Reading Time: 2 minutes The remaining feedlots in meat packing giant JBS’s Five Rivers Cattle Feeding business, the world’s biggest cattle feeding operation, have found a buyer. JBS on Wednesday announced a deal to sell the U.S.-based assets of Five Rivers to affiliates of New York-based Pinnacle Asset Management for about US$200 million. The deal gives Pinnacle 11 feedlots […] Read more
JBS to shed U.S. feedlot chain
JBS says listing of U.S. unit remains priority
Reading Time: 2 minutes Sao Paulo | Reuters — Brazilian meatpacker JBS SA said listing a subsidiary in the U.S. remained a priority, even as two controlling shareholders in the company remain in jail for insider trading and their role in a corruption scandal. The long-planned initial public offering of its processed food subsidiary JBS Foods International BV was […] Read more
JBS still seeks U.S. unit IPO
Reading Time: 2 minutes Sao Paulo | Reuters — JBS SA will proceed with plans to list a U.S.-based unit when market conditions allow, as the world’s No. 1 meatpacker wrestles with a shareholder revolt over the role of the controlling Batista family in a massive graft scandal. In a Tuesday conference call to discuss second-quarter results, CEO Wesley […] Read more
Nilsson Bros. to buy back JBS feedlot for $50 million
Reading Time: 2 minutes Scandal-plagued Brazilian meat packing giant JBS’s plans to sell off non-core assets will see its major cattle feedlot in southern Alberta sold back to its previous owner. JBS USA announced Friday its JBS Food Canada arm has reached a deal to sell Lakeside Feeders, its cattle feedlot and “adjacent farmland” at Brooks, Alta. for $50 […] Read more
U.S. livestock: Cattle settle mostly lower on technical selling
Reading Time: < 1 minute Chicago | Reuters — U.S. live cattle and feeder cattle futures were mostly lower in a technical selloff on Tuesday, with each declining to the lowest levels in about two months before trimming losses. Broad selling in many commodities, led by crude oil, further weighed on cattle at the Chicago Mercantile Exchange. “We had a […] Read more
JBS aims to shed Alberta feedlot in divestment plan
Reading Time: 2 minutes Sao Paulo/Chicago | Reuters — Brazilian meatpacker JBS SA revealed a major divestment plan Tuesday, putting its Alberta cattle feeding assets and others on the block to cut debt after a corruption scandal raised concerns about its financing costs. JBS, whose controlling shareholder recently agreed to pay a massive leniency fine after becoming embroiled in […] Read more
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