Cargill, a Minnesota-based privately held company, posted net earnings of $784M for the second quarter of last year, ending in November 30 by up to 41 percent as compared to only about $556M in the earlier year. Their quarterly revenue fell at eight percent from $32.9B to $30.3B.
Its animal nutrition and protein enterprise as well as its origination and processing unit gained most from the changing prices of commodities including soybeans, corns and wheat, which were all hit multiple year lows during the quarter.
David MacLennan, President and CEO, said that with their top class performance, especially on sectors such as the animal nutrition, meat and agricultural business, they would keep posting positive results to outpace recent quarters with a good profit margin.
In 2014, Canadian growers reaped a two in a row bumper crop to provide domestic processors, biofuel makers, livestock producers and exporters with the most affordable raw materials in the last years while the US farmers harvest their largest ever soybean and corn crops.
The company is a rival of the ABCD companies composed of Archer Daniels Midland, Louis Dreyfus Corp and Bunge Ltd, which rule the worldwide gains business and currently are anticipating a profit bump while grain prices are moderating after several years of high prices.