Reading Time: 2 minutes Reuters — Grains trader Cargill reported a nearly five per cent rise in quarterly profit on Thursday as global demand for beef and improved oilseed crushing results offset challenges in several business units. But Cargill also faced various headwinds across the company — particularly in its protein and food ingredients units, both of which have […] Read more
Beef demand, crush margins boost Cargill’s Q1 ledger
Florence shuts down U.S. slaughterhouses
Reading Time: 3 minutes Chicago/Los Angeles | Reuters — U.S. food companies kept slaughter plants shut on Monday in southeastern states swamped by Hurricane Florence as flash floods collapsed the walls of at least two hog manure pits, made roads undriveable and delayed rail shipments. Catastrophic flooding from Hurricane Florence, which has dumped up to 36 inches of rain […] Read more
Coop federee buys into Ontario feed sector
Reading Time: 2 minutes Fresh off its recent investment in the Prairie livestock feed business, Quebec ag co-operative giant La Coop federee is headed down a similar path in southwestern Ontario. The co-operative announced Monday it will pay an undisclosed sum for a 50 per cent stake in W-S Feed and Supply, based at Tavistock, Ont., about 30 km […] Read more
Beef, eggs, feed fatten Cargill’s profits
Reading Time: 2 minutes Chicago | Reuters — Strong global demand for beef and animal feed fattened grain trader Cargill’s profits in fiscal year 2018, which were also boosted by trade tensions and South American weather woes, the company said on Thursday. For the full year, adjusted operating earnings reached $3.2 billion, up six per cent from fiscal 2017 […] Read more
Pulse weekly outlook: Processing boom to help in long run
Reading Time: 2 minutes CNS Canada — Even with one new pulse processing plant on line in Western Canada and more on the way, producers will still have to wait before these new ventures have a significant effect on marketing of their pulse crops. Numerous pulse processing plants have been announced in the last year. French company Roquette broke […] Read more
Cargill upgrading rail loading at Lethbridge
Reading Time: < 1 minute Agrifood firm Cargill is reworking the site layout and expanding its rail loading capacity at its grain elevator in the Lethbridge city limits. The company recently announced a $20 million project to “more than double” the loading capacity at the Lethbridge elevator, from 56 to 134 cars. “The industry standard for rail capacity is increasing, […] Read more
Trade rows spell gain, and pain, for U.S. grain exporters
Reading Time: 2 minutes Chicago | Reuters — Global grain marketers have seized upon trade tensions between the United States and several of its top export markets, including China, to turn around struggling trading units following one of the toughest years ever for the industry. After five years of bumper harvests worldwide that depressed crop prices, trading margins are […] Read more
U.S. livestock: CME live cattle sag despite fundamentals
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle nearby contracts on Wednesday were weakened by funds that sold, or “rolled,” June positions into back months ahead of similar moves early next week, said traders. Nearby market losses trumped futures’ bullish discount to cash prices, strong wholesale beef values and triple-digit beef packer profits. June […] Read more
Cargill to replace chicken plant’s stunning system
Reading Time: 2 minutes Agrifood firm Cargill has budgeted $22 million to swap out an electric stunning system at its London, Ont. chicken processing plant in favour of a new controlled atmospheric stunning (CAS) system. The CAS system, expected to be up and running this spring, “will help reduce handling stress with chickens, resulting in a higher-quality, more consistent […] Read more
Cargill selling Ontario grain, inputs businesses
Reading Time: 3 minutes Quebec agrifood co-operative La Coop federee is set to stake a larger claim in Ontario’s grain and crop input sector with a deal for Cargill’s assets there. Cargill’s Winnipeg-based Canadian arm announced Thursday it will sell its Ontario grain and crop input outlets and its joint-venture stake in South West Ag Partners to La Coop […] Read more
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