Tyson Foods
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Tyson Foods Inc. is an American company that produces a range of different foods, including beef, pork and chicken.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended September 28, 1996

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from ________________ to ________________

Commission File No. 0-3400

TYSON FOODS, INC.
(Exact Name of Registrant as specified in its Charter)

Delaware 71-0225165
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)

2210 West Oaklawn Drive, Springdale, Arkansas 72762-6999
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (501) 290-4000

Securities registered pursuant to Section 12(b) of the Act:
Not Applicable

Securities registered pursuant to Section 12(g) of the Act:
Class A Common Stock, Par Value $.10
(Title of Class)


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

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

On September 28, 1996, the aggregate market value of the Class A
Common and Class B Common voting stock held by non-affiliates of the
registrant was $1,884,943,737 and $1,287,954 respectively.

On September 28, 1996, there were outstanding 76,505,849 shares of the
registrants Class A Common Stock, $.10 par value, and 68,446,742 shares of
its Class B Common Stock, $.10 par value.


Page 1 of 88 Pages
The Exhibit Index appears on pages 19 through 24
DOCUMENTS INCORPORATED BY REFERENCE

The following documents or the indicated portions thereof are incorporated
herein by reference into the indicated portions of the Form 10-K: (i) pages
26-48 of registrant's Annual Report to Shareholders for fiscal year ended
September 28, 1996 (the "Annual Report") which are filed as Exhibit 13 to
this Form 10-K and (ii) the registrant's definitive Proxy Statement for the
registrant's Annual Meeting of Shareholders to be held January 10, 1997
(the "Proxy Statement").

PART I

Item 1. Business


Pages 29, 30, 33 and 35 of registrant's Annual Report under the
caption "Management's Discussion and Analysis."


PART II


Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters

Pages 37 and 48 of the Annual Report under the caption
"Capital Stock" and "Price of Company's Common Stock."


Item 6. Selected Financial Data

Pages 26-27 of the Annual Report under the caption "Eleven-Year
Financial Summary."


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

Pages 29, 30, 33 and 35 of the Annual Report under the caption
"Management's Discussion and Analysis."

Item 8. Financial Statements and Supplementary Data

Pages 28, 31, 32, 34, 36-44 and 46 of the Annual Report under the
captions "Consolidated Statements of Operations," "Consolidated
Statements of Shareholders' Equity," "Consolidated Balance Sheets,"
"Consolidated Statements of Cash Flows," "Notes to Consolidated
Financial Statements," and "Report of Independent Auditors."










2
Part III

Item 10. Directors and Executive Officers of the Registrant

The information set forth under the caption "Election of
Directors" and "Compliance with Section 16(a) of the Securities
Exchange Act of 1934" in the Proxy Statement.


Item 11. Executive Compensation

The information set forth under the caption "Executive
Compensation and Other Information" in the Proxy Statement.


Item 12. Security Ownership of Certain Beneficial Owners and
Management

The information set forth under the captions "Principal
Shareholders" and "Security Ownership of Management" in the
Proxy Statement.


Item 13. Certain Relationships and Related Transactions

The information set forth under the caption "Certain
Transactions" in the Proxy Statement.































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PART I
ITEM 1. BUSINESS

General

Tyson Foods, Inc. and its various subsidiaries (collectively, the
"Company") produce, market and distribute a variety of food products
consisting of value-enhanced poultry; fresh and frozen poultry; value-
enhanced seafood products; fresh and frozen seafood products and Mexican
Original products such as flour and corn tortillas and chips. Additionally,
the Company has live swine, animal feed and pet food operations. The
Company's integrated operations consist of breeding and rearing chickens,
harvesting seafood, as well as the processing, further-processing and
marketing of these food products. The Company's products are marketed and
sold to national and regional grocery chains, regional grocery wholesalers,
clubs and warehouse stores, military commissaries, industrial food
processing companies, national and regional chain restaurants or their
distributors, international export companies and domestic distributors who
service restaurants, foodservice operations such as plant and school
cafeterias, convenience stores, hospitals and other vendors. Sales are made
by the Company's sales staffs located in Springdale, Arkansas, in regions
throughout the United States and in several foreign countries.
Additionally, sales to the military and a portion of sales to international
markets are made through independent brokers and trading companies. The
Company conducts the major portion of its business activities on a
vertically integrated basis and considers its business to be one industry
segment, that of "food products." The Company commenced business in 1935,
was incorporated in Arkansas in 1947, and was reincorporated in Delaware in
1986.

Description

Originally, the Company was a producer and distributor of fresh
chicken. The Company developed a strategy to reduce the impact of the
commodity market of the fresh chicken business through value-enhancement.
As the industry leader in value-enhanced poultry products, the Company
utilizes national and regional advertising, special promotions and brand
identification, and meets the varying demands of its customers through
capital expenditures and strategic acquisitions. With further-processed
poultry products, grain costs as a percentage of total product costs are
reduced because of the value added to the products by cutting, deboning,
cooking, packaging or freezing the poultry.

The Company's integrated poultry processes include genetic research,
breeding, hatching, rearing, ingredient procurement, feed milling,
veterinary and other technical services, and related transportation and
delivery services. The Company contracts with independent growers to
maintain the Company's flocks of breeder chicks which, when grown, lay the
eggs which the Company transfers to its hatcheries and hatch into broiler
chicks. Newly hatched broiler chicks are vaccinated and are then delivered
to independent contract growers who care for and feed the broiler chicks
until they reach processing weight, usually from the end of the fourth to
the eighth week. During the broiler growout period, the Company provides
growers with feed, vitamins and medication for the broilers, if needed, as
well as supervisory and technical services. The broilers are then
transported by the Company to its nearby processing plants. The Company
processed approximately 5.5 billion pounds of consumer poultry during
fiscal 1996.
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The Company's farrow to finish swine operations, which include genetic
and nutritional research, breeding, farrowing and feeder pig finishing and
the marketing of live swine to regional and national packers, are conducted
in Arkansas, North Carolina, Oklahoma, Missouri and Alabama. The Company
sold approximately 1.6 million head of market weight live swine in fiscal
1996. In addition to its live swine operations, the Company historically
was engaged in the further-processing of beef and pork. The Company
processed approximately 233 million pounds of consumer beef and pork during
fiscal 1996. On April 24, 1996, the Company announced plans to sell its
beef and pork further-processing operations. The beef further-processing
operations included plants located in Harlingen, Texas; Garland, Texas;
Sioux Center and Orange City, Iowa. The pork further-processing operations
consisted of one plant located in Holland, Michigan. On November 25, 1996,
the Company sold its beef further-processing operations. Additionally, on
December 13, 1996 the Company closed its pork further-processing plant and
anticipates that it will be sold in 1997. Accordingly, the assets of these
operations have been classified as a current asset at September 28, 1996.
The net proceeds from the dispositions will collectively exceed the current
carrying values. The Company intends to use net proceeds from the sale of
these operations primarily to fund capital expenditures and reduce debt.

