Chicago | Reuters — U.S. livestock futures tumbled on Monday on worries about declining U.S. meat processing capacity after Smithfield Foods announced Sunday it would indefinitely shut one of its pork plants due to novel coronavirus infections among workers. The closure at Sioux Falls, S.D., affecting four to five per cent of U.S. pork production, […] Read more
Tag Archives jbs — page 9
U.S. livestock: June hogs, cattle plunge limit down
COVID-19 shuts more U.S. meat processors
JBS sees steady trade flows but flags export woes
Sao Paulo | Reuters — Brazil’s JBS, the world’s largest meatpacker, has said the COVID-19 coronavirus epidemic could cause container shortages, port disruptions and other logistics issues, but said trade flows should stay strong thanks to Chinese demand. In a conference call to discuss earnings results on Thursday, JBS executives said its export operations had […] Read more
A+W starts move to all-grass-fed, all-Canadian beef
Suppliers lined up to begin transition this spring
Canadian burger chain A+W’s next move to distinguish its menu in a crowded quick-service market will be a connection to the regenerative ag movement, as it sets itself up with an all-Canadian and all-grass-fed beef supply. The Vancouver-based chain, which includes almost 1,000 restaurants across Canada, announced Monday it’s “making a commitment to exclusively source […] Read more
JBS plans U.S. listing as Brazil state bank sells stake
Sao Paulo | Reuters — Brazilian meatpacker JBS SA and state development bank BNDES are planning a simultaneous listing of JBS international operations in the United States and the sale of the bank’s stake in the company, five sources with knowledge of the matter said. Sources close to the company say JBS is working on […] Read more
JBS to buy U.S. meat processor Empire Packing
The U.S. arm of Brazilian meat packing giant JBS plans to expand its footprint in case-ready further processing with a deal for Memphis-based Empire Packing. Empire operates meat and poultry processing plants in its home town of Memphis as well as in Cincinatti, Denver, Olympia, Wash. and Mason, Ohio. It also makes the Ledbetter line […] Read more
How JBS became collateral damage in a war between billionaires
JBS now plans to tweak U.S. IPO, executive says
Sao Paulo | Reuters — A business dispute between the disgraced billionaire Batista brothers in Brazil and the heir to an Indonesian pulp and paper fortune is throwing a wrench in meatpacker JBS SA’s plans to for a U.S. listing of its international operations, such as its Canadian beef plant. The dispute stems from a […] Read more
Coronavirus disrupts China meat imports, food supplies
Swine fever has created pork shortage
Chicago | Reuters — Coronavirus is disrupting meat shipments to China as the country faces a shortage due to an outbreak of a fatal pig disease, Tyson Foods Inc and U.S. agricultural groups said on Thursday. An outbreak of African swine fever, which infects only pigs, has decimated China’s herd, pushing Chinese pork prices to […] Read more
Chinese meat packing giant locks in JBS supply
The world’s biggest pork packer is poised to source additional beef, poultry and pork from the world’s biggest meat packing firm. Brazil’s JBS announced Monday it has signed a memorandum of understanding with Hong Kong-based WH Group for “supply and distribution of fresh beef, poultry and pork to the Chinese market” starting in the first […] Read more
JBS says U.S. IPO would not change headquarters
Sao Paulo | Reuters — Brazilian meatpacker JBS SA said in a securities filing late on Friday the company is considering a U.S. listing of its international assets but not a change of its headquarters. The company said it expects to have a capital structure that allows it to compete “on equal footing” with international […] Read more
Tyson bans ractopamine from its U.S. hog supply
Reuters — Tyson Foods in February will stop buying U.S. hogs raised with a growth drug banned by China, the company said on Thursday, as global meat suppliers seek an edge in boosting sales to Chinese buyers facing a huge pork shortage due to an outbreak of a fatal pig disease. The halt in the […] Read more
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