Seaboard Corp. engages in the provision of agribusiness and transportation businesses. It operates through the following segments: Pork; Commodity Trading and Milling; Marine; Sugar; Power; and Turkey. The Pork segment produces and sells fresh and frozen pork products to further processors, food service operators, grocery stores, distributors, and retail outlets throughout the United States, Japan, Mexico, and other foreign markets. The Commodity Trading and Milling segment focuses on integrated agricultural commodity trading and processing, and logistics operation that internationally markets wheat, corn, soybean meal, and other agricultural commodities in bulk to third-party customers, and to non-consolidated affiliates. The Marine segment provides covers cargo shipping services between the United States, the Caribbean Basin and Central, and South America. The Sugar segment refers to the production and processing of sugar and alcohol in Argentina, primarily to be sold locally. The Power segment pertains to unregulated independent power producer in the Dominican Republic operating a floating power generating facility. The turkey segment involves the production and sale of branded and non-branded turkeys and other products. The company was founded by Otto Bresky in 1918 and is headquartered in Merriam, KS.
Net sales for the three and six month periods of 2019 increased $131 million and $95 million, respectively, compared to the same periods in 2018. The increase for the three month period was primarily the result of higher volumes for certain commodities in the CT&M segment and higher prices of pork products sold in the Pork segment, partially offset by lower biodiesel revenue in the Pork segment and lower selling prices and volumes in the Sugar and Alcohol segment. The increase for the six month period was primarily the result of higher volumes for certain commodities in the CT&M segment and higher prices of pork products sold and higher sales volume of market hogs in the Pork segment, partially offset by lower biodiesel prices and not receiving the federal blender’s credits in the first quarter of 2019 as compared to 2018 in the Pork segment and lower revenue in the Sugar and Alcohol segment.