The Company is the leading manufacturer, marketer and distributor of
branded surimi-based seafood offerings including analog crabmeat, lobster,
shrimp and scallops. Additionally, the Company's seafood operations consist
of the largest catching and at-sea processing fleet in the North Pacific.
These vessels harvest a wide range of species of bottomfish and shellfish
year-round off the coasts of Alaska, Washington and Oregon. The catch is
either processed at sea or in shore-based processing facilities into a
variety of product forms. The Company's long-term strategy for seafood
products continues to be a plan of using its marketing and distribution
channels to expand sales opportunities while using its research and
development resources to create additional value-enhanced seafood products.

The Company's Mexican Original operations produce flour and corn tortilla
products for Mexican restaurants and other major customers.

The Company's by-products operations convert inedible poultry by-products
into high-grade pet food and animal feed.




















5
Sources of Revenue

The principal revenue sources of the Company included value-enhanced
poultry products, fresh and frozen poultry products, value-enhanced beef
and pork products, Mexican Original products, frozen dinner products,
seafood products, live swine and related operations, animal foods, by-
products, and other miscellaneous products. The following table sets forth
the relative sources of the Company's revenues for the last three fiscal
years.
<TABLE>
<CAPTION>
For Fiscal Year Ended
---------------------
1996 1995 1994
---- ---- ----
<S> <C> <C> <C> <C>
Consumer poultry products:
Value-enhanced poultry (1) 63% 64% 65%
Basic poultry (2) 15 11 10
--- --- ---
Total consumer poultry 78 75 75
Beef and pork (3) 5 9 11
Mexican Original products
and other prepared foods (4) 5 7 5
Seafood (5) 5 5 5
Animal foods, by-products,
live swine and other 7 4 4
--- --- ---
Total 100% 100% 100%

<FN>

(1) Includes products such as chicken patties and nuggets, pre-cooked
chicken, individually-quick-frozen chicken segments, pre-packaged and
pre-priced poultry, Cornish game hens and other poultry products
to which certain processes are added to enhance its value to the
Company's customers.

(2) Includes fresh and frozen poultry products sold without value
enhancements. The increase in this category for fiscal 1996 results
from the acquisition of the U.S. broiler business of Cargill,
Incorporated and McCarty Farms, Inc., in September 1995.

(3) Included value-enhanced beef and pork products such as portion
controlled steaks, chops and roasts, ground beef, chicken-fried
steaks, meatloaf, hams, bacon and sausages. The previously described
sale of the beef further-processing operations and closure of the pork
further-processing operations will result in a discontinuance of these
products during the first quarter of fiscal 1997.

(4) Includes flour and corn tortillas, corn chips, taco shells and filled
tortilla specialty items; premium frozen dinners and other specialty
items.

(5) Includes surimi-based products as well as breaded and battered
seafood, fillets and crab.
</FN>
</TABLE>
6
Marketing and Distribution

The Company seeks to develop and increase the demand for and market
share of a product or product line through concentrated national and local
advertising and other promotional efforts stressing product quality and
brand identification and meeting specific customer requirements. The
Company's principal marketing strategy is to identify target markets for
value-enhanced food products consisting primarily of poultry, Mexican
Original and seafood. The Company concentrates production, sales and
marketing efforts in order to appeal to and enhance the demand from those
markets. The Company utilizes its national distribution system and customer
support services to achieve a dominant market position for its products and
identifies distinct markets through trade and consumer research.

The Company's nationwide distribution system utilizes a network of
food distributors which is supported by cold storage warehouses owned or
leased by the Company, by public cold storage facilities and by the
Company's transportation system. The Company ships products from two
Company-owned major frozen food distribution centers having a storage
capacity of approximately 58 million pounds, from a network of public cold
storages, from other owned or leased facilities or directly from plants.
The Company has a total frozen storage capacity in excess of 126 million
pounds, excluding public or outside cold storage. The Company's
distribution centers facilitate accumulating frozen products so that it can
fill and consolidate less-than-truckload orders into full truckloads,
thereby decreasing shipping costs while increasing customer service. In
addition, customers are provided with a selection of products that do not
require large volume orders. The Company's distribution system enables it
to supply large or small quantities of products to meet customer
requirements anywhere in the continental United States.

The Company's food products are sold primarily in three broad domestic
markets consisting of foodservice, retail and wholesale clubs. The
foodservice, retail and wholesale club markets may, in some cases, overlap.
The Company's food products are also sold internationally.

In the foodservice market, the Company sells poultry, seafood and
tortilla products. Operators serving these products include commercial
restaurants, business/industry, colleges/universities, national/regional
chains, hotels/lodging, primary/secondary schools, health/elderly care and
other foodservice accounts. The Company's products are sold through
foodservice and specialty distributors who deliver to the above listed
operators.

Foodservice products are sold under the following brands and
registered trademarks: Tyson, Holly Farms, Weaver, Tastybird Tastybasted,
Honey Stung, Tyson's Pride, HoneyBest, Wing Stingers, W.W. Flyers,
Signature Specialties, Flavor-Redi, Mexican Original, Louis Kemp, Arctic
Ice, Enterprise, Crab Delights, Lobster Delights, Ocean Master and Sure
Salad.

Foodservice products include: (a) poultry items such as individually-
quick-frozen segments (IQF), ready-to-cook and fully cooked fried chicken,
fully cooked breaded and glazed wings, cooked and ready-to-cook breaded and
unbreaded tenderloins, breaded and unbreaded patties and chunks (cooked and
ready-to-cook), oven roasted chicken, stuffed breast specialties, split
broilers, Cornish hens, commodity breast, flavor marinated breasts, fully

7
cooked diced chicken products, breaded breast and thigh pieces and
strips; (b) tortilla items such as flour and corn tortillas and chips; and
(c) seafood items such as surimi, snow crab, king crab, pollock, cod and
several species of flatfish.

In the retail market the Company sells a wide variety of food products
to customers that sell food products for at-home consumption. These
customers include grocery store chains, independent grocery stores and
grocery wholesalers.

Tyson, Weaver, Healthy Portion, Tyson Holly Farms, Mexican Original,
Louis Kemp, Crab Delights, Lobster Delights, JAC Creative Foods, Captain
JAC and SeaFest are registered trademarks under which the Company sells
retail products.

