FORM 4

      Check this box if no longer subject to Section 16.  Form 4 or Form 5 obligations may continue.
See Instruction 1(b).

(Print or Type Responses)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the
Investment Company Act of 1940

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 1. Name and Address of Reporting Person *

(Last)            (First)              (Middle)

(Street)

(City)       (State)          (Zip)

 2. Issuer Name and Ticker
    or Trading Symbol

Hormel Foods Corporation
HRL

 3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)

 4. Statement for
 (Month/Day/Year)

December 27, 2002

 5. If Amendment, Date of
   Original (Month/Day/Year)

 6. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

      Director

      10% Owner

  X   Officer (give title below)

      Other (specify below)

Vice President

 7. Individual or Joint/Group
     Filing (Check Applicable Line)

  X   Form filed by One Reporting Person

      Form filed by More than One Reporting Person

1. Title of Security
(Instr. 3)

2. Transaction Date (Month/Day/
Year)

2A. Deemed Execution Date, if any (Month/Day/
Year)

3. Transaction Code
(Instr. 8)

4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)

6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)

7. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Stock

339

I

Founders Fund

Common Stock

3,818

I

401(k) Trust

Common Stock

12,439

I

JEPST Trust

Common Stock

12-27-02

M

11,000

A

$11.75

Common Stock

12-27-02

F

7,326

D

$22.87

11,000

D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date
(Month/Day/
Year)

3A. Deemed Execution Date, if any (Month/Day/
Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Securities: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

V

(A)

(D)

Date
Exercisable

Expiration
Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$22.35

(1)

12-2-12

Common Stock

10,000

10,000

D

Stock Options (Right to Buy)

$11.75

12-27-02

M

11,000

1-13-03

Common Stock

20,000

0

D

Stock Options (Right to Buy)

$10.25

1-25-04

4,500

D

Stock Options (Right to Buy)

$12.375

1-11-05

12,000

D

Stock Options (Right to Buy)

$11.9375

11-21-05

20,000

D

Stock Options (Right to Buy)

$14.65625

12-18-07

14,000

D

Stock Options (Right to Buy)

$15.90625

12-23-08

14,000

D

Stock Options (Right to Buy)

$19.25

1-26-10

10,000

D

Stock Options (Right to Buy)

$17.6875

12-6-10

10,000

D

Stock Options (Right to Buy)

$26.09

1-17-12

10,000

D

Explanation of Responses:

(1) The option vests 25% on 12-2-03 and 25% each year thereafter.

** Signature of Reporting Person

Date