Larger herd and higher demand drive Cargill growth - leatherbiz: Leadi Leatherbiz

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Larger herd and higher demand drive Cargill growth

05/10/2016
US beef and cattle group Cargill reported a 66% increase in its profits during the first quarter of the 2016/2017 fiscal year, which ended on August 31.

Net income for the period was $852 million, up from $512 million the previous year. This growth was driven by higher cattle volumes at its slaughterhouses and increased demand for beef. Sales fell slightly from $27.5 billion to $27.1 billion.

Cargill said the strong profit in the quarter was led by “sharply” higher earnings in its animal nutrition and protein business, in which beef operations was the biggest driver of growth.

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