Retail products include: (a) frozen prepared foods consisting of
separate lines of Tyson breaded chicken patties, chunks, fillets and
tenders; Weaver breaded chicken tenders, nuggets, patties and fillets;
Tyson premium plated dinners; Tyson flavored chicken wings; Tyson complete
meal kits; Tyson premium pot pies; Tyson Healthy Portion meals; Tyson
individually-quick-frozen chicken parts and breaded chicken patties and
chunks; and Weaver fried chicken; (b) refrigerated prepared foods
consisting of separate lines of Tyson Holly Farms roasted and rotisserie
ready-to-eat chicken; Tyson and Weaver sliced lunch meat; Tyson, Weaver and
Holly Farms hot dogs; Tyson and Weaver deli meats; and Mexican Original
tortillas, chips, and taco shells;(c) refrigerated Tyson Holly Farms chill
pack poultry; (d) frozen and refrigerated Tyson Cornish game hens; and (e)
seafood products which are marketed under the Louis Kemp brand of Crab
Delights and Lobster Delights, as well as the JAC Creative Foods brands of
Captain JAC and SeaFest.

In the wholesale club market the Company designs and markets a variety
of products targeted to small foodservice operators and consumers who
frequent club stores. These products are aimed at both foodservice
operators who buy in small quantities and want to cut costs of storage and
final distribution, as well as retail consumers willing to buy larger than
normal quantities to realize cost savings. The Company sells several
categories of products including: IQF chicken, fresh chicken, refrigerated
roasted ready-to-eat chicken, frozen value-added chicken and canned
chicken; surimi-based seafood products, frozen pollock, cod and crab legs.

The Company's international division markets and sells the full line
of Tyson products, including poultry, Mexican Original products and
seafood, throughout the world. The international division exported to 71
countries in fiscal 1996. Major markets include Japan, Russia, Hong Kong,
Singapore and China. The Company also exported to Canada, Mexico, certain
Middle Eastern countries, and many countries in the Caribbean.

The Company continues to believe that Southeast Asia offers tremendous
potential in terms of developing fully-integrated poultry facilities.
Several existing Chinese, Indonesian and Philippine operations are
currently being researched to determine feasibility. Meanwhile, the
Company's joint venture operation in Mexico has grown under the
economically difficult period caused by the sudden devaluation of the peso.
The Company has also entered into a joint venture in Russia and opened an
office in Moscow allowing the Company to develop more direct contact with
its customers. Cobb-Vantress, Inc., a wholly-owned subsidiary, has entered

8
into a joint venture agreement with a Hong Kong company to build a 180
thousand capacity breeder farm in China. The Company also has a seafood
processing joint venture in Shanghai, China. This joint venture is engaged
in the value-added processing of seafood items.

A new venture was undertaken in 1995 with the creation of a wholly-
owned subsidiary of the Company's International Division called "World
Resource, Inc." This venture is a trading company which handles the
acquisition, certification and transportation of primarily agricultural
goods worldwide.

Raw Materials and Sources of Supply

The primary raw materials used by the Company in its poultry
operations consists of feed ingredients, cooking ingredients, packaging
materials and cryogenic agents. The Company believes that its sources of
supply for these materials are adequate for its present needs and the
Company does not anticipate any difficulty in acquiring these materials in
the future. While the Company produces substantially all of its inventory
of breeder chickens and live broilers, it has the capability to purchase
live, ice-packed or deboned poultry to meet poultry production
requirements.

In addition, raw material requirements for the Company's seafood
operations are met by either purchasing in the open market or by the
Company's vessels harvesting a wide range of species of bottomfish and
shellfish year-round off the coasts of Alaska, Washington and Oregon. A
large supply of bottomfish, one of the principal groups of fish harvested
for human consumption, is found in the 200-mile U.S. exclusive economic
zone off the coast of Alaska. This area also provides a significant
quantity of crab for commercial harvesting; however, crab quotas have been
severely limited in recent years. Following passage of the Magnuson
Fishery Conservation and Management Act of 1976 (the "Magnuson Act"), the
United States extended control over the management of offshore fishing
resources from a 12-mile to a 200-mile exclusive economic zone by, among
other things, establishing annual catch limits and allocating the available
resources between U.S. and foreign catchers and processors. As a result of
these government actions, the Company's ability to harvest seafood is
subject to these limitations.

Patents and Trademarks

The Company has registered a number of trademarks relating to its
products which either have been approved or are in the process of
application. Because the Company does a significant amount of brand name
and product line advertising to promote its products, it considers the
protection of such trademarks to be important to its marketing efforts. The
Company has also developed non-public proprietary information regarding its
production processes and other product-related matters. The Company
utilizes internal procedures and safeguards to protect the confidentiality
of such information, and where appropriate, seeks patent protection for the
technology it utilizes.

Seasonal Demand

The demand for the Company's products generally increases during the
spring and summer months and generally decreases during the winter months.

9
Because of the somewhat seasonal character of the Company's business, the
Company may increase its finished product inventories during the winter
months in anticipation of increased spring and summer demands.

Industry Practices

The Company's agreements with its customers are generally short-term,
verbal agreements due primarily to the nature of its products, industry
practice and the fluctuation in demand and price for such products.

Customer Relations

No single customer of the Company accounts for more than ten percent
of the Company's consolidated revenues, and the loss of any single customer
would not have a material adverse effect on the Company's business.
Although any extended discontinuance of sales to any major customer could,
if not replaced, have an impact on the Company's operations, the Company
does not anticipate any such occurrences due to the demand for its products
and its ability to obtain new customers.

Backlog of Orders

There is no significant backlog of unfilled orders for the Company's
products.

Competition

The Company's food products compete with those of other national and
regional food producers and processors and certain prepared food
manufacturers. Additionally, the Company's food products compete in
international markets in Europe, South America, Central America and the Far
East. The Company's principal marketing and competitive strategy is to
identify target markets for value-enhanced products, to concentrate
production, sales and marketing efforts in order to appeal to and enhance
the demand from those markets and, utilizing its national distribution
system and customer support services, to achieve a dominant market position
for its products. Past efforts have indicated that customer demand
generally can be increased and sustained through application of the
Company's marketing strategy, as supported by its distribution system.

Research and Development

The Company conducts continuous research and development activities to
improve the strains of primary poultry breeding stock, the genetic
qualities of swine, and finished product development. Additionally, a
separate staff of research and development personnel is maintained to
develop and provide for product needs. The annual cost of such research and
development programs is less than one percent of total consolidated annual
sales.

