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 30, 1995

[ ] 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 30, 1995, the aggregate market value of the Class A
Common and Class B Common voting stock held by non-affiliates of the
registrant was $1,862,645,029 and $1,487,478 respectively.

On September 30, 1995, there were outstanding 76,335,669 shares of the
registrants Class A Common Stock, $.10 par value, and 68,454,388 shares of
its Class B Common Stock, $.10 par value.


Page 1 of 64 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
20-43 of registrant's Annual Report to Shareholders for fiscal year ended
September 30, 1995 (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 12, 1996
(the "Proxy Statement").


PART I

Item 1. Business


Pages 23-25, 27 and 31 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

Page 33 and 41 of the Annual Report under the caption
"Capital Stock" and "Price of Company's Common Stock."


Item 6. Selected Financial Data

Pages 20-21 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 23-25, 27 and 31 of the Annual Report under the caption
"Management's Discussion and Analysis."


Item 8. Financial Statements and Supplementary Data

Pages 22, 26, 28-30, 32-41 and 43 of the Annual Report under the
captions "Consolidated Statements of Operations," "Consolidated
Balance Sheets," "Consolidated Statements of Shareholders' Equity,"
"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.































3
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 beef and pork products; fresh and frozen pork products; value-
enhanced seafood products; fresh and frozen seafood products; and flour and
corn tortillas, chips and other Mexican food-based products. Additionally,
the Company has live swine, animal feed and pet food operations. The
Company's integrated operations consists of breeding and rearing chickens
and hogs, 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 insulate itself from the
commodity nature 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. As a result, although
fluctuations in grain prices impact the Company's operations, management
believes the Company's profitability is more dependent upon product
quality, marketing and service than on grain and broiler prices.

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

4
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 4.4 billion pounds of consumer poultry during
fiscal 1995.

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 987 thousand head of market weight live swine in fiscal
1995. In the fourth quarter of fiscal 1995, the Company exchanged its pork
processing facility as part of the consideration for additional broiler
operations from Cargill, Incorporated. The Company processed approximately
478 million pounds of consumer beef and pork during fiscal 1995.

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

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.




























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 food-based 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
---------------------
1995 1994 1993
---- ---- ----
<S> <C> <C> <C> <C>
Consumer poultry products:
Value-enhanced poultry (1) 64% 65% 67%
Basic poultry (2) 11 10 8
--- --- ---
Total consumer poultry 75 75 75
Beef and pork (3) 9 11 10
Mexican food-based products
and other prepared foods (4) 7 5 5
Seafood 5 5 5
Animal foods, by-products,
live swine and other 4 4 5
--- --- ---
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 1995 and 1994
results from the acquisition of a controlling interest in Trasgo, S.A.
de C.V. (Trasgo) in April 1994. Trasgo currently does not have a
significant amount of value-enhanced products.

(3) Includes value-enhanced beef and pork products such as portion
controlled steaks, chops and roasts, ground beef, chicken-fried
steaks, meatloaf, hams, bacon and sausages.

(4) Includes flour and corn tortillas, corn chips, taco shells and filled
tortilla specialty items; premium frozen dinners and other specialty
items.
</FN>
</TABLE>
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, brand
identification and meeting specific customer requirements. The Company's

6
principal marketing strategy is to identify target markets for value-
enhanced food products consisting primarily of poultry, beef, pork, Mexican
food-based 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.
The Company 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 120 million
pounds, excluding public or outside cold storage. The Company's
distribution centers facilitate accumulating frozen products so that the
Company 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, beef, pork,
seafood and tortilla products. Operators serving these products include
full service restaurants, fast-food restaurants, hotels/motels,
retail/recreation, healthcare, schools/colleges, business and industry 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, Tyson beef, Quick-to-
Fix, Tyson pork, 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-
cooked diced chicken products and breaded breast and thigh pieces and
strips; (b) beef items such as country-fried steaks, portion-controlled
steaks, prime rib and roasts, charbroiled beef patties, ground beef, and
beef specialties such as meatballs, Salisbury steaks and meatloaf; (c) pork
items such as hams, ham loaf and ham patties, sausages including polish,

7
knockwurst and bratwurst, frankfurters, bulk and pre-sliced deli-meats,
fully-cooked pork specialties including rib and loin products, pork chops,
pork roasts and pork ribs; (d) tortilla items such as flour and corn
tortillas and chips; and (e) 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; Weaver fried chicken; and Tyson pork rib and beef rib patties;(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; Mexican Original tortillas, chips, and taco shells; and Tyson ham
and specialty meats;(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 large families 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; frozen value-added beef and pork products; surimi, frozen pollock,
cod and crab legs.

