RPT-Cargill posts sharp rise in quarterly earnings

Wed Aug 7, 2013 10:02am EDT

CHICAGO Aug 7 (Reuters) - U.S. agribusiness giant Cargill reported a sharp rise in quarterly earnings on Wednesday, led by its grain business.

Minneapolis-based Cargill, one of the world's largest privately held corporations and a top commodities trader, reported $483 million in earnings for the fourth quarter ended May 31, up from $73 million a year earlier.

While most of Cargill's units were profitable, earnings at its animal protein business were down from last year, largely hurt by high feed costs and the tightest U.S. cattle supply in 60 years.