Regulation

The Company's facilities for processing poultry and for housing live
poultry and swine are subject to a variety of federal, state and local laws
relating to the protection of the environment, including provisions
relating to the discharge of materials into the environment, and to the
health and safety of its employees. The Company's poultry and Mexican

10
Original processing facilities are also subject to extensive inspection and
regulation by the United States Department of Agriculture. The cost of
compliance with such laws and regulations has not had a material adverse
effect upon the Company's capital expenditures, earnings or competitive
position and it is not anticipated to have a material adverse effect in the
future.

Fishing activities and seafood processing activities of the Company's
seafood operations are closely regulated by the United States Department of
Commerce and various other state and governmental agencies. These
agencies, among other things, establish fishing seasons and resource
depletion restrictions and regulate legal gear types. Violations of the
Magnuson Act and state laws can result in substantial penalties, ranging
from fines to seizure of catch and vessels. In addition, the seafood
operations are subject to various federal, state and local laws relating to
the protection of the environment and the health and safety of its
employees.

To provide consumer reassurance of product integrity and safety, to
create a quality point of difference with the competition, and to assume a
position of measured industry leadership in production standards, the
Company's seafood operation voluntarily complies with certain United States
Department of Commerce regulations which enable it to show the United
States Department of Commerce seal of approval (PUFI) on its primary
products. Three of the Company's seafood manufacturing facilities are
United States Department of Commerce inspected and are participants in the
government's pilot Hazard Analysis Critical Control Point (HACCP) program.

Employees and Labor Relations

As of September 28, 1996, the Company employed approximately 58,300
persons. The Company believes that its relations with its workforce are
good.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
FOR THE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

The Company and its representatives may from time to time make written
or oral forward-looking statements with respect to their current views and
estimates of future economic circumstances, industry conditions, company
performance and financial results. These forward-looking statements are
subject to a number of factors and uncertainties which could cause the
Company's actual results and experiences to differ materially from the
anticipated results and expectations expressed in such forward-looking
statements. The Company wishes to caution readers not to place undue
reliance on any forward-looking statements, which speak only as of the date
made.

Among the factors that may affect the operating results of the Company
are the following: (i) fluctuations in the cost and availability of raw
materials, such as feed grain costs in relation to historical levels; (ii)
changes in the availability and relative costs of labor, including contract
growers; (iii) market conditions for finished products, including the
supply and pricing of alternative proteins, all of which may impact the
Company's pricing power; (iv) effectiveness of advertising and marketing
programs; (v) the ability of the Company to make effective acquisitions and

11
to successfully integrate newly acquired businesses into existing
operations; (vi) risks associated with leverage, including cost increases
due to rising interest rates; (vii) changes in regulations and laws,
including changes in accounting standards, environmental laws,
occupational, health and safety laws, and laws regulating fishing and
seafood processing activities; (viii) access to foreign markets together
with foreign economic conditions, including currency fluctuations; and (ix)
the effect of, or changes in, general economic conditions.

ITEM 2. PROPERTIES

The Company currently has production and distribution operations in
the following states: Alabama, Alaska, Arkansas, Florida, Georgia,
Illinois, Indiana, Maryland, Michigan, Minnesota, Mississippi, Missouri,
North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee,
Texas, Virginia and Washington. Additionally, the Company, either directly
or through its subsidiaries, has facilities in or participates in joint
venture operations in Argentina, Brazil, Canada, China, Denmark, Hong Kong,
India, Indonesia, Japan, Mexico, the Philippines, Russia, South Africa,
Spain, the United Kingdom and Venezuela.

The principal poultry operations of the Company consist of 57
processing plants. These plants are devoted to various phases of
slaughtering, dressing, cutting, packaging, deboning or further-processing.
The total slaughter capacity is approximately 36 million head per week.

To support the above facilities the Company operates 31 feed mills and
58 broiler hatcheries with sufficient capacity to meet the needs of the
poultry growout operations. In addition, the Company has poultry cold
storage facilities owned or leased with a capacity of approximately 109.3
million pounds.
The Company's Mexican Original products and prepared foods operations
consist of four processing plants supported by three additional freezer
storage facilities.

The Company's seafood operations consist of 30 catching and at-sea
processing vessels along with two freighters. The at-sea processing is
supported by nine shore-based processing plants, four of which are
dedicated to surimi processing.

The Company's animal feed and pet food processing operations consist
of six rendering plants with the capacity to produce 18.5 million pounds of
animal protein products per week. Thirteen ground pet food processing
operations in connection with poultry processing plants are capable of
producing 7.4 million pounds of product per week.

The Company's live swine operations consist of 163 swine farrowing and
nursery units and 383 swine finishing units. These swine growout operations
are supported by three dedicated feed mills supplemented by the production
from the poultry operations' feed mills. In addition, the Company operates
a grain drying and two storage facilities in support of its swine feed mill
operations.
The Company owns its major operating facilities and vessels with the
following exceptions: two poultry processing plants are leased under
agreements expiring in 1997 and 2002 and one poultry emulsified operation
facility is leased month to month, four broiler hatcheries are leased under
agreements expiring in 1998, 290 breeder farms are leased under agreements

12
expiring at various dates through 1999, two freezer storage facilities are
leased under agreements expiring in 1997 and 1998, 64 swine farrowing and
nursery units and 316 swine finishing units are leased under one to ten
year renewable lease agreements and two seafood processing plants are
leased under agreements expiring in 1996 and 1998.

Management believes that the Company's present facilities are
generally adequate and suitable for its current purposes. In general,
the Company's facilities are fully utilized. However, seasonal fluctuations
in inventories and production may occur as a reaction to market demands for
certain products. In 1996, management initiated a seven percent cut in
production in response to market conditions. The Company regularly engages
in construction and other capital improvement projects intended to expand
capacity and improve the efficiency of its processing and support
facilities.

