0001562762-23-000360 | 10-Q | XBRL Viewer

Net Income per Common Share	3 Months Ended
Net Income per Common Share	Sep. 02, 2023
Net Income per Common Share [Abstract]
Net Income per Common Share	Note 6 - Net Income per Common Share Basic net income per share is based on the weighted average Common Stock and Class A Common Stock outstanding. Diluted net income per share is based on weighted-average common shares outstanding during the relevant period adjusted for the dilutive effect of share-based awards. The following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common share (amounts in thousands, except per share data): Thirteen Weeks Ended September 2, 2023 August 27, 2022 Numerator Net income $ 411 $ 125,134 Less: Loss attributable to noncontrolling interest (515) (153) Net income attributable to Cal-Maine Foods, Inc. $ 926 $ 125,287 Denominator Weighted-average common shares outstanding, basic 48,690 48,623 Effect of dilutive restricted shares 150 188 Weighted-average common shares outstanding, diluted 48,840 48,811 Net income per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.02 $ 2.58 Diluted $ 0.02 $ 2.57

Revenue from Contracts with Customer (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 459,344	$ 658,344
Conventional shell egg sales [Member]
Disaggregation of Revenue [Line Items]
Net sales	225,280	425,589
Specialty shell egg sales [Member]
Disaggregation of Revenue [Line Items]
Net sales	208,681	200,820
Egg products [Member]
Disaggregation of Revenue [Line Items]
Net sales	22,223	27,640
Other [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 3,160	$ 4,295

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Equity (Tables)	3 Months Ended
Equity (Tables)	Sep. 02, 2023
Equity [Abstract]
Summary of Equity Activity	Thirteen Weeks Ended September 2, 2023 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at June 3, 2023 $ 703 $ 48 $ (30,008) $ 72,112 $ (2,886) $ 1,571,112 $ (1,498) $ 1,609,583 Other comprehensive income, net of tax — — — — 595 — — 595 Stock compensation plan transactions — — (6) 1,041 — — — 1,035 Dividends ($ 0.006 per share) Common — — — — — (265) — (265) Class A common — — — — — (29) — (29) Net income (loss) — — — — — 926 (515) 411 Balance at September 2, 2023 $ 703 $ 48 $ (30,014) $ 73,153 $ (2,291) $ 1,571,744 $ (2,013) $ 1,611,330 Thirteen Weeks Ended August 27, 2022 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at May 28, 2022 $ 703 $ 48 $ (28,447) $ 67,989 $ (1,596) $ 1,065,854 $ (206) $ 1,104,345 Other comprehensive loss, net of tax — — — — (754) — — (754) Stock compensation plan transactions — — (48) 1,028 — — — 980 Dividends ($ 0.853 per share) Common — — — — — (37,648) — (37,648) Class A common — — — — — (4,094) — (4,094) Net income (loss) — — — — — 125,287 (153) 125,134 Balance at August 27, 2022 $ 703 $ 48 $ (28,495) $ 69,017 $ (2,350) $ 1,149,399 $ (359) $ 1,187,963

Fair Value Measurements (Policy)	3 Months Ended
Fair Value Measurements (Policy)	Sep. 02, 2023
Fair Value Measurements [Abstract]
Fair Value Measurement	The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including: ◦ Quoted prices for similar assets or liabilities in active markets ◦ Quoted prices for identical or similar assets in non-active markets ◦ Inputs other than quoted prices that are observable for the asset or liability ◦ Inputs derived principally from or corroborated by other observable market data • Level 3 - Unobservable inputs for the asset or liability that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities The disclosures of fair value of certain financial assets and liabilities that are recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments.

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 6.1
Weighted average period of unrecognized compensation expense	1 year 10 months 24 days
Stock based compensation expense	$ 1.0	$ 1.0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 02, 2023	Jun. 03, 2023
Current assets:
Cash and cash equivalents	$ 360,343	$ 292,824
Investment securities available-for-sale	249,619	355,090
Trade and other receivables, net	125,363	120,247
Income tax receivable	33,787	66,966
Inventories	280,801	284,418
Prepaid expenses and other current assets	14,145	5,380
Total current assets	1,064,058	1,124,925
Property, plant & equipment, net	752,580	744,540
Investments in unconsolidated entities	13,978	14,449
Goodwill	44,006	44,006
Intangible assets, net	15,347	15,897
Other long-term assets	10,398	10,708
Total Assets	1,900,367	1,954,525
Current liabilities:
Accounts payable and accrued expenses	117,800	137,313
Accrued income taxes payable	8,288	8,288
Dividends payable	294	37,130
Total current liabilities	126,382	182,731
Other noncurrent liabilities	9,930	9,999
Deferred income taxes, net	152,725	152,212
Total liabilities	289,037	344,942
Commitments and contingencies - see Note 9
Stockholders' equity:
Paid-in capital	73,153	72,112
Retained earnings	1,571,744	1,571,112
Accumulated other comprehensive loss, net of tax	(2,291)	(2,886)
Common stock in treasury at cost - 26,078 shares at September 2, 2023 and 26,077 shares at June 3, 2023	(30,014)	(30,008)
Total Cal-Maine Foods, Inc. stockholders' equity	1,613,343	1,611,081
Noncontrolling interest in consolidated entity	(2,013)	(1,498)
Total stockholders' equity	1,611,330	1,609,583
Total Liabilities and Stockholders' Equity	1,900,367	1,954,525
Common Stock [Member]
Stockholders' equity:
Common stock ($0.01 par value):	703	703
Class A Convertible Common Stock [Member]
Stockholders' equity:
Common stock ($0.01 par value):	$ 48	$ 48

Investment Securities (Narrative) (Details) - USD ($)	3 Months Ended
Investment Securities (Narrative) (Details) - USD ($)	Sep. 02, 2023	Aug. 27, 2022	Jun. 03, 2023
Investments Securities [Abstract]
Proceeds from sale of available-for-sale securities, current	$ 135,800,000	$ 20,300,000
Proceeds from sale of available-for-sale securities, noncurrent	0	0
Gross realized gains on sales of available-for-sale securities, current	2,000	2,000
Gross realized losses on sales of available-for-sale securities, current	8,000	$ 27,000
Allowance for credit losses	$ 0		$ 0

