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RPT-Cargill posts sharp rise in quarterly earnings
August 7, 2013 / 2:07 PM / 4 years ago

RPT-Cargill posts sharp rise in quarterly earnings

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.

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