ITEM 3. LEGAL PROCEEDINGS

On April 13, 1995, a purported shareholder's derivative action (the
"Action") was filed by a single shareholder on the Company's behalf in the
Court of Chancery of Delaware against the directors and principal
shareholders of the Company. The Action alleges that such persons breached
their fiduciary duties to the Company as a result of their approval and/or
participation in certain transactions in fiscal year 1994 between the
Company and various officers and directors or their affiliates, including
certain lease, poultry supply, poultry grow-out, wastewater treatment and
research and development service arrangements (such transactions being more
fully described under the caption "Certain Transactions" in the Company's
Proxy Statement for its 1995 Annual Meeting). Additionally, the Action
alleges that the compensation and expense reimbursements paid to the
Company's Senior Chairman in fiscal year 1994, and the expense
reimbursements paid to him in fiscal year 1993, were excessive. The Action
seeks various remedies, including (i) voiding of the challenged
transactions and an accounting of profits derived therefrom, (ii) damages
resulting from the challenged transactions, and (iii) costs, expenses and
attorney fees. The Company is named as a nominal defendant in the Action,
but no claim has been asserted against it.
On May 10, 1995, the defendants filed a Motion to Dismiss the Action
claiming failure by the plaintiff to (i) make a pre-suit demand for action
by the directors of the Company, (ii) obtain personal jurisdiction over
certain shareholder defendants, and (iii) state a claim upon which relief
can be granted. On July 6, 1995, the Court of Chancery entered a stipulated
order dismissing the Action without prejudice as to certain of the non-
director defendants. The Motion to Dismiss as to the remaining defendants
is currently pending before the Court of Chancery. By Stipulation Order of
said Court dated October 18, 1995, and pursuant to agreement of the
parties, said Motion to Dismiss is being held in abeyance while settlement
discussions occur.
Since the Action purports to be a shareholder's derivative suit, any
recovery (except attorneys fees or other costs and expenses, if allowed)
would not be paid to the plaintiff, but rather would be paid directly to
the Company. The Company has undertaken to advance certain expenses of the
director defendants and, if applicable, may be required to satisfy certain
indemnification obligations with respect to such individuals. However,
Management does not believe that the Action or such indemnification
obligations will have a material adverse effect on the Company's financial
position or results of operations.

13
ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not applicable.

Executive Officers of the Company

Officers of the Company serve one year terms from the date of their
election, or until their successors are appointed and qualified. The
name, title, age and year of initial election of the Company's executive
officers are listed below:
<TABLE>
<CAPTION>
Year
Name Title Age Elected
- ------- ----- --- -----
<S> <C> <C> <C>
Don Tyson Senior Chairman of the Board of Directors 66 1963

Leland E. Tollett Chairman of the Board of Directors and 59 1966
Chief Executive Officer

Donald E. Wray President and Chief Operating Officer 59 1979

John H. Tyson President, Beef and Pork Division 43 1984

Wayne Britt Executive Vice President and 47 1977
Chief Financial Officer

Greg Lee Executive Vice President, Sales, 49 1993
Marketing and Technical Services

David Purtle Executive Vice President, Operations, 52 1985
Transportation and Warehousing

Roy Brown Senior Vice President, 44 1993
Seafood Division

William Jaycox Senior Vice President, 50 1990
Human Resources

William Kuckuck Senior Vice President, International 42 1996
Sales, Marketing and Operations

James Ennis Vice President, Controller and 51 1996
Chief Accounting Officer

Dennis Leatherby Treasurer 36 1994

Mary Rush Secretary and Director of Investor 62 1982
Relations

</TABLE>






14
John H. Tyson is the son of Don Tyson. No other family relationships
exist among the above officers. Mr. Tyson was appointed Senior Chairman of
the Board of Directors in 1995 after serving as Chairman of the Board. Mr.
Tollett was appointed Chief Executive Officer and Chairman of the Board of
Directors in 1995 after serving as Chief Executive Officer and President
since 1991, Vice Chairman of the Board of Directors since 1994, and
President and Chief Operating Officer since 1983. Mr. Wray was appointed
President and Chief Operating Officer in 1995 after serving as Chief
Operating Officer since 1991. Mr. John H. Tyson was appointed President,
Beef and Pork Division in 1993 after serving as Vice President since 1987.
Mr. Britt was appointed Executive Vice President and Chief Financial
Officer in 1996 after serving as Senior Vice President, International Sales
and Marketing since 1994, Vice President, Wholesale Club Division since
1992 and Vice President, Secretary/Treasurer since 1982. Mr. Lee was
appointed Executive Vice President, Sales, Marketing and Technical Services
in 1995 after serving as Senior Vice President, Sales and Marketing since
1993 and Division Vice President of Foodservice Sales and Marketing since
1988. Mr. Purtle was appointed Executive Vice President, Operations,
Transportation and Warehousing in 1995 after serving as Senior Vice
President, Operations since 1991. Mr. Brown was appointed Senior Vice
President, Seafood Division in 1993 after serving as Vice President, Sales
and Marketing, International Division since 1992. Mr. Jaycox was appointed
Senior Vice President, Human Resources in 1995 after serving as Group Vice
President, Human Resources since 1990. Mr. Kuckuck was appointed Senior
Vice President, International Sales, Marketing and Operations in 1996 after
serving as Vice President and Managing Director of Southeast Asia since he
joined the Company in 1995. Prior to joining the Company, Mr. Kuckuck was
Vice President and Chief Operations Officer for Ralston-Purina's International
Division since 1991. Mr. Ennis was appointed Vice President, Controller and
Chief Accounting Officer in 1996 after serving as Corporate Tax Manager
since 1986. Mr. Leatherby was appointed Treasurer in 1994 after serving as
Assistant Treasurer since 1990. Ms. Rush was appointed Secretary and
Director of Investor Relations in 1992 after serving as Assistant
Secretary/Treasurer since 1982.
























15
PART II

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS

The Company currently has issued and outstanding two classes of
capital stock, Class A Common Stock (the "Class A Stock") and Class B
Common Stock (the "Class B Stock"). Information regarding the voting rights
and dividend restrictions are set forth on page 37 of the Annual Report
under the caption "Capital Stock," which information is incorporated herein
by reference.

On September 28, 1996, there were approximately 36,857 holders of
record of the Company's Class A Stock and 22 holders of record of the
Company's Class B Stock, excluding holders in the security position
listings held by nominees. The Company's Class A Stock is traded on the
Nasdaq stock market's National Market System under the symbol "TYSNA." No
public trading market currently exists for the Class B Stock. Information
regarding the high and low sales prices of the Company's Class A Stock is
set forth in the table on page 48 of the Annual Report under the caption
"Price of Company's Common Stock," which information is incorporated herein
by reference.

The Company has paid uninterrupted quarterly dividends on its common
stock each year since 1977. On November 20, 1995, the Board of Directors
increased the annual dividend rate on Class A Stock to $.12 per share and
fixed an annual dividend rate of $.108 per share for the Class B Stock,
effective with the quarterly dividend paid on December 15, 1995. The
Company has continued to pay quarterly dividends at the same rates through
fiscal 1996.

ITEM 6. SELECTED FINANCIAL DATA

See the information reflected under the caption "Eleven-Year Financial
Summary" on pages 26-27 of the Annual Report, which information is
incorporated herein by reference.

