Processor JBS said on Wednesday that Beijing blocked U.S. beef shipments from the company's plant in Greeley, Colorado, because traces of the feed additive ractopamine were identified in beef destined for China.
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JBS says China blocks beef from US plant over detection of ractopamine
Unclear when tight US cattle supplies will expand, Tyson CEO says
Tyson Foods cannot predict exactly when U.S. ranchers will start rebuilding the cattle herd in a meaningful way, CEO Donnie King said on Wednesday, as tight supplies squeeze the meatpacker's beef business.
JBS says US beef division facing challenges, Seara unit improving
Low cattle supply behind weakness in US division; headwinds expected to continue
Brazilian meat-packer JBS expects margins of its Seara processed foods maker in Brazil to reach double digits in the first weeks of 2024, citing operational improvements designed to shore up the unit, executives said today.
New York sues meatpacking giant JBS over climate claims
Attorney general calls company's emissions goals 'infeasible'
JBS, the world's largest beef producer, was sued on Wednesday by New York state's attorney general, which accused it of misleading the public about its impact on the environment in order to boost sales.
Third-quarter profit plunges for JBS
Low U.S. pork prices, beef margins and global chicken glut cited
Sao Paulo | Reuters — JBS SA, the world’s biggest meatpacker, reported an 86 per cent drop in third-quarter net income compared to a year ago on Monday, sliding to around 573 million reais (C$166.3 million). Net income was under the LSEG consensus forecast of 724 million reais, and far below the whopping four billion-real […] Read more
JBS posts quarterly loss on tight U.S. beef margins
'Greater balance' forecasted for global chicken supply
Sao Paulo | Reuters — Brazilian meat company JBS SA on Monday reported a second-quarter loss citing the negative effects of an oversupplied global chicken market and tighter margins for its beef business in the U.S., where it gets most of its sales. JBS reported a net loss of 263.6 million reais (C$73.8 million), the […] Read more
Brazil’s JBS reboots plan to list shares in New York
International meat packer hopes for access to lower-cost capital
Sao Paulo | Reuters — JBS SA, the world’s largest meat packer, on Wednesday proposed listing its shares in New York, hoping the move will bring its multiples closer to peers and that a broader investor base will give it more access to cheaper capital, sending its shares up eight per cent in mid-morning trade. […] Read more
JBS opens cleaning unit after outside firm fined for hiring kids
Company says has cut ties to cleaning contractor
Chicago | Reuters — JBS USA, one of the biggest U.S. meatpackers, is creating an internal company to clean some of its processing plants after a private sanitation firm it employed was accused of hiring children for dangerous work. The launch shows the complexities involved in replacing Packers Sanitation Services Inc. (PSSI), a firm that […] Read more
JBS to pay US$25 million in latest beef price-fixing settlement
Settlement calls for co-operation in cases against other defendants
Reuters — JBS SA has agreed to pay US$25 million to commercial beef purchasers that accused the meat-packing company of conspiring with industry rivals to restrict market supply in order to keep prices artificially high. The proposed settlement in Minnesota federal court was disclosed on Friday from plaintiffs’ lawyers representing a class of businesses that […] Read more
China agrees to resume imports of Brazilian beef
Beijing authorizes four new Brazilian plants
Beijing/Sao Paulo | Reuters –– Efforts by the Brazilian government to lift a month-long ban on beef exports to China paid off on Thursday, as Beijing agreed to resume imports while also approving four new beef packers based in Brazil, according to authorities in both countries. China’s General Administration of Customs approved the resumption of […] Read more
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