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 02, 2023	Jun. 03, 2023
Common Stock [Member]
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	70,261,000	70,261,000
Common stock in treasury (in shares)	26,078,000	26,077,000
Class A Convertible Common Stock [Member]
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	4,800,000	4,800,000
Common stock, shares issued (in shares)	4,800,000	4,800,000

Stock Based Compensation (Summary of Equity Award Activity) (Details)	3 Months Ended
	Sep. 02, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Number of Shares, Outstanding, Beginning Balance (in shares) \| shares	294,140
Number of Shares, Vested (in shares) \| shares	(305)
Number of Shares, Forfeited (in shares) \| shares	(1,329)
Number of Shares, Outstanding, Ending Balance (in shares) \| shares	292,506
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance (in dollars per share) \| $ / shares	$ 43.72
Weighted Average Grant Date Fair Value, Vested (in dollars per share) \| $ / shares	37.70
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) \| $ / shares	44.68
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance (in dollars per share) \| $ / shares	$ 43.72

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Sep. 02, 2023
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 3 - Fair Value Measurements The Company is required to categorize both financial and nonfinancial assets and liabilities based on the following fair value hierarchy. The fair value of an asset is the price at which the asset could be sold in an orderly transaction between unrelated, knowledgeable, and willing parties able to engage in the transaction. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. • Level 1 - Quoted prices in active markets for identical assets or liabilities • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including: ◦ Quoted prices for similar assets or liabilities in active markets ◦ Quoted prices for identical or similar assets in non-active markets ◦ Inputs other than quoted prices that are observable for the asset or liability ◦ Inputs derived principally from or corroborated by other observable market data • Level 3 - Unobservable inputs for the asset or liability that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities The disclosures of fair value of certain financial assets and liabilities that are recorded at cost are as follows: Cash and cash equivalents, accounts receivable, and accounts payable: The carrying amount approximates fair value due to the short maturity of these instruments. Assets and Liabilities Measured at Fair Value on a Recurring Basis In accordance with the fair value hierarchy described above, the following table shows the fair value of financial assets and liabilities measured at fair value on a recurring basis as of September 2, 2023 and June 3, 2023 (in thousands): September 2, 2023 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 7,765 $ — $ 7,765 Commercial paper — 8,898 — 8,898 Corporate bonds — 126,941 — 126,941 Certificates of deposits — 1,117 — 1,117 US government and agency obligations — 94,264 — 94,264 Asset backed securities — 10,634 — 10,634 Mutual funds 2,128 — — 2,128 Total assets measured at fair value $ 2,128 $ 249,619 $ — $ 251,747 June 3, 2023 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,296 $ — $ 16,296 Commercial paper — 56,409 — 56,409 Corporate bonds — 138,577 — 138,577 Certificates of deposits — 675 — 675 US government and agency obligations — 100,769 — 100,769 Asset backed securities — 13,308 — 13,308 Treasury bills — 29,056 — 29,056 Mutual funds 2,081 — — 2,081 Total assets measured at fair value $ 2,081 $ 355,090 $ — $ 357,171 Investment securities – available-for-sale classified as Level 2 consist of securities with maturities of three months or longer when purchased. We classified these securities as current because amounts invested are readily available for current operations. Observable inputs for these securities are yields, credit risks, default rates, and volatility.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Sep. 02, 2023	Jun. 03, 2023
Inventories [Abstract]
Flocks, net of amortization	$ 165,138	$ 164,540
Eggs and egg products	27,604	28,318
Feed and supplies	88,059	91,560
Total inventories	$ 280,801	$ 284,418

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Sep. 02, 2023
Inventories [Abstract]
Schedule of Inventories	September 2, 2023 June 3, 2023 Flocks, net of amortization $ 165,138 $ 164,540 Eggs and egg products 27,604 28,318 Feed and supplies 88,059 91,560 $ 280,801 $ 284,418

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 02, 2023	Oct. 03, 2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 02, 2023
Document Transition Report	false
Entity File Number	001-38695
Entity Registrant Name	CAL-MAINE FOODS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	64-0500378
Entity Address, Address Line One	1052 Highland Colony Pkwy
Entity Address Address Line 2	Suite 200
Entity Address, City or Town	Ridgeland
Entity Address, State or Province	MS
Entity Address, Postal Zip Code	39157
City Area Code	601
Local Phone Number	948-6813
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CALM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--06-01
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000016160
Common Stock [Member]
Entity Common Stock, Shares Outstanding		44,182,613
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		4,800,000

Equity	3 Months Ended
Equity	Sep. 02, 2023
Equity [Abstract]
Equity	Note 5 - Equity The following reflects equity activity for the thirteen weeks ended September 2, 2023 and August 27, 2022 (in thousands): Thirteen Weeks Ended September 2, 2023 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at June 3, 2023 $ 703 $ 48 $ (30,008) $ 72,112 $ (2,886) $ 1,571,112 $ (1,498) $ 1,609,583 Other comprehensive income, net of tax — — — — 595 — — 595 Stock compensation plan transactions — — (6) 1,041 — — — 1,035 Dividends ($ 0.006 per share) Common — — — — — (265) — (265) Class A common — — — — — (29) — (29) Net income (loss) — — — — — 926 (515) 411 Balance at September 2, 2023 $ 703 $ 48 $ (30,014) $ 73,153 $ (2,291) $ 1,571,744 $ (2,013) $ 1,611,330 Thirteen Weeks Ended August 27, 2022 Cal-Maine Foods, Inc. Stockholders Common Stock Class A Treasury Paid In Accum. Other Retained Noncontrolling Amount Amount Amount Capital Comp. Loss Earnings Interest Total Balance at May 28, 2022 $ 703 $ 48 $ (28,447) $ 67,989 $ (1,596) $ 1,065,854 $ (206) $ 1,104,345 Other comprehensive loss, net of tax — — — — (754) — — (754) Stock compensation plan transactions — — (48) 1,028 — — — 980 Dividends ($ 0.853 per share) Common — — — — — (37,648) — (37,648) Class A common — — — — — (4,094) — (4,094) Net income (loss) — — — — — 125,287 (153) 125,134 Balance at August 27, 2022 $ 703 $ 48 $ (28,495) $ 69,017 $ (2,350) $ 1,149,399 $ (359) $ 1,187,963

