form 8-K filed on December 19, 2006).                                                                      |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.32  |   | Second                    Amendment to Credit Agreement, dated as of January 4, 2007, by                    and among                    the Company, as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as a                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.01 to the Company’s Current                    Report on Form 8-K filed on January 9, 2007).                                                                         |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.33  |   | Fourth                    Amended and Restated Secured Credit Agreement, dated as of February                    8,                    2007, by and among the Company, To-Ricos, Ltd., To-Ricos Distribution,                    Ltd., Bank of Montreal, as agent, SunTrust Bank as syndication                    agent, U.S.                    Bank National Association and Wells Fargo Bank, National Association                    as                    Co-Documentation Agents, BMO Capital Market as lead arranger,                    and the                    other lenders signatory thereto (incorporated by reference from                    Exhibit                    10.01 of the Company’s Current Report on Form 8-K dated February 12,                    2007). |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.34  |   | Third                    Amendment to Credit Agreement, dated as of February 7, 2007,                    by and among                    the Company as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and the sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as a                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.02 of the Company’s Current                    Report on Form 8-K dated February 12, 2007).                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.35  |   | First                    Amendment to Credit Agreement, dated as of March 15, 2007, by                    and among                    the Borrower, the Company, the Subsidiary Guarantors, ING Capital                    LLC, and                    the Lenders (incorporated by reference from Exhibit 10.01 of                    the Company’s                    Current Report on Form 8-K dated March 20, 2007).                                                                                                                                                                                                                                                                                                                                                               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 10.36  |   | Fourth                    Amendment to Credit Agreement, dated as of July 3, 2007, by and                    among the                    Company as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and the sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as                    syndication party, and the other syndication parties signatory                    thereto                    (incorporated by reference from Exhibit 10.1 of the Company's                    Quarterly                    Report on Form 10-Q filed July 31,                    2007).                                              |

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| 10.37  |   | Amendment                    No. 5 to Receivables Purchase Agreement dated as of August 20,                    2007, among                    the Company, Pilgrim's Pride Funding Corporation, Fairway Finance                    Company,                    LLC and BMO Capital Markets Corp. (incorporated by reference                    from Exhibit                    10.01 of the Company’s Current Report on Form 8-K dated August 24,                    2007).                                                                      |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.38  |   | Retirement                    and Consulting Agreement dated as of October 10, 2007, between                    the Company                    and Clifford E. Butler (incorporated by reference from Exhibit                    10.1 of the                    Company’s Current Report on Form 8-K dated October 10, 2007). …                                                                                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.39  |   | Fifth                    Amendment to Credit Agreement, dated as of August 7, 2007, by                    and among                    the Company as borrower, CoBank, ACB, as lead arranger and co-syndication                    agent, and the sole book runner, and as administrative, documentation                    and                    collateral agent, Agriland, FCS, as co-syndication agent, and                    as                    syndication party, and the other syndication parties signatory                    thereto.* |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.40  |   | Sixth                    Amendment to Credit Agreement, dated as of November 7, 2007,                    by and among                    the Company as borrower, CoBank, ACB, as administrative agent,                    and the                    other syndication parties signatory thereto (incorporated by                    reference                    from Exhibit 10.1 of the Company’s Current Report on Form 8-K dated                    November 13, 2007).                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 12     |   | Ratio                    of Earnings to Fixed Charges for the years ended September 29,                    2007,                    September 30, 2006, October 1, 2005, October 2, 2004, September                    27, 2003,                    and September 28, 2002.*                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 21     |   | S  Subsidiaries                    of Registrant.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 23     |   |     Consent                    of Ernst & Young LLP.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 31.1   |   | Certification                    of Co-Principal Executive Officer pursuant to Section 302 of                    the                    Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 31.2   |   | Certification                    of Co-Principal Executive Officer pursuant to Section 302 of                    the                    Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 31.3   |   | Certification                    of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley                    Act of 2002.*                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 32.1   |   | Certification                    of Co-Principal Executive Officer of Pilgrim's Pride Corporation                    pursuant                    to Section 906 of the Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 32.2   |   | Certification                    of Co-Principal Executive Officer of Pilgrim's Pride Corporation                    pursuant                    to Section 906 of the Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                                                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 32.3   |   | Certification                    of Chief Financial Officer of Pilgrim's Pride Corporation pursuant                    to                    Section 906 of the Sarbanes-Oxley Act of                    2002.*                                                                                                                                                                                                                                                                                                                                        |

|   |  *Filed                    herewith |
|--------|------------------------------------------|

|   |  …Represents                    a management contract or compensation plan                    arrangement |
|--------|----------------------------------------------------------------------------------------------------------------------|

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