The Company's international division markets and sells the full line
of Tyson products, including poultry, beef, pork, Mexican food-based
products and seafood, throughout the world. The international division
exported to 43 countries in fiscal 1995. 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 feel that China has tremendous potential in
terms of developing fully-integrated poultry facilities. Several existing
Chinese operations are currently being researched to determine feasibility.
Meanwhile, the Company's existing operation in Mexico has grown under the
economically difficult period caused by the sudden devaluation of the peso.

8
The Company has also entered into a joint venture in Russia to open an
office in Moscow allowing the Company to develop more direct contact with
its customers. Cobb-Vantress, Inc., a wholly-owned subsidiary, has entered
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 value-added processing of seafood items.

A new venture has been 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 will
handle the acquisition, certification and transporting 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, live broilers and swine, it has the capability to
purchase live, ice-packed or deboned poultry to meet poultry production
requirements. Raw materials for the Company's beef and pork operations are
purchased through the open market.

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
severly 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 propriety information regarding its
production processes and other product-related matters. While the Company
utilizes internal procedures and safeguards to protect the confidentiality
of such information, it does not generally seek patent protection for the
technology it utilizes.


9
Seasonal Demand

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




10
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
environmental protection laws and regulations, including provisions
relating to the discharge of materials into the environment. The Company's
poultry, beef, pork and Mexican food-based 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. See "Legal Proceedings" under
item 3. In addition, the seafood operations are subject to various federal,
state and local laws relating to protection of the environment and the
health and safety of 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. Four 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 30, 1995, the Company employed approximately
64,000 persons. The Company believes that its relations with its workforce
are good.

ITEM 2. PROPERTIES

The Company currently has production and distribution operations in
the following states: Alabama, Alaska, Arkansas, Florida, Georgia,
Illinois, Iowa, 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 consists of 58
processing plants. These plants are devoted to various phases of
slaughtering, dressing, cutting, packaging, deboning or further-processing.
The total slaughter capacity is approximately 38 million head per week.


11
To support the above facilities the Company operates 29 feed mills and
57 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 103.7
million pounds.

The Company's beef and pork operations consist of six plants with a
capacity to process 7.5 million pounds per week, supported by six freezer
storage facilities.

The Company's Mexican food-based products and prepared foods consists
of six processing plants supported by four additional freezer storage
facilities.

The Company's seafood operations consist of 32 catching and at-sea
processing vessels along with two freighters. The at-sea processing is
supported by nine shore-based processing plants, five 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. Twelve ground pet food processing
operations in connection with poultry processing plants are capable of
producing 6.9 million pounds of product per week.

The Company's live swine operations consists of 118 swine farrowing
and nursery units and 575 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: three poultry processing plants are leased under
agreements expiring in 1996 and 2002 and one poultry emulsified operation
facility is leased until 1996, four broiler hatcheries are leased under
agreements expiring in 1998, 257 breeder farms are leased under agreements
expiring at various dates through 1999, 38 pullet farms and 91 broiler
farms are leased under year-to-year leases, four freezer storage facilities
are leased under agreements expiring in 1996, 1997, 1998 and 1999, 52 swine
farrowing and nursery units and 378 swine finishing units are leased under
one to ten year renewable lease agreements and one seafood
processing plant is leased under an agreement expiring in 1996.

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. 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.







12
ITEM 3.  LEGAL PROCEEDINGS

On September 8, 1993, the State of Alaska, after conducting
investigations, filed a Complaint for Forfeiture and Damages alleging that
certain Arctic Alaska Fisheries Corporation vessels participated in the use
of certain fishing gear during 1990, 1991, and 1992. While management is
not able at the present time to determine the outcome of these matters,
based upon information currently available, management presently believes
that the probability is remote that its resolution will have a material
adverse effect on the Company's financial position or results of
operations.

