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Cargill announces first quarter profits

Cargill credits its Animal Nutrition and Protein segment for higher first quarter sales and earnings this year.

The nation’s largest privately held corporation says profitability was led by improving beef business resulting from increased cattle supplies and renewed consumer demand for beef.

Cargill’s global group of poultry businesses delivered positive returns over the prior year, and animal nutrition also contributed to an overall 35 percent increase in sales and 66 percent jump in adjusted operating earnings.

The company has been restructuring its protein portfolio, with the recent purchase of Texas-based Five Star Custom Foods.

Earlier this year, Cargill sold two cattle yards in the Texas Panhandle to Friona Industries, which already supplies a significant amount of fed cattle to Cargill.