Cargill sees improving results in animal protein business

The firm said its quarterly results were affected by "external events", despite operational improvements being seen in key businesses, including Animal Nutrition & Protein. It experienced a trading loss due to an "unprecedented price spike in US power markets in late January" , the rejection of certain US corn shipments to China; and weather-related disruptions to railway services in North America, said David MacLennan, president and chief executive of Cargill. He continued: "Our animal protein results are much improved from last year and, with 2012’s acquisition of Provimi, our global animal nutrition operations are on a record pace for the year." These were also boosted by improved volumes and an effective sales mix, he said. "Animal protein results were lifted by increased operating efficiencies and by exports in US and Australian beef," he added.

Cargill sees improving results in animal protein business

Cargill has reported a drop in net profit of 28% from $319 million in the third quarter to 28 February 2014, despite revenue holding steady at $32bn.

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