On April 13, 1995, a purported shareholder's derivative 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"). 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.

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

Not applicable.

13
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> <S> <C> <C>
Don Tyson Senior Chairman of the Board of Directors 65 1963

Leland E. Tollett Chairman of the Board of Directors and 58 1966
Chief Executive Officer

Donald E. Wray President and Chief Operating Officer 58 1979

Wayne Britt Senior Vice President, 46 1977
International Sales, Marketing and
Operations

Roy Brown Senior Vice President, 43 1993
Seafood Division

William Jaycox Senior Vice President, 49 1990
Human Resources

Gary Johnson Corporate Controller 51 1982

Gerald Johnston Executive Vice President, Finance 53 1972

Dennis Leatherby Treasurer 35 1994

Greg Lee Executive Vice President, Sales, 48 1993
Marketing and Technical Services

David Purtle Executive Vice President, Operations, 51 1985
Transportation and Warehousing

Mary Rush Secretary and Director of Investor 61 1982
Relations

John H. Tyson President, Beef and Pork Division 42 1984
</TABLE>












14
John H. Tyson is the son of Don Tyson. No other family relationships
exist among the above officers. Messrs. Johnson and Johnston have served
the Company in essentially the indicated capacities for more than the past
five years. 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 Office since 1983. Mr. Wray was appointed President and Chief
Operating Officer in 1995 after serving as Chief Operating Officer since
1991 and Senior Vice President, Sales and Marketing Division since 1985.
Mr. Britt was appointed Senior Vice President, International Sales and
Marketing in 1994 after serving as Vice President, Wholesale Club Division
since 1992 and Vice President, Secretary/Treasurer since 1982. 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.
Leatherby was appointed Treasurer in 1994 after serving as Assistant
Treasurer since 1990. 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 and
Group Vice President, Operations since 1985. Ms. Rush was appointed
Secretary and Director of Investor Relations in 1992 after serving as
Assistant Secretary/Treasurer since 1982. Mr. John H. Tyson was appointed
President, Beef and Pork Division in 1993 after serving as Vice President
since 1987.



























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 33 of the Annual Report
under the caption "Capital Stock," which information is incorporated herein
by reference.

On September 30, 1995, there were approximately 35,163 holders of
record of the Company's Class A Stock and 24 holders of record of the
Company's Class B Stock, excluding holders in the security positions
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 41 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 to be paid on December 15, 1995.
Prior to that, quarterly dividends were paid at an annual rate of $.08 for
Class A Stock and $.0667 for Class B Stock.

ITEM 6. SELECTED FINANCIAL DATA

See the information reflected under the caption "Eleven-Year Financial
Summary" at pages 20-21 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" at pages 23-25, 27 and 31 of the Annual Report,
which information is incorporated herein by reference.

ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

See the information on pages 22, 26, 28-30, 32-41 and 43 of the Annual
Report under the caption "Consolidated Statements of Operations,"
"Consolidated Balance Sheets," "Consolidated Statements of Shareholders'
Equity," "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 22, 26, 28-30, 32-41 in the
Company's Annual Report for the fiscal year ended
September 30, 1995 and the Report of Independent Auditors,
on page 43 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 37
for the three years ended September 30, 1995

Consolidated Balance Sheets at 42
September 30, 1995 And October 1, 1994

Consolidated Statements of Shareholders' Equity 44-45
for the three years ended September 30, 1995

Consolidated Statements of Cash Flows 46
for the three years ended September 30, 1995

Notes to Consolidated Financial Statements 48-57

Report of Independent Auditors 59
</TABLE>
2. The following additional information for the years 1995,
1994 and 1993 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 28

Schedule VIII - Valuation and Qualifying 29
Accounts and Reserves for the three years ended
September 30, 1995
</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. On July 20, 1995, the Company filed a Current Report on
Form 8-K related to the offer of medium-term notes due from
nine months to thirty years from the date of issuance in
the principal amount of up to $350 million.



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
- ----------- ----
<C> <S> <C>
3(a) 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(b) Amended and Restated Bylaws of the Company
(previously filed as Exhibit 3(a) 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).

4(a) 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(b) 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(c) 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(d) 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(e) 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).