ITEM 7. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

See the information reflected under the caption "Management's
Discussion and Analysis" on pages 29, 30, 33 and 35 of the Annual Report,
which information is incorporated herein by reference.

ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

See the information on pages 28, 31, 32, 34, 36-44 and 46 of the
Annual Report under the caption "Consolidated Statements of Operations,"
"Consolidated Statements of Shareholders' Equity," "Consolidated Balance
Sheets," "Consolidated Statements of Cash Flows," "Notes to Consolidated
Financial Statements," and "Report of Independent Auditors," which
information is incorporated herein by reference. Other financial
information is filed under Item 14 of Part IV of this report.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

Not applicable.
16
PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The information set forth under the captions "Election of Directors"
and "Compliance with Section 16(a) of the Securities Exchange Act of 1934"
in the Proxy Statement, which information is incorporated herein by
reference.

ITEM 11. EXECUTIVE COMPENSATION

Pursuant to general instruction G(3) of the instructions to Form 10-K,
certain information concerning the Company's executive officers is included
under the caption "Executive Officers of the Company" in Part I of this
Report. See the information set forth under the caption "Executive
Compensation and Other Information" in the Proxy Statement, which
information is incorporated herein by reference.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

See the information included under the caption "Principal
Shareholders" and "Security Ownership of Management" in the Proxy
Statement, which information is incorporated herein by reference.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

See the information included under the caption "Certain Transactions"
in the Proxy Statement, which information is incorporated herein by
reference.





























17
PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENTS, SCHEDULES, AND REPORTS ON FORM 8-K

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

1. The following consolidated financial statements of the
registrant included on pages 28, 31, 32, 34 and 36-44 in
the Company's Annual Report for the fiscal year ended
September 28, 1996, and the Report of Independent Auditors,
on page 46 of such Annual Report are incorporated herein by
reference. Page references set forth in the index below are
to page numbers in Exhibit 13 of this Form 10-K.
<TABLE> Pages
-----
<S> <C>
Consolidated Statements of Operations 59
for the three years ended September 28, 1996

Consolidated Statements of Shareholders' Equity for 63
the three years ended September 28, 1996

Consolidated Balance Sheets at 64
September 28, 1996 and September 30, 1995

Consolidated Statements of Cash Flows 67
for the three years ended September 28, 1996

Notes to Consolidated Financial Statements 70-80

Report of Independent Auditors 82
</TABLE>
2. The following additional information for the years 1996,
1995 and 1994 is submitted herewith. Page references are
to the consecutively numbered pages of this Report on
Form 10-K:

<TABLE> Pages
-----
<S> <C>
Report of Independent Auditors 27

Schedule VIII - Valuation and Qualifying 28
Accounts and Reserves for the three years ended
September 28, 1996
</TABLE>
All other schedules are omitted because they are neither applicable
nor required.

3. The exhibits filed with this report are listed in the
Exhibit Index at the end of this Item 14.

4. The Company did not file any reports on Form 8-K during the
fiscal year ended September 28, 1996.




18
EXHIBIT INDEX

The following exhibits are filed with this report or are incorporated
by reference to previously filed material. Page references are to the
cover page preceding each attached Exhibit.
<TABLE>
<CAPTION>
Exhibit No. Page
- ----------- ----
<S> <C> <C>
3.1 Certificate of Incorporation of the Company as amended
(previously filed as Exhibit 3(a) to the Company's
Registration Statement on Form S-4 filed with the
Commission on July 8, 1992, Commission File
No. 33-49368, and incorporated herein by reference).

3.2 Amended and Restated Bylaws of the Company 29-41

4.1 Form of Indenture between the Company and The Chase
Manhattan Bank, N.A., as Trustee relating to the
issuance of up to $500 million of Debt Securities
(previously filed as Exhibit 4 to Amendment No. 1 to
Registration Statement on Form S-3, filed with the
Commission on May 8, 1995, Registration No. 33-58177,
and incorporated herein by reference).

4.2 Form of 6.75% $150 million Note due June 1, 2005
(previously filed as Exhibit 4(b) to the Company's
Quarterly Report on Form 10-Q for the period ended
July 1, 1995, Commission File No. 0-3400, and
incorporated herein by reference).

4.3 Form of Fixed Rate Medium-Term Note (previously filed
as Exhibit 4.2 to the Company's Current Report on Form
8-K, filed with the Commission on July 20, 1995,
Commission File No. 0-3400, and incorporated herein by
reference).

4.4 Form of Floating Rate Medium-Term Note (previously
filed as Exhibit 4.3 to the Company's Current
Report on Form 8-K, filed with the Commission on
July 20, 1995, Commission File No. 0-3400, and
incorporated herein by reference).

4.5 Form of Calculation Agent Agreement (previously filed
as Exhibit 4.4 to the Company's Current Report on Form
8-K, filed with the Commission on July 20, 1995,
Commission File No. 0-3400, and incorporated herein by
reference).

4.6 Amended and Restated Note Purchase Agreement, dated
June 30, 1993, by and between the Company and various
Purchasers as listed in the Purchaser Schedule
attached to said agreement, together with the
following documents:
(a) Form of Series A Note

(b) Form of Series D Note

19
(previously filed as Exhibit 4(a) to the Company's
Quarterly Report on Form 10-Q for the period ended
July 3, 1993, Commission File No. 0-3400, and
incorporated herein by reference).

4.7 Amendment Agreement, dated November 1, 1994, to
Amended and Restated Note Purchase Agreements, dated
June 30, 1993, by and between the Company
and various Purchasers as listed in the Purchaser
Schedule attached to said agreement (previously filed
as Exhibit 10(a) to the Company's Quarterly Report on
Form 10-Q for the period ended December 31, 1994,
Commission File No. 0-3400, and incorporated herein by
reference).

4.8 Second Amendment Agreement, dated as of June 29, 1996, 42-48
to Amended and Restated Note Purchase Agreements,
dated June 30, 1993, by and between the Company and
various Purchasers as listed in the Purchaser Schedule
attached to said agreement.

4.9 Amended and Restated Note Agreement, dated
June 30, 1993, by and between the Company and
various Purchasers as listed in the Purchaser
Schedule attached to said agreement, together
with the following related documents:

(a) Form of Series E Note

(b) Form of Series F Note

(c) Form of Series G Note

(previously filed as Exhibit 4(b) to the Company's
Quarterly Report on Form 10-Q for the period ended
July 3, 1993, Commission File No. 0-3400, and
incorporated herein by reference).