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Sep. 02, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 9 - Commitments and Contingencies LEGAL PROCEEDINGS State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC On April 23, 2020, the Company and its subsidiary Wharton County Foods, LLC (“WCF”) were named as defendants in State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC, Cause No. 2020-25427, in the District Court of Harris County, Texas. The State of Texas (the “State”) asserted claims based on the Company’s and WCF’s alleged violation of the Texas Deceptive Trade Practices—Consumer Protection Act, Tex. Bus. & Com. Code §§ 17.41-17.63 (“DTPA”). The State claimed that the Company and WCF offered shell eggs at excessive or exorbitant prices during the COVID-19 state of emergency and made misleading statements about shell egg prices. The State sought temporary and permanent injunctions against the Company and WCF to prevent further alleged violations of the DTPA, along with over $ 100,000 in damages. On August 13, 2020, the court granted the defendants’ motion to dismiss the State’s original petition with prejudice. On September 11, 2020, the State filed a notice of appeal, which was assigned to the Texas Court of Appeals for the First District. On August 16, 2022, the appeals court reversed and remanded the case back to the trial court for further proceedings. On October 31, 2022, the Company and WCF appealed the First District Court’s decision to the Supreme Court of Texas. On September 29, 2023, the Supreme Court denied the Company’s Petition for Review so the case will be remanded to the trial court for further proceedings. Management believes the risk of material loss related to this matter to be remote. Bell et al. v. Cal-Maine Foods et al. On April 30, 2020, the Company was named as one of several defendants in Bell et al. v. Cal-Maine Foods et al., Case No. 1:20-cv-461, in the Western District of Texas, Austin Division. The defendants include numerous grocery stores, retailers, producers, and farms. Plaintiffs assert that defendants violated the DTPA by allegedly demanding exorbitant or excessive prices for eggs during the COVID-19 state of emergency. Plaintiffs request certification of a class of all consumers who purchased eggs in Texas sold, distributed, produced, or handled by any of the defendants during the COVID-19 state of emergency. Plaintiffs seek to enjoin the Company and other defendants from selling eggs at a price more than 10% greater than the price of eggs prior to the declaration of the state of emergency and damages in the amount of $ 10,000 per violation, or $ 250,000 for each violation impacting anyone over 65 years old. On December 1, 2020, the Company and certain other defendants filed a motion to dismiss the plaintiffs’ amended class action complaint. The plaintiffs subsequently filed a motion to strike, and the motion to dismiss and related proceedings were referred to a United States magistrate judge. On July 14, 2021, the magistrate judge issued a report and recommendation to the court that the defendants’ motion to dismiss be granted and the case be dismissed without prejudice for lack of subject matter jurisdiction. On September 20, 2021, the court dismissed the case without prejudice. On July 13, 2022, the court denied the plaintiffs’ motion to set aside or amend the judgment to amend their complaint. On March 15, 2022, plaintiffs filed a second suit against the Company and several defendants in Bell et al. v. Cal-Maine Foods et al., Case No. 1:22-cv-246, in the Western District of Texas, Austin Division alleging the same assertions as laid out in the first complaint. On August 12, 2022, the Company and other defendants in the case filed a motion to dismiss the plaintiffs’ class action complaint. On January 9, 2023, the court entered an order and final judgement granting the Company’s motion to dismiss. On February 8, 2023, the plaintiffs appealed the lower court’s judgement to the United States Court of Appeals for the Fifth Circuit, Case No. 23-50112. The parties filed their respective appellate briefs, but the court has not ruled on these submissions. Management believes the risk of material loss related to both matters to be remote. Kraft Foods Global, Inc. et al. v. United Egg Producers, Inc. et al. As previously reported, on September 25, 2008, the Company was named as one of several defendants in numerous antitrust cases involving the United States shell egg industry. The Company settled all of these cases, except for the claims of certain plaintiffs who sought substantial damages allegedly arising from the purchase of egg products (as opposed to shell eggs). These remaining plaintiffs are Kraft Food Global, Inc., General Mills, Inc., and Nestle USA, Inc. (the “Egg Products Plaintiffs”) and, until a subsequent settlement was reached as described below, The Kellogg Company. On September 13, 2019, the case with the Egg Products Plaintiffs was remanded from a multi-district litigation proceeding in the United States District Court for the Eastern District of Pennsylvania, In re Processed Egg Products Antitrust Litigation, MDL No. 2002, to the United States District Court for the Northern District of Illinois, Kraft Foods Global, Inc. et al. v. United Egg Producers, Inc. et al., Case No. 1:11-cv-8808, for trial. The Egg Products Plaintiffs allege that the Company and other defendants violated Section 1 of the Sherman Act, 15. U.S.C. § 1, by agreeing to limit the production of eggs and thereby illegally to raise the prices that plaintiffs paid for processed egg products. In particular, the Egg Products Plaintiffs are attacking certain features of the United Egg Producers animal-welfare guidelines and program used by the Company and many other egg producers. The Egg Products Plaintiffs seek to enjoin the Company and other defendants from engaging in antitrust violations and seek treble money damages. On May 2, 2022, the court set trial for October 24, 2022, but on September 20, 2022, the court cancelled the trial date due to COVID-19 protocols and converted the trial date to a status hearing to reschedule the jury trial. A preliminary pre-trial order was filed by the parties on August 22, 2023, and trial is now set for October 17, 2023. In addition, on October 24, 2019, the Company entered into a confidential settlement agreement with The Kellogg Company dismissing all claims against the Company for an amount that did not have a material impact on the Company’s financial condition or results of operations. On November 11, 2019, a stipulation for dismissal was filed with the court, and on March 28, 2022, the court dismissed the Company with prejudice. The Company intends to continue to defend the remaining case with the Egg Products Plaintiffs as vigorously as possible based on defenses which the Company believes are meritorious and provable. Adjustments, if any, which might result from the resolution of this remaining matter with the Egg Products Plaintiffs have not been reflected in the financial statements. While management believes that there is still a reasonable possibility of a material adverse outcome from the case with the Egg Products Plaintiffs, at the present time, it is not possible to estimate the amount of monetary exposure, if any, to the Company due to a range of factors, including the following, among others: two earlier trials based on substantially the same facts and legal arguments resulted in findings of no conspiracy and/or damages; this trial will be before a different judge and jury in a different court than prior related cases; there are significant factual issues to be resolved; and there are requests for damages other than compensatory damages (i.e., injunction and treble money damages). State of Oklahoma Watershed Pollution Litigation On June 18, 2005, the State of Oklahoma filed suit, in the United States District Court for the Northern District of Oklahoma, against Cal-Maine Foods, Inc. and Tyson Foods, Inc., Cobb-Vantress, Inc., Cargill, Inc., George’s, Inc., Peterson Farms, Inc. and Simmons Foods, Inc., and certain of their affiliates. The State of Oklahoma claims that through the disposal of chicken litter the defendants polluted the Illinois River Watershed. This watershed provides water to eastern Oklahoma. The complaint sought injunctive relief and monetary damages, but the claim for monetary damages was dismissed by the court. Cal-Maine Foods, Inc. discontinued operations in the watershed in or around 2005. Since the litigation began, Cal-Maine Foods, Inc. purchased 100 % of the membership interests of Benton County Foods, LLC, which is an ongoing commercial shell egg operation within the Illinois River Watershed. Benton County Foods, LLC is not a defendant in the litigation. We also have a number of small contract producers that operate in the area. The non-jury trial in the case began in September 2009 and concluded in February 2010. On January 18, 2023, the court entered findings of fact and conclusions of law in favor of the State of Oklahoma, but no penalties were assessed. The court found the defendants liable for state law nuisance, federal common law nuisance, and state law trespass. The court also found the producers vicariously liable for the actions of their contract producers. The court directed the parties to confer in attempt to reach agreement on appropriate remedies. On June 12, 2023, the court ordered the parties to mediate before the Tenth Circuit Chief Judge Deanell Reece Tacha and instructed the parties to file a joint status report 14 days following mediation. While management believes there is a reasonable possibility of a material loss from the case, at the present time, it is not possible to estimate the amount of monetary exposure, if any, to the Company due to a range of factors, including the following, among others: uncertainties inherent in any assessment of potential costs associated with injunctive relief or other penalties based on a decision in a case tried over 13 years ago based on environmental conditions that existed at the time, the lack of guidance from the court as to what might be considered appropriate remedies, the ongoing negotiations and mediation with the State of Oklahoma, and uncertainty regarding what our proportionate share of any remedy would be, although we believe that our share compared to the other defendants is small. Other Matters In addition to the above, the Company is involved in various other claims and litigation incidental to its business. Although the outcome of these matters cannot be determined with certainty, management, upon the advice of counsel, is of the opinion that the final outcome should not have a material effect on the Company’s consolidated results of operations or financial position.

