Cargill Revenue Hits Four-Year Low as Crop and Cattle Pressures Mount

Cargill Inc. reported revenue of $154 billion for the year ended 31 May, down about 4 % from the previous fiscal year and the company’s weakest top line since 2021, according to its newly released annual report. The Minneapolis-based agribusiness said sliding crop prices and the smallest U.S. cattle herd in more than seven decades have weighed on sales and profit margins. Higher cattle prices, stemming from drought-driven herd reductions, are expected to push U.S. beef output to its lowest since 2016, squeezing processors such as Cargill. Chief Executive Officer Brian Sikes said the company is in the midst of a multiyear restructuring designed to “simplify and modernize” operations. Over the past year Cargill has consolidated its structure to three business units from five and cut roughly 8,000 jobs. The company also agreed in July to sell its Malaysian animal-feed unit for 231 million ringgit ($54 million) and has made a binding offer to acquire Brazilian feed producer Mig-Plus as it reshapes its portfolio.