Cargill getting out of feeding sector
According to Reuters news service, Cargill, Inc., reported that it will no longer feed cattle.
The company, headquartered in Minnesota, agreed to sell its last two feedyards to Green Plains, Inc., a producer of ethanol for $36.7 million. The two feedyards can feed about 155,000 head of cattle total.
The company had sold other feedyards last year.
The company, according to the Reuters story, plans to withdraw permanently from the feeding business, in order to focus on other initiatives including plant-based protein, fish and insects, along with other livestock and poultry opportunities like processing.
The company is currently the world’s largest supplier of ground beef.
Green Plains Inc., will continue to provide cattle for Cargill, said the story.
“Cargill in recent years has refocused its operations by exiting some lower-margin businesses and expanding into higher-margin endeavors such as food ingredients and aquaculture. It sold a U.S. agriculture-retail business to Agrium Inc last year and its U.S. pork assets to Brazilian meatpacker JBS SA in 2015,” said the story.