Stock Based Compensation (Tables)	3 Months Ended
Stock Based Compensation (Tables)	Sep. 02, 2023
Stock Based Compensation [Abstract]
Summary of Equity Award Activity	Number of Shares Weighted Average Grant Date Fair Value Outstanding, June 3, 2023 294,140 $ 43.72 Vested (305) 37.70 Forfeited (1,329) 44.68 Outstanding, September 2, 2023 292,506 $ 43.72

Revenue from Contracts with Customers (Tables)	3 Months Ended
Revenue from Contracts with Customers (Tables)	Sep. 02, 2023
Revenue from Contracts with Customers [Abstract]
Disaggregation of Revenue	Thirteen Weeks Ended September 2, 2023 August 27, 2022 Conventional shell egg sales $ 225,280 $ 425,589 Specialty shell egg sales 208,681 200,820 Egg products 22,223 27,640 Other 3,160 4,295 $ 459,344 $ 658,344

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022	Jun. 03, 2023
Summary of Significant Accounting Policies [Abstract]
Fiscal period duration	91 days	91 days
Reserves for credit losses	$ 503		$ 579
Percentage of net income loss used to compute accrued dividends	33.33%

Inventories	3 Months Ended
Inventories	Sep. 02, 2023
Inventories [Abstract]
Inventories	Note 4 - Inventories Inventories consisted of the following as of September 2, 2023 and June 3, 2023 (in thousands): September 2, 2023 June 3, 2023 Flocks, net of amortization $ 165,138 $ 164,540 Eggs and egg products 27,604 28,318 Feed and supplies 88,059 91,560 $ 280,801 $ 284,418 We grow and maintain flocks of layers (mature female chickens), pullets (female chickens, under 18 weeks of age), and breeders (male and female chickens used to produce fertile eggs to hatch for egg production flocks). Our total flock at September 2, 2023 and June 3, 2023 consisted of approximately 10.0 million and 10.8 million pullets and breeders and 41.9 million and 41.2 million layers, respectively.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Sep. 02, 2023
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 - Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements of Cal-Maine Foods, Inc. and its subsidiaries (the “Company,” “we,” “us,” “our”) have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting and should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended June 3, 2023 (the “2023 Annual Report”). These statements reflect all adjustments that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented and, in the opinion of management, consist of adjustments of a normal recurring nature. Operating results for the interim periods are not necessarily indicative of operating results for the entire fiscal year. Fiscal Year The Company’s fiscal year ends on the Saturday closest to May 31. Each of the three-month periods ended on September 2, 2023 and August 27, 2022 included 13 weeks . Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Investment Securities The Company has determined that its debt securities are available-for-sale investments. We classify these securities as current because the amounts invested are available for current operations. Available -for-sale securities are carried at fair value, based on quoted market prices as of the balance sheet date, with unrealized gains and losses recorded in other comprehensive income. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity and is recorded in interest income. The Company regularly evaluates changes to the rating of its debt securities by credit agencies and economic conditions to assess and record any expected credit losses through allowance for credit losses, limited to the amount that fair value was less than the amortized cost basis. Investments in mutual funds are recorded at fair value and are classified as “Other long-term assets” in the Company’s Condensed Consolidated Balance Sheets. Unrealized gains and losses for equity securities are recorded in other income (expenses) as Other, net in the Company’s Condensed Consolidated Statements of Income. The cost basis for realized gains and losses on available-for-sale securities is determined by the specific identification method. Gains and losses are recognized in other income (expenses) as Other, net in the Company’s Condensed Consolidated Statements of Income. Interest and dividends on securities classified as available-for-sale are recorded in interest income. Trade Receivables Trade receivables are stated at their carrying values, which include a reserve for credit losses. As of September 2, 2023 and June 3, 2023, reserves for credit losses were $ 503 thousand and $ 579 thousand, respectively. The Company extends credit to customers based on an evaluation of each customer’s financial condition and credit history. Collateral is generally not required. The Company minimizes exposure to counter party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. In determining our reserve for credit losses, receivables are assigned an expected loss based on historical loss information adjusted as needed for economic and other forward-looking factors. Dividends Payable We accrue dividends at the end of each quarter according to the Company’s dividend policy adopted by its Board of Directors. The Company pays a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which the Company reports net income attributable to Cal-Maine Foods, Inc. computed in accordance with GAAP in an amount equal to one-third ( 1/3 ) of such quarterly income. Dividends are paid to shareholders of record as of the 60th day following the last day of such quarter, except for the fourth fiscal quarter. For the fourth quarter, the Company pays dividends to shareholders of record on the 65th day after the quarter end. Dividends are payable on the 15th day following the record date. Following a quarter for which the Company does not report net income attributable to Cal-Maine Foods, Inc., the Company will not pay a dividend for a subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the most recent quarter for which a dividend was paid. The dividend policy is subject to periodic review by the Board of Directors. New Accounting Pronouncements and Policies No new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our Consolidated Financial Statements.

