Dive Brief:

• It's official: Cargill Cattle Feeders LLC's Lockney, TX, feed yard now belongs to Lofton Trust, which is located in California. Cargill had previously revealed its plans to shutter Lockney in 2013 in conjunction with the closure of another of Cargill's beef processing sites.
• This means that 20 jobs are safe. The feed yard can handle 60,000 cattle.
• The deal's terms haven't been released.

Dive Insight:

"We were dismayed about the prospect of Lockney closing in the wake of the Plainview beef plant shutting down, so being able to keep the feed yard viable is a wonderful feeling," said Todd Allen, Cargill Cattle Feeders' president in a news release.  "We are confident the Lofton Trust will work hard to maintain its ongoing success."

It appears this was an appropriate match for both parties.

In other recent Cargill news, it is axing 118 jobs with the relocation of one of its plants and saw a 41% earnings spike in Q2 from the previous time last year.