US agribusiness Cargill has reported a 20% YoY drop in its fiscal year Q2 earnings to $741m, while revenue fell 4% to $28bn, as trade tensions, China's challenging hog sector and the depressed US dairy business hurt profits. The company said it was "disappointed" by the outcome of talks between President Donald Trump and Chinese leader Grains trader Cargill Inc on Thursday reported a 20 percent drop in its fiscal second-quarter 2019 net earnings, as global trade tensions hit the bottom line along with challenges in the Chinese hog sector and a struggling U.S. dairy business. Moreover, Cargill benefited from low soyabean prices and increased global demand for soyameal.
US agribusiness Cargill has reported a 20% YoY drop in its fiscal year Q2 earnings to $741m, while revenue fell 4% to $28bn, as trade tensions, China's challenging hog sector and the depressed US dairy business hurt profits. The company said it was "disappointed" by the outcome of talks between President Donald Trump and Chinese leader Moreover, Cargill benefited from low soyabean prices and increased global demand for soyameal.