[Made in the USA]

Ag demand drives up Cargill profit
Associated Press

WAYZATA, Minn. - Agribusiness conglomerate Cargill said today that its second-quarter profit jumped 44 percent amid strong demand for food commodities.

Cargill said it earned $954 million during the quarter ended Nov. 31, up from $662 million during the same period last year. That brings its first-half earnings to $1.87 billion, up 61 percent from $1.16 billion for the first half of its prior year.

Cargill is one of the world's largest privately held companies and discloses limited quarterly financial information. Cargill makes food ingredients, moves commodities around the world and runs financial commodities trading businesses, and has 158,000 workers in 66 countries. Cargill Meat Solutions is based in Wichita.

"Today we are moving bigger volumes of commodities, through more facilities, at higher utilization rates and over longer distances," Greg Page, Cargill chairman and chief executive, in a statement.

Cargill said four of its five segments saw an increase in second-quarter profits. It said the biggest contribution came from its origination and processing segment, which buys, processes and distributes agricultural commodities. Cargill's industrial segment also benefited from global demand for fertilizers.

Profits also grew in its segments for food ingredients and agricultural services. Profits in its segment for risk management and financial trading were "moderately below" last year's results, the company said.

Poor Cargill is just barely making it! Better cut the hours back some more at Excel!