Investment Securities	3 Months Ended
Investment Securities	Sep. 02, 2023
Investments Securities [Abstract]
Investment Securities	Note 2 - Investment Securities The following represents the Company’s investment securities as of September 2, 2023 and June 3, 2023 (in thousands): September 2, 2023 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 7,915 $ — $ 150 $ 7,765 Commercial paper 8,913 — 15 8,898 Corporate bonds 128,031 — 1,090 126,941 Certificates of deposits 1,125 — 8 1,117 US government and agency obligations 94,584 — 320 94,264 Asset backed securities 10,683 — 49 10,634 Total current investment securities $ 251,251 $ — $ 1,632 $ 249,619 Mutual funds $ 2,181 $ — $ 53 $ 2,128 Total noncurrent investment securities $ 2,181 $ — $ 53 $ 2,128 June 3, 2023 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,571 $ — $ 275 $ 16,296 Commercial paper 56,486 — 77 56,409 Corporate bonds 139,979 — 1,402 138,577 Certificates of deposits 675 — — 675 US government and agency obligations 101,240 — 471 100,769 Asset backed securities 13,459 — 151 13,308 Treasury bills 29,069 — 13 29,056 Total current investment securities $ 357,479 $ — $ 2,389 $ 355,090 Mutual funds $ 2,172 $ — $ 91 $ 2,081 Total noncurrent investment securities $ 2,172 $ — $ 91 $ 2,081 Available-for-sale Proceeds from sales and maturities of investment securities available-for-sale were $ 135.8 million and $ 20.3 million during the thirteen weeks ended September 2, 2023 and August 27, 2022, respectively. Gross realized gains for the thirteen weeks ended September 2, 2023 and August 27, 2022 were $ 2 thousand. Gross realized losses for the thirteen weeks ended September 2, 2023 and August 27, 2022 were $ 8 thousand and $ 27 thousand, respectively. There were no allowances for credit losses at September 2, 2023 and June 3, 2023. Actual maturities may differ from contractual maturities as some borrowers have the right to call or prepay obligations with or without penalties. Contractual maturities of current investments at September 2, 2023 are as follows (in thousands): Estimated Fair Value Within one year $ 175,963 1-5 years 73,656 Total $ 249,619 Noncurrent There were no sales of noncurrent investment securities during the thirteen weeks ended September 2, 2023 and August 27, 2022.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Cash flows from operating activities:
Net income	$ 411	$ 125,134
Depreciation and amortization	19,340	17,312
Deferred income taxes	322	(1,324)
Other adjustments, net	3,612	31,690
Net cash provided by operations	23,685	172,812
Cash flows from investing activities:
Purchases of investment securities	(28,296)	(51,834)
Sales and maturities of investment securities	135,768	20,296
Purchases of property, plant and equipment	(26,666)	(27,662)
Net proceeds from disposal of property, plant and equipment	74	78
Net cash provided by (used in) investing activities	80,880	(59,122)
Cash flows from financing activities:
Payments of dividends	(36,983)	(36,653)
Purchase of common stock by treasury	(5)	(45)
Principal payments on finance lease	(58)	(55)
Net cash used in financing activities	(37,046)	(36,753)
Net change in cash and cash equivalents	67,519	76,937
Cash and cash equivalents at beginning of period	292,824	59,084
Cash and cash equivalents at end of period	$ 360,343	$ 136,021

Subsequent Events (Narrative) (Details) Layers in Millions	Sep. 28, 2023 Layers
Subsequent Event [Member] \| Fassio Egg Farms, Inc. [Member]
Subsequent Event [Line Items]
Layer capacity	1.2

Commitments and Contingencies (Narrative) (Details)		3 Months Ended
Commitments and Contingencies (Narrative) (Details)	Apr. 23, 2020 $ / Claim	Sep. 02, 2023 USD ($)
Benton County Foods [Member]
Loss Contingencies [Line Items]
Ownership interest		100.00%
Pending Litigation \| State of Texas v. Cal-Maine Foods, Inc. d/b/a Wharton; and Wharton County Foods, LLC [Member]
Loss Contingencies [Line Items]
Damages sought \| $		$ 100,000
Pending Litigation \| Bell et al. v. Cal-Maine Foods et al. [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Damages sought per claim	10,000
Pending Litigation \| Bell et al. v. Cal-Maine Foods et al. [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Damages sought per claim	250,000

