The largest private company in the USA, Cargill Inc., whose product offer spans crude oil trading to meat processing, has reported net earnings of $504 million for the 2006 first quarter ended August 31, up 2% from $495 million a year ago.
The company’s first-quarter earnings were led by its risk management and financial segment, especially value investing activities. Other large contributors included the origination and processing segment, which connects users and producers of grains, oilseeds, sugar and other commodities, and its animal nutrition, poultry processing and corn-based sweeteners businesses.

Cargill completed its purchase of the processing and related assets of Ontario-based Better Beef in early September. It is being integrated into Cargill’s meat solutions business, which serves both domestic and international markets.

We are pleased with Cargill’s strong start to the new fiscal year,” said Warren Staley, Cargill chairman and chief executive officer. Given the volatility in many of the markets in which we participate, it was a solid beginning to what promises to be a challenging year.”

Cargill employs some 120,000 staff around the globe.