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File photo of a truck arriving at a Smithfield Foods pork plant at Smithfield, Va. on Oct. 17, 2019. (Photo: Reuters/Tom Polansek)
Hogs, Livestock, Markets, Reuters

Smithfield Foods to pay US$75 million in pork price-fixing settlement

Follows similar settlement by JBS

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Reading Time: < 1 minute Reuters — Smithfield Foods has agreed to pay US$75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. A preliminary settlement in the antitrust case was filed on Tuesday night with the federal court […] Read more
Brazilian meatpacker JBS SA’s logo on a tower in Jundiai, northwest of Sao Paulo in southeastern Brazil, on June 1, 2017. (File photo: Reuters/Paulo Whitaker)
Beef Cattle, Livestock, Markets, Reuters

JBS quarterly profit falls almost 10 per cent but tops estimates

Cattle prices 'above the expected level'

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Reading Time: 2 minutes Sao Paulo | Reuters — JBS, the world’s largest meatpacker, posted an almost 10 per cent drop in net profits, to US$766 million, driven by the relative weakness of its U.S. beef and pork units in the second quarter, according to an earnings statement on Thursday. Still, it beat analysts’ forecasts. JBS reported a 4.6 […] Read more
A Savoye X-PTS shuttle. Scott Technology has had a joint venture agreement in place with Savoye since 2020 to use Savoye automated carton storage and retrieval systems in Scott material handling systems. Scott said it also plans to use the Savoye system in its project for JBS at Brooks. (ScottAutomation.com)
Beef Cattle, Livestock, Machinery

JBS to automate beef warehousing at Brooks

Packer to replace current fully manual system

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Reading Time: 2 minutes International meat packer JBS has enlisted a major robotics and automation company to overhaul the warehousing system at one of Canada’s biggest beef plants. JBS Foods Canada on Friday announced a $71 million project in partnership with New Zealand-based Scott Technology, to design and build a system that can handle and store up to 85,000 […] Read more
(RyanJLane/E+/Getty Images)
Livestock, Markets, Reuters

CEOs of four large U.S. meatpackers to testify in Congressional hearing

Beef prices up for consumers, down for ranchers

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Reading Time: < 1 minute Washington | Reuters — The chief executives of U.S. meatpackers Cargill, Tyson Foods, JBS and National Beef Packing have agreed to testify at a Congressional hearing discussing cattle markets and price increases for consumers, House agriculture committee chairman David Scott said Wednesday. “It is very important, very vital, and very urgent that we hear the […] Read more
(Lovelyshot/iStock/Getty Images)
Beef Cattle, Livestock

Quebec group seeks to sue beef packers over pricing

Group's class-action application alleges price-fixing dating back to 2015

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Reading Time: 2 minutes A Quebec consumer protection group intends to launch a class action lawsuit against four major beef processors in Canada and the U.S., alleging a “meat pricing conspiracy.” “At a time of high inflation, it is unacceptable to make the price of beef even more expensive than it already is,” Sylvie De Bellefeuille, a lawyer for […] Read more
Brazilian meatpacker JBS SA’s logo on a tower in Jundiai, northwest of Sao Paulo in southeastern Brazil, on June 1, 2017. (File photo: Reuters/Paulo Whitaker)
Livestock, Markets, Reuters

JBS says U.S. domestic and international businesses to remain strong

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Reading Time: 2 minutes Sao Paulo | Reuters — Brazilian meatpacker JBS, which operates multiple food processing facilities in the U.S. and one of Canada’s largest beef packing plants, said its North American operations will continue to drive performance. Speaking at a conference call to discuss fourth-quarter results, management said JBS will benefit from strong U.S. domestic demand for […] Read more
(JBSs.infoinvest.com.br)
Beef Cattle, Livestock

JBS to help fund home purchases for Brooks staff

Company offering zero-interest loans for down payments

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Reading Time: 2 minutes One of the biggest beef packers operating in Canada is pledging $1.7 million for a one-year pilot program to help employees buy or upgrade homes. JBS Foods Canada, which operates Brazilian meat packer JBS’s plant at Brooks, Alta., on Tuesday announced the launch of what it calls the “Homebuyer Dream Fund,” providing zero-interest loans to […] Read more
Employees walk around with face masks at the JBS USA meat packing plant at Greeley, Colorado on April 14, 2020. (File photo: Reuters/Shannon Stapleton)
Beef Cattle, Livestock, Markets, Reuters

JBS reaches ‘icebreaker’ settlement of beef price-fixing claims

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Reading Time: 2 minutes Reuters — JBS has agreed to pay US$52.5 million to settle litigation accusing meatpacking companies of conspiring to limit supply in the $63 billion-a-year U.S. beef market in order to inflate prices and boost profit. The preliminary settlement by the Brazilian company and its U.S. units with so-called direct purchasers was disclosed on Tuesday, and […] Read more
(Viktorcvetkovic/E+/Getty Images)
General, Machinery, Reuters

Spy agency sees ransomware attacks soaring

Aggressive hacking expected to increase

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Reading Time: < 1 minute Ottawa | Reuters — Global ransomware attacks increased by 151 per cent in the first half of 2021 compared with 2020 and hackers are set to become increasingly aggressive, Canada’s signals intelligence agency said on Monday. The Communications Security Establishment (CSE), citing attacks on North American health facilities and a U.S. pipeline, said the scale […] Read more

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