Investment Securities (Schedule of Investment Securities) (Details) - USD ($) $ in Thousands	Sep. 02, 2023	Jun. 03, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	$ 251,251	$ 357,479
Unrealized Gains, Current	0	0
Unrealized Losses, Current	1,632	2,389
Estimated Fair Value, Current	249,619	355,090
Amortized Cost, Noncurrent	2,181	2,172
Unrealized Gains, Noncurrent	0	0
Unrealized Losses, Noncurrent	53	91
Estimated Fair Value, Noncurrent	2,128	2,081
Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	7,915	16,571
Unrealized Gains, Current	0	0
Unrealized Losses, Current	150	275
Estimated Fair Value, Current	7,765	16,296
Commercial Paper [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	8,913	56,486
Unrealized Gains, Current	0	0
Unrealized Losses, Current	15	77
Estimated Fair Value, Current	8,898	56,409
Corporate Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	128,031	139,979
Unrealized Gains, Current	0	0
Unrealized Losses, Current	1,090	1,402
Estimated Fair Value, Current	126,941	138,577
Certificates of Deposits [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	1,125	675
Unrealized Gains, Current	0	0
Unrealized Losses, Current	8	0
Estimated Fair Value, Current	1,117	675
US Government and Agency Obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	94,584	101,240
Unrealized Gains, Current	0	0
Unrealized Losses, Current	320	471
Estimated Fair Value, Current	94,264	100,769
Asset Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current	10,683	13,459
Unrealized Gains, Current	0	0
Unrealized Losses, Current	49	151
Estimated Fair Value, Current	10,634	13,308
Treasury Bills [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Current		29,069
Unrealized Gains, Current		0
Unrealized Losses, Current		13
Estimated Fair Value, Current		29,056
Mutual Funds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Noncurrent	2,181	2,172
Unrealized Gains, Noncurrent	0	0
Unrealized Losses, Noncurrent	53	91
Estimated Fair Value, Noncurrent	$ 2,128	$ 2,081

Stock Based Compensation	3 Months Ended
Stock Based Compensation	Sep. 02, 2023
Stock Based Compensation [Abstract]
Stock Based Compensation	Note 8 - Stock Based Compensation Total stock-based compensation expense was $ 1.0 million for the thirteen weeks ended September 2, 2023 and August 27, 2022. Unrecognized compensation expense as a result of non-vested shares of restricted stock outstanding under the Amended and Restated 2012 Omnibus Long-Term Incentive Plan at September 2, 2023 of $ 6.1 million will be recorded over a weighted average period of 1.9 years. Refer to Part II Item 8, Notes to Consolidated Financial Statements and Supplementary Data, Note 14 - Stock Compensation Plans in our 2023 Annual Report for further information on our stock compensation plans. The Company’s restricted share activity for the thirteen weeks ended September 2, 2023 follows: Number of Shares Weighted Average Grant Date Fair Value Outstanding, June 3, 2023 294,140 $ 43.72 Vested (305) 37.70 Forfeited (1,329) 44.68 Outstanding, September 2, 2023 292,506 $ 43.72

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Sep. 02, 2023
Fair Value Measurements [Abstract]
Schedule Of Assets Measured At Fair Value On A Recurring Basis	September 2, 2023 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 7,765 $ — $ 7,765 Commercial paper — 8,898 — 8,898 Corporate bonds — 126,941 — 126,941 Certificates of deposits — 1,117 — 1,117 US government and agency obligations — 94,264 — 94,264 Asset backed securities — 10,634 — 10,634 Mutual funds 2,128 — — 2,128 Total assets measured at fair value $ 2,128 $ 249,619 $ — $ 251,747 June 3, 2023 Level 1 Level 2 Level 3 Balance Assets Municipal bonds $ — $ 16,296 $ — $ 16,296 Commercial paper — 56,409 — 56,409 Corporate bonds — 138,577 — 138,577 Certificates of deposits — 675 — 675 US government and agency obligations — 100,769 — 100,769 Asset backed securities — 13,308 — 13,308 Treasury bills — 29,056 — 29,056 Mutual funds 2,081 — — 2,081 Total assets measured at fair value $ 2,081 $ 355,090 $ — $ 357,171

Equity (Summary of Equity Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Beginning balance	$ 1,609,583	$ 1,104,345
Other comprehensive loss, net of tax	595	(754)
Stock compensation plan transactions	1,035	980
Net income (loss)	411	125,134
Ending balance	$ 1,611,330	$ 1,187,963
Dividends per common share (in dollars per share)	$ 0.006	$ 0.853
Common Stock [Member]
Beginning balance	$ 703	$ 703
Ending balance	703	703
Treasury Stock [Member]
Beginning balance	(30,008)	(28,447)
Stock compensation plan transactions	(6)	(48)
Ending balance	(30,014)	(28,495)
Paid In Capital [Member]
Beginning balance	72,112	67,989
Stock compensation plan transactions	1,041	1,028
Ending balance	73,153	69,017
Accum. Other Comp. Loss [Member]
Beginning balance	(2,886)	(1,596)
Other comprehensive loss, net of tax	595	(754)
Ending balance	(2,291)	(2,350)
Retained Earnings [Member]
Beginning balance	1,571,112	1,065,854
Net income (loss)	926	125,287
Ending balance	1,571,744	1,149,399
Noncontrolling Interest [Member]
Beginning balance	(1,498)	(206)
Net income (loss)	(515)	(153)
Ending balance	(2,013)	(359)
Common Stock [Member]
Dividends	(265)	(37,648)
Common Stock [Member] \| Retained Earnings [Member]
Dividends	(265)	(37,648)
Class A Common Stock [Member]
Dividends	(29)	(4,094)
Class A Common Stock [Member] \| Common Stock [Member]
Beginning balance	48	48
Ending balance	48	48
Class A Common Stock [Member] \| Retained Earnings [Member]
Dividends	$ (29)	$ (4,094)

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Condensed Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 411	$ 125,134
Other comprehensive income (loss), before tax:
Unrealized holding gain (loss) on available-for-sale securities, net of reclassification adjustments	786	(997)
Income tax benefit (expense) related to items of other comprehensive income	(191)	243
Other comprehensive Income (loss), net of tax	595	(754)
Comprehensive income	1,006	124,380
Less: Comprehensive loss attributable to the noncontrolling interest	(515)	(153)
Comprehensive income attributable to Cal-Maine Foods, Inc.	$ 1,521	$ 124,533

