Reading Time: 2 minutes Reuters – McDonald’s has sued JBS, Tyson Foods and other leading meat processing and packing companies for allegedly conspiring for years to limit beef supplies, boosting their profits while causing the fast food giant to pay artificially higher prices. McDonald’s said in a lawsuit filed on Friday in Brooklyn federal court that the meatpackers, also including Cargill […] Read more
McDonald’s sues major beef producers in US price-fixing lawsuit
JBS posts profit as chicken and pigs make up for beef slump
Reading Time: 2 minutes Brazil's JBS SA, the world's largest meatpacker, said on Tuesday that divisions that process chicken and pigs lifted its results, including poultry unit Pilgrim's Pride, JBS USA Pork in the U.S., and Seara in Brazil.
JBS supplies tallow, lard for sustainable aviation fuel
Reading Time: < 1 minute Brazilian meatpacker JBS is supplying tallow and lard from its international operations for production of renewable aviation fuels, and it is studying a similar initiative in Brazil through the Friboi brand, the company said on Monday.
JBS says China blocks beef from US plant over detection of ractopamine
Reading Time: < 1 minute 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.
Unclear when tight US cattle supplies will expand, Tyson CEO says
Reading Time: 2 minutes 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
Reading Time: 2 minutes 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'
Reading Time: 2 minutes 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
Reading Time: 2 minutes 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
Reading Time: 2 minutes 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
Reading Time: 2 minutes 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
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