4.10 Amendment Agreement, dated November 1, 1994, to
Amended and Restated Note Agreement, dated
June 30, 1993, by and between the Company and
various Purchasers as listed in the Purchaser
Schedule attached to said agreement (previously
filed as Exhibit 10(b) to the Company's Quarterly
Report on Form 10-Q for the period ended
December 31, 1994, Commission File No. 0-3400, and
incorporated herein by reference).

4.11 Second Amendment Agreement, dated as of June 29, 1996, 49-55
to Amended and Restated Note Agreement, dated
June 30, 1993, by and between the Company and
various Purchasers as listed in the Purchaser
Schedule attached to said agreement.

10.1 Master Shelf Agreement dated January 13, 1995, between
the Company and the Prudential Insurance Company of
America (previously filed as Exhibit 10(c) to the

20
Company's Quarterly Report on Form 10-Q for the period
ended December 31, 1994, Commission File No. 0-3400,
and incorporated herein by reference).

10.2 First Amended and Restated Credit Agreement, dated
May 26, 1995, by and among the Company, as Borrower,
The Chase Manhattan Bank N.A., Chemical Bank,
Cooperative Centrale Raiffeisen Boerenleenbank
B.A.(Rabobank Nederland), Morgan Guaranty Trust
Company of New York, National Westminister Bank Plc,
Nationsbank of Texas, N.A., and Societe Generale, as
Co-Agents, and Bank of America National Trust and
Savings Association, as Agent (previously filed as
Exhibit 4(g) to the Company's Quarterly Report on
Form 10-Q for the period ended July 1, 1995,
Commission File No. 0-3400, and incorporated herein by
reference).

10.3 Amendment No. 1 to First Amended and Restated Credit
Agreement, dated as of May 24, 1996, by and among the
Company, as Borrower, the banks party thereto, The
Chase Manhatten Bank, N.A., Chemical Bank, Cooperative
Centrale Raiffeisen-Boerenleenbank, B.A. (Rabobank
Nederland), Morgan Guaranty Trust Company of New York,
National Westminister Bank Plc, Nationsbank of Texas,
N.A., and Societe Generale as Co-Agents and Bank of
America National Trust and Savings Association, as
Agent (previously filed as Exhibit 4(a) to the
Company's Form 10-Q for the quarter ended
June 29, 1996, Commission File No. 0-3400, and
incorporated herein by reference).

10.4 Fourth Amended and Restated Credit Agreement,
including all exhibits thereto, dated as of
May 26, 1995, by and among the Company, as Borrower,
The Chase Manhattan Bank N.A., Chemical Bank,
Cooperative Centrale Raiffeisen-Boerenleenbank B.A.
(Rabobank Nederland), Morgan Guaranty Trust Company of
New York, National Westminister Bank Plc, Nationsbank
of Texas, N.A., and Societe Generale, as Co-Agents,
and Bank of America National Trust and Savings
Association, as Agent (previously filed as Exhibit
4(f) to the Company's Quarterly Report on Form 10-Q
for the period ended July 1, 1995, Commission File
No. 0-3400, and incorporated herein by reference).

10.5 Amendment No. 1 to Fourth Amended and Restated Credit
Agreement, dated as of May 24, 1996, by and among the
Company, as Borrower, the banks party thereto, The
Chase Manhatten Bank, N.A., Chemical Bank, Cooperative
Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank
Nederland), Morgan Guaranty Trust Company of New York,
National Westminister Bank Plc, Nationsbank of Texas,
N.A., and Societe Generale as Co-Agents and Bank of
America National Trust and Savings Association, as
Agent (previously filed as Exhibit 4(b) to the
Company's Form 10-Q for the quarter ended

21
June 29, 1996, Commission File No. 0-3400, and
incorporated herein by reference).

10.6 Issuing and Paying Agency Agreement dated
July 1, 1993, between the Company and Morgan
Guaranty Trust Company of New York, (previously
filed as Exhibit 10(d) to the Company's Quarterly
Report on Form 10-Q for the period ended
July 3, 1993, Commission File No. 0-3400, and
incorporated herein by reference).

10.7 Commercial Paper Dealer Agreement dated July 1, 1993,
between the Company and Merrill Lynch Money Markets,
Inc. (previously filed as Exhibit 10(e) to the
Company's Quarterly Report on Form 10-Q for the period
ended July 3, 1993, Commission File No. 0-3400, and
incorporated herein by reference).

10.8 Commercial Paper Dealer Agreement dated July 1, 1993,
between the Company and the First Boston Corporation
(previously filed as Exhibit 10(g) to the Company's
Quarterly Report on Form 10-Q for the period ended
July 3, 1993, Commission File No. 0-3400, and
incorporated herein by reference).


10.9 Commercial Paper Dealer Agreement dated July 1, 1993,
between the Company and J.P. Morgan Securities, Inc.
(previously filed as Exhibit 10(h) to the Company's
Quarterly Report on Form 10-Q for the period ended
July 3, 1993, Commission File No. 0-3400, and
incorporated herein by reference).

10.10 Commercial Paper Dealer Agreement dated July 1, 1993,
between the Company and Bank of America National Trust
and Savings Association (previously filed as Exhibit
10(i) to the Company's Quarterly Report on Form 10-Q
for the period ended July 3, 1993, Commission File
No. 0-3400, and incorporated herein by reference).

10.11 Commercial Paper Dealer Agreement dated
September 1, 1994, between the Company and Chase
Securities, Inc. (previously filed as Exhibit 10(j) to
the Company's Annual Report on Form 10-K for the
fiscal year ended October 1, 1994, Commission File
No. 0-3400, and incorporated herein by reference).

10.12 Tyson Foods, Inc. Senior Executive Performance Bonus
Plan adopted November 18, 1994 (previously filed as
Exhibit 10(k) to the Company's Annual Report on
Form 10-K for the fiscal year ended October 1, 1994,
Commission File No. 0-3400, and incorporated herein by
reference).

10.13 Tyson Foods, Inc. Restricted Stock Bonus Plan,
effective August 21, 1989, as amended and restated on
April 15, 1994; and Amendment to Restricted Stock

22
Bonus Plan effective November 18, 1994 (previously
filed as Exhibit 10(l) to the Company's Annual
Report on Form 10-K for the fiscal year ended
October 1, 1994, Commission File No. 0-3400, and
incorporated herein by reference).

10.14 Profit Sharing Plan and Trust of Tyson Foods, Inc., as
amended and restated through April 1, 1993;
Amendment No.1 thereto, effective April 1, 1995; and
terminating resolution, effective March 31, 1996
(previously filed as Exhibit 10(b) to the Company's
Form 10-Q for the quarter ended March 30, 1996,
Commission File No. 0-3400, and incorporated herein by
reference).