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Condensed Consolidated Statements of Income [Abstract]
Net sales	$ 459,344	$ 658,344
Cost of sales	413,911	440,854
Gross profit	45,433	217,490
Selling, general and administrative	52,246	53,607
(Gain) loss on disposal of fixed assets	(56)	33
Operating income (loss)	(6,757)	163,850
Other income (expense):
Interest income, net	7,346	903
Royalty income	349	428
Equity income (loss) of unconsolidated entities	(470)	144
Other, net	265	155
Total other income, net	7,490	1,630
Income before income taxes	733	165,480
Income tax expense	322	40,346
Net income	411	125,134
Less: Loss attributable to noncontrolling interest	(515)	(153)
Net income attributable to Cal-Maine Foods, Inc.	$ 926	$ 125,287
Net income per common share:
Basic (in dollars per share)	$ 0.02	$ 2.58
Diluted (in dollars per share)	$ 0.02	$ 2.57
Weighted average shares outstanding:
Basic (in shares)	48,690	48,623
Diluted (in shares)	48,840	48,811

Investment Securities (Tables)	3 Months Ended
Investment Securities (Tables)	Sep. 02, 2023
Investments Securities [Abstract]
Schedule Of Investment Securities	September 2, 2023 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 7,915 $ — $ 150 $ 7,765 Commercial paper 8,913 — 15 8,898 Corporate bonds 128,031 — 1,090 126,941 Certificates of deposits 1,125 — 8 1,117 US government and agency obligations 94,584 — 320 94,264 Asset backed securities 10,683 — 49 10,634 Total current investment securities $ 251,251 $ — $ 1,632 $ 249,619 Mutual funds $ 2,181 $ — $ 53 $ 2,128 Total noncurrent investment securities $ 2,181 $ — $ 53 $ 2,128 June 3, 2023 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Municipal bonds $ 16,571 $ — $ 275 $ 16,296 Commercial paper 56,486 — 77 56,409 Corporate bonds 139,979 — 1,402 138,577 Certificates of deposits 675 — — 675 US government and agency obligations 101,240 — 471 100,769 Asset backed securities 13,459 — 151 13,308 Treasury bills 29,069 — 13 29,056 Total current investment securities $ 357,479 $ — $ 2,389 $ 355,090 Mutual funds $ 2,172 $ — $ 91 $ 2,081 Total noncurrent investment securities $ 2,172 $ — $ 91 $ 2,081
Schedule Of Contractual Maturities Of Investment Securities	Estimated Fair Value Within one year $ 175,963 1-5 years 73,656 Total $ 249,619

Net Income per Common Share (Computation of Basic and Diluted Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 02, 2023	Aug. 27, 2022
Net Income per Common Share [Abstract]
Net income	$ 411	$ 125,134
Less: Loss attributable to noncontrolling interest	(515)	(153)
Net income attributable to Cal-Maine Foods, Inc.	$ 926	$ 125,287
Denominator
Weighted-average common shares outstanding, basic (in shares)	48,690	48,623
Effect of dilutive restricted shares (in shares)	150	188
Weighted-average common shares outstanding, diluted (in shares)	48,840	48,811
Net income per common share attributable to Cal-Maine Foods, Inc.
Basic (in dollars per share)	$ 0.02	$ 2.58
Diluted (in dollars per share)	$ 0.02	$ 2.57

