Cargill to exit cattle feeding business

Cargill last week announced it will exit the cattle feeding business by selling its last two feedyards for $36.7 million to ethanol producer Green Plains.

Omaha-based Green Plains, which has three ethanol plants in Iowa, produces approximately 1.5 billion gallons of ethanol and 4.1 million tons of distillers grains annually at its 17 ethanol plants.

Cargill,...