Beef and turkey returns drive Cargill profit surge

Global commodities trader Cargill says strong results from its beef and turkey businesses in North USA are the main driver behind its latest sharply higher adjusted quarterly profit.

In the second quarter ended November 30, Cargill’s adjusted operating earnings jumped nearly 80% to $1.03bn (€973m), from $574m (€542m) in the same quarter a year earlier.

“We are energised by these results,” said David MacLennan, chairman and chief executive at Cargill.