10.15 Tyson Foods, Inc. Employee Stock Purchase Plan, as
amended and restated through April 1, 1993; and
Amendment Nos. 1 and 2 thereto, effective
April 1, 1996 (previously filed as Exhibit 10(d) to
the Company's Form 10-Q for the quarter ended
March 30, 1996, Commission File No. 0-3400, and
incorporated herein by reference).

10.16 Tyson Foods, Inc. Incentive Stock Option Plan of 1982,
as amended and restated on September 5, 1987,
(previously filed as Exhibit 10(c) to the Company's
Annual Report on Form 10-K for the fiscal year ended
October 3, 1987, Commission File No. 0-3400, and
incorporated herein by reference).

10.17 Tyson Foods, Inc. Nonstatutory Stock Option Plan, as
amended and restated on November 18, 1994, (previously
filed as Exhibit 99 to the Company's Registration
Statement on Form S-8 filed with the Commission on
January 30, 1995, Commission File No. 33-54716, and
incorporated herein by reference).

10.18 Tyson Foods, Inc. Employee Stock Ownership Plan as
amended and restated through April 1, 1993; and
terminating resolution, effective March 31, 1996
(previously filed as Exhibit 10(c) to the Company's
Form 10-Q for the quarter ended March 30, 1996,
Commission File No. 0-3400, and incorporated herein by
reference).

10.19 Amended and Restated Employment Agreement dated
July 1, 1994, between the Company and Don Tyson,
Senior Chairman of the Board of Directors of the
Company (previously filed as Exhibit 10(r) to the
Company's Annual Report on Form 10-K for the fiscal
year ended October 1, 1994, Commission File
No. 0-3400, and incorporated herein by reference).

10.20 Retirement Savings Plan of Tyson Foods, Inc.,
qualified under Section 401(k) of the Internal Revenue
Code of 1986, as amended, originally effective as of
October 3, 1987, as amended and restated through

23
January 1, 1993; and Amendments Nos. 1-5 thereto
(previously filed as Exhibit 10(a) to the Company's
Form 10-Q for the quarter ended March 30, 1996,
Commission File No. 0-3400, and incorporated herein by
reference).

10.21 Tyson Employee Retirement Income Savings Plan, as
amended and restated effective April 1, 1987,
(previously filed as Exhibit 10(h) to the Company's
Annual Report on Form 10-K for the fiscal year ended
October 3, 1987, Commission File No. 0-3400, and
incorporated herein by reference).

10.22 Executive Savings Plan of Tyson Foods, Inc. effective
April 1, 1991; and Amendment No.1 thereto, effective
April 1, 1996 (previously filed and exhibit 10(e) to
the Company's Form 10-Q for the quarter ended
March 30, 1996, Commission File No. 0-3400, and
incorporated herein by reference).

10.23 Form of Indemnity Agreement between Tyson Foods, Inc.
and its directors and certain of its executive
officers.

11 Statement Regarding Computation of Earnings Per Share. 56

13 Pages 26-48 of the Annual Report to Shareholders for 57-85
the fiscal year ended September 28, 1996.

21 Subsidiaries of the Company. 86-87

23 Consent of Independent Auditors. 88

27 Financial Data Schedule. 89
</TABLE>























24
SIGNATURES

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

TYSON FOODS, INC.

By /s/ Wayne Britt December 13, 1996
-------------------
Wayne Britt
Executive Vice President
and Chief Financial Officer












































25
Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the date indicated.
<TABLE>
<S> <C> <C>
/s/ Wayne Britt Executive Vice President and December 13, 1996
- -------------------- Chief Financial Officer
Wayne Britt

/s/ Neely Cassady Private Investor and December 13, 1996
- -------------------- Arkansas State Senator
Neely Cassady

/s/ James G. Ennis Vice President, Controller December 13, 1996
- -------------------- and Chief Accounting Officer
James G. Ennis

/s/ Lloyd V. Hackley President, North Carolina December 13, 1996
- -------------------- Community College System
Lloyd V. Hackley

/s/ Gerald Johnston Private Investor December 13, 1996
- --------------------
Gerald Johnston

/s/ Shelby D. Massey Private Investor December 13, 1996
- --------------------
Shelby D. Massey

/s/ Joe F. Starr Private Investor December 13, 1996
- --------------------
Joe F. Starr

/s/ Leland E. Tollett Chairman of the Board of December 13, 1996
- --------------------- Directors and Chief
Leland E. Tollett Executive Officer

/s/ Barbara Tyson Vice President December 13, 1996
- ---------------------
Barbara Tyson

/s/ Don Tyson Senior Chairman of the December 13, 1996
- --------------------- Board of Directors
Don Tyson

/s/ John H. Tyson President, December 13, 1996
- --------------------- Beef and Pork Division
John H. Tyson

/s/ Fred S. Vorsanger Vice President (Emeritus), December 13, 1996
- --------------------- University of Arkansas
Fred S. Vorsanger and Private Investor

/s/ Donald E. Wray President and Chief December 13, 1996
- --------------------- Operating Officer
Donald E. Wray
</TABLE>
26
FINANCIAL STATEMENT SCHEDULES
REPORT OF INDEPENDENT AUDITORS

We have audited the consolidated financial statements of Tyson Foods, Inc.
as of September 28, 1996 and September 30, 1995, and for each of the three
years in the period ended September 28, 1996, and have issued our report
thereon dated November 15, 1996. Our audits also included the financial
statement schedule listed in Item 14(a) in this annual report (Form 10-K).
This schedule is the responsibility of the Company's management. Our
responsibility is to express an opinion based on our audits.

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


/s/ERNST & YOUNG LLP
- --------------------
ERNST & YOUNG LLP
Little Rock, Arkansas

November 15, 1996





































27
<TABLE>
<CAPTION>
TYSON FOODS, INC.
SCHEDULE VIII
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
Three Years Ended September 28, 1996

(Dollars in Millions)

Balance at Charged to Charged Balance
Beginning Costs and to Other Additions at End
Description of Period Expenses Accounts (Deductions) of Period
- ----------- ---------- --------- -------- ----------- ---------

<S> <C> <C> <C> <C> <C>
Allowance for
Doubtful Accounts

1996 $3.6 $1.9 0 ($2.0) $3.5

1995 $3.3 $1.1 0 ($0.8) $3.6

1994 $2.6 $1.1 0 ($0.4) $3.3

</TABLE>

































28