19
4(f)       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:

(i) Form of Series A Note

(ii) Form of Series D Note

(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(g) 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(h) 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:

(i) Form of Series E Note

(ii) Form of Series F Note

(iii) 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(i) 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).

10(a) 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 Company's Quarterly Report on Form

20
10-Q for the period ended December 31, 1994,
Commission File No. 0-3400, and incorporated
herein by reference).

10(b) 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(c) 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(d) 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(e) 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(f) 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).
21
10(g)      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(h) 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(i) 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(j) 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(k) Tyson Foods, Inc. Restricted Stock Bonus Plan,
effective August 21, 1989, as amended and
restated on April 15, 1994; and Amendment to
Restricted Stock 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(l) Profit Sharing Plan and Trust of Tyson Foods,
Inc., as amended and restated effective
April 1, 1987, (previously filed as Exhibit 10(a)
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(m) Tyson Foods, Inc. Employee Stock Purchase Plan,
effective April 1, 1979, as amended and restated
effective November 1, 1986, (previously filed as
Exhibit 10(b) 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).


22
10(n)      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(o) 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(p) Tyson Foods, Inc. Employee Stock Ownership Plan
as amended and restated on September 5, 1987,
(previously filed as Exhibit 10(e) 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(q) 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(r) Retirement Savings Plan of Tyson Foods, Inc.,
qualified under Section 401(k) of the Internal
Revenue Code, effective October 1, 1987, and
Trust Agreement related thereto (previously filed
as Exhibit 10(g) 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(s) 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(t) Form of Indemnity Agreement between Tyson Foods, 30-33
Inc. and its directors and certain of its
executive officers.

11 Statement Regarding Computation of Earnings Per 34
Share.


23
13         Pages 20-43 of the Annual Report to Shareholders        35-61
for the fiscal year ended September 30, 1995.

21 Subsidiaries of the Company. 62

23 Consent of Independent Auditors. 63

27 Financial Data Schedule. 64
</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/ Gerald Johnston November 20, 1995
-------------------
Gerald Johnston
Executive Vice President,
Finance













































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> <S> <S>
/s/Neely Cassady Private Investor and November 20, 1995
- -------------------- Arkansas State Senator
Neely Cassady

/s/ Lloyd V. Hackley President, North Carolina November 20, 1995
- -------------------- Community College System
Lloyd V. Hackley

/s/ Gary Johnson Corporate Controller November 20, 1995
- -------------------- (Principal Accounting
Gary Johnson Officer)

/s/Gerald Johnston Executive Vice President, November 20, 1995
- -------------------- Finance (Principal
Gerald Johnston Financial Officer)

/s/ Shelby D. Massey Private Investor November 20, 1995
- --------------------
Shelby D. Massey

/s/ Joe F. Starr Vice President November 20, 1995
- --------------------
Joe F. Starr

/s/ Leland E. Tollett Chairman of the Board of November 20, 1995
- --------------------- Directors and Chief
Leland E. Tollett Executive Officer

/s/ Barbara Tyson Vice President November 20, 1995
- ---------------------
Barbara Tyson

/s/ Don Tyson Senior Chairman of the November 20, 1995
- --------------------- Board of Directors
Don Tyson

/s/ John H. Tyson President, November 20, 1995
- --------------------- Beef and Pork Division
John H. Tyson

/s/ Fred S. Vorsanger Vice President(Emeritus) November 20, 1995
- --------------------- University of Arkansas
Fred S. Vorsanger and Private Investor

/s/ Donald E. Wray President and Chief November 20, 1995
- --------------------- Operating Officer
Donald E. Wray
</TABLE>





26
FINANCIAL STATEMENT SCHEDULES































27
REPORT OF INDEPENDENT AUDITORS

We have audited the consolidated financial statements of Tyson Foods, Inc.
as of September 30, 1995 and October 1, 1994, and for each of the three
years in the period ended September 30, 1995, and have issued our report
thereon dated November 13, 1995. 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 13, 1995





































28
<TABLE>
<CAPTION>
TYSON FOODS, INC.
SCHEDULE VIII
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
Three Years Ended September 30, 1995

(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

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

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

1993 $2.5 $1.0 0 ($0.9) $2.6
</TABLE>


































29