Revenue from Contracts with Customers	3 Months Ended
Revenue from Contracts with Customers	Sep. 02, 2023
Revenue from Contracts with Customers [Abstract]
Revenue from Contracts with Customers	Note 7 - Revenue from Contracts with Customers Satisfaction of Performance Obligation The vast majority of the Company’s revenue is derived from agreements with customers based on the customer placing an order for products. Pricing for the most part is determined when the Company and the customer agree upon the specific order, which establishes the contract for that order. Revenues are recognized in an amount that reflects the net consideration we expect to receive in exchange for the goods. Our shell eggs are sold at prices related to independently quoted wholesale market prices or formulas related to our costs of production. The Company’s sales predominantly contain a single performance obligation. We recognize revenue upon satisfaction of the performance obligation with the customer which typically occurs within days of the Company and the customer agreeing upon the order. Returns and Refunds Some of our contracts include a guaranteed sale clause, pursuant to which we credit the customer’s account for product that the customer is unable to sell before expiration. The Company records an allowance for expected customer returns using historical return data and comparing to current period sales and accounts receivable. The allowance is recorded as a reduction of sales in the same period the revenue is recognized. Sales Incentives Provided to Customers The Company periodically provides incentive offers to its customers to encourage purchases. Such offers include current discount offers (e.g., percentage discounts off current purchases), inducement offers (e.g., offers for future discounts subject to a minimum current purchase), and other similar offers. Current discount offers, when accepted by customers, are treated as a reduction to the sales price of the related transaction, while inducement offers, when accepted by customers, are treated as a reduction to sales price based on estimated future redemption rates. Redemption rates are estimated using the Company’s historical experience for similar inducement offers. Current discount and inducement offers are presented as a net amount in ‘‘Net sales.’’ Disaggregation of Revenue The following table provides revenue disaggregated by product category (in thousands): Thirteen Weeks Ended September 2, 2023 August 27, 2022 Conventional shell egg sales $ 225,280 $ 425,589 Specialty shell egg sales 208,681 200,820 Egg products 22,223 27,640 Other 3,160 4,295 $ 459,344 $ 658,344 Contract Costs The Company can incur costs to obtain or fulfill a contract with a customer. If the amortization period of these costs is less than one year, they are expensed as incurred. When the amortization period is greater than one year, a contract asset is recognized and is amortized over the contract life as a reduction in net sales. As of September 2, 2023 and June 3, 2023, the balance for contract assets was immaterial. Contract Balances The Company receives payment from customers based on specified terms that are generally less than 30 days from delivery. There are rarely contract assets or liabilities related to performance under the contract.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Summary of Significant Accounting Policies (Policy)	3 Months Ended
Summary of Significant Accounting Policies (Policy)	Sep. 02, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements of Cal-Maine Foods, Inc. and its subsidiaries (the “Company,” “we,” “us,” “our”) have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting and should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended June 3, 2023 (the “2023 Annual Report”). These statements reflect all adjustments that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented and, in the opinion of management, consist of adjustments of a normal recurring nature. Operating results for the interim periods are not necessarily indicative of operating results for the entire fiscal year.
Fiscal Year	Fiscal Year The Company’s fiscal year ends on the Saturday closest to May 31. Each of the three-month periods ended on September 2, 2023 and August 27, 2022 included 13 weeks
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Investment Securities	Investment Securities The Company has determined that its debt securities are available-for-sale investments. We classify these securities as current because the amounts invested are available for current operations. Available -for-sale securities are carried at fair value, based on quoted market prices as of the balance sheet date, with unrealized gains and losses recorded in other comprehensive income. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity and is recorded in interest income. The Company regularly evaluates changes to the rating of its debt securities by credit agencies and economic conditions to assess and record any expected credit losses through allowance for credit losses, limited to the amount that fair value was less than the amortized cost basis. Investments in mutual funds are recorded at fair value and are classified as “Other long-term assets” in the Company’s Condensed Consolidated Balance Sheets. Unrealized gains and losses for equity securities are recorded in other income (expenses) as Other, net in the Company’s Condensed Consolidated Statements of Income. The cost basis for realized gains and losses on available-for-sale securities is determined by the specific identification method. Gains and losses are recognized in other income (expenses) as Other, net in the Company’s Condensed Consolidated Statements of Income. Interest and dividends on securities classified as available-for-sale are recorded in interest income.
Trade Receivables	Trade Receivables Trade receivables are stated at their carrying values, which include a reserve for credit losses. As of September 2, 2023 and June 3, 2023, reserves for credit losses were $ 503 thousand and $ 579 thousand, respectively. The Company extends credit to customers based on an evaluation of each customer’s financial condition and credit history. Collateral is generally not required. The Company minimizes exposure to counter party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. In determining our reserve for credit losses, receivables are assigned an expected loss based on historical loss information adjusted as needed for economic and other forward-looking factors.
Dividends Payable	Dividends Payable We accrue dividends at the end of each quarter according to the Company’s dividend policy adopted by its Board of Directors. The Company pays a dividend to shareholders of its Common Stock and Class A Common Stock on a quarterly basis for each quarter for which the Company reports net income attributable to Cal-Maine Foods, Inc. computed in accordance with GAAP in an amount equal to one-third ( 1/3 ) of such quarterly income. Dividends are paid to shareholders of record as of the 60th day following the last day of such quarter, except for the fourth fiscal quarter. For the fourth quarter, the Company pays dividends to shareholders of record on the 65th day after the quarter end. Dividends are payable on the 15th day following the record date. Following a quarter for which the Company does not report net income attributable to Cal-Maine Foods, Inc., the Company will not pay a dividend for a subsequent profitable quarter until the Company is profitable on a cumulative basis computed from the date of the most recent quarter for which a dividend was paid. The dividend policy is subject to periodic review by the Board of Directors.
New Accounting Pronouncements and Policies	New Accounting Pronouncements and Policies No new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on our Consolidated Financial Statements.

Subsequent Events	3 Months Ended
Subsequent Events	Sep. 02, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 10 - Subsequent Events Effective on September 28, 2023, the Company entered into a definitive agreement to acquire substantially all the assets of Fassio Egg Farms, Inc. (“Fassio”), related to its commercial shell egg production and processing business. The assets to be acquired, subject to the completion of this transaction, include commercial shell egg production and processing facilities with a current capacity of approximately 1.2 million laying hens, primarily cage-free, a feed mill, pullets, a fertilizer production and composting operation and land located in Erda, Utah, outside Salt Lake City.

Investment Securities (Schedule of Contractual Maturities of Investment Securities) (Details) - USD ($) $ in Thousands	Sep. 02, 2023	Jun. 03, 2023
Investments Securities [Abstract]
Within one year	$ 175,963
1-5 years	73,656
Total	$ 249,619	$ 355,090

Inventories (Narrative) (Details) pullet_and_breeder in Millions, Layers in Millions, $ in Millions	Sep. 02, 2023 Layers pullet_and_breeder	Jun. 03, 2023 USD ($)
Inventories [Abstract]
Pullets and breeders	10.0	10.8
Layers	41.9	41.2

Net Income per Common Share (Tables)	3 Months Ended
Net Income per Common Share (Tables)	Sep. 02, 2023
Net Income per Common Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	Thirteen Weeks Ended September 2, 2023 August 27, 2022 Numerator Net income $ 411 $ 125,134 Less: Loss attributable to noncontrolling interest (515) (153) Net income attributable to Cal-Maine Foods, Inc. $ 926 $ 125,287 Denominator Weighted-average common shares outstanding, basic 48,690 48,623 Effect of dilutive restricted shares 150 188 Weighted-average common shares outstanding, diluted 48,840 48,811 Net income per common share attributable to Cal-Maine Foods, Inc. Basic $ 0.02 $ 2.58 Diluted $ 0.02 $ 2.57

Fair Value Measurements (Schedule of Assets Measured at Fair Value on A Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 02, 2023	Jun. 03, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 251,747	$ 357,171
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	2,128	2,081
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	249,619	355,090
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Municipal Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	7,765	16,296
Municipal Bonds [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Municipal Bonds [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	7,765	16,296
Municipal Bonds [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	8,898	56,409
Commercial Paper [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Commercial Paper [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	8,898	56,409
Commercial Paper [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	126,941	138,577
Corporate Bonds [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Corporate Bonds [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	126,941	138,577
Corporate Bonds [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Certificates of Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	126,941	675
Certificates of Deposits [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Certificates of Deposits [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	126,941	675
Certificates of Deposits [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
US Government and Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	94,264	100,769
US Government and Agency Obligations [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
US Government and Agency Obligations [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	94,264	100,769
US Government and Agency Obligations [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Asset Backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	10,634	13,308
Asset Backed Securities [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Asset Backed Securities [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	10,634	13,308
Asset Backed Securities [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Treasury Bills [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		29,056
Treasury Bills [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		0
Treasury Bills [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		29,056
Treasury Bills [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		0
Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	2,128	2,081
Mutual Funds [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	2,128	2,081
Mutual Funds [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	0	0
Mutual Funds [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 0	$ 0