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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
IBP, Inc.
____________________________________________________
(Name of Issuer)
COMMON STOCK
____________________________________________________
(Title of Class of Securities)
449223-10-6
______________________________________________
(CUSIP Number)
D. J. Smith, Vice President, Secretary and General Counsel
Archer-Daniels-Midland Company, 4666 Faries Parkway, P. O.
Box 1470, Decatur, IL 62525, Telephone: (217)424-6183
____________________________________________________________
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 7, 1998
___________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition which is the subject
of this Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box __.
Check the following box if a fee is being paid with the
statement ___. (A fee is not required only if the reporting
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits,
should be filed with the commission. See Rule 13d-1(a) for
other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of Securities, and for any subsequent
amendment containing information which would alter
disclosures provided in a prior cover page.
This information required on the remainder of this cover
page shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that Section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
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SCHEDULE 13D
CUSIP NO. 449223-10-6 Page 2 of 5 Pages
____________________________________________________________
__
1 NAME OF REPORTING PERSON
S. S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Archer-Daniels-Midland Company
I.R.S. Identification No. 41-0129150
____________________________________________________________
_
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (a)__
(b)__
____________________________________________________________
_
3 SEC USE ONLY
____________________________________________________________
_
4 SOURCE OF FUNDS *
WC
____________________________________________________________
_
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(E) X
See Appendix I
____________________________________________________________
_
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
____________________________________________________________
_
|7 SOLE VOTING POWER
NUMBER OF | 11,244,700
SHARES |___________________________________________
BENEFICIALLY |8 SHARED VOTING POWER
OWNED BY | -0-
EACH |___________________________________________
REPORTING |9 SOLE DISPOSITIVE POWER
PERSON | 11,244,700
WITH |___________________________________________
|10 SHARED DISPOSITIVE POWER
| -0-
____________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 11,244,700(Appendix II shows all transactions
within the past sixty (60) days)
____________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW(11)EXCLUDES
CERTAIN SHARES *__
____________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.149 based on 92,559,018 shares outstanding
____________________________________________________________
14 TYPE OF REPORTING PERSON *
CO
____________________________________________________________
* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 449223-10-6 Page 3 of 5
Pages
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this Statement is true, complete and correct.
Dated: May 15, 1998
ARCHER-DANIELS-MIDLAND COMPANY
/s/ D. J. SMITH
By: D. J. Smith
Its Vice President, Secretary
and General Counsel
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CUSIP NO. 449223-10-6 Page 4 of 5
Pages
APPENDIX I
On October 15, 1996, the Company pled guilty to a two
count information in the Northern District of Illinois
pursuant to an agreement with the Department of Justice.
This information states that the Company engaged in
anticompetitive conduct in connection with the sale of
lysine and citric acid. In connection with its agreement
the Company paid the United States a fine of $70 million
with respect to lysine and $30 million with respect to
citric acid.
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CUSIP NO. 449223-10-6 Page 5 of 5
Pages
APPENDIX II
Marketable Securities - Purchase Detail
From: 03/13/98
To: 05/12/98
Trade # of Tran
Date Shares Price
Description: IBP, Inc.
03/24/98 43,400 23.125
03/25/98 50,000 23.000
03/26/98 41,400 22.875
03/26/98 8,600 22.813
03/27/98 48,800 22.750
03/27/98 16,000 22.813
03/30/98 50,000 22.750
03/30/98 50,000 22.625
03/31/98 50,000 22.500
04/03/98 50,000 22.375
04/07/98 50,000 22.250
04/20/98 50,000 22.125
04/21/98 50,000 21.875
04/21/98 58,100 22.000
04/22/98 1,200 21.563
04/22/98 35,000 21.625
04/22/98 50,000 21.750
04/23/98 34,300 21.625
04/23/98 1,800 21.500
04/27/98 100,000 21.500
04/28/98 72,000 21.500
04/28/98 50,000 21.375
04/29/98 78,000 21.125
04/29/98 75,000 21.000
04/29/98 5,000 20.938
04/29/98 20,000 20.875
04/29/98 25,000 20.625
04/29/98 15,000 20.375
04/30/98 20,000 20.625
05/01/98 11,000 20.625
05/04/98 19,000 20.500
05/04/98 29,000 20.375
05/05/98 15,500 20.375
05/06/98 1,100 20.375
05/07/98 54,400 20.375
05/08/98 29,500 20.375
05/11/98 20,500 20.375
05/12/98 50,000 20.250
05/12/98 50,000 20.125
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