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Beef Cattle, Livestock, Markets, Reuters

China agrees to resume imports of Brazilian beef

Beijing authorizes four new Brazilian plants

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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
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

Beef consumption to rise in China, JBS predicts

China seen as more competitive in domestic chicken, pork markets

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Sao Paulo | Reuters — Demand for beef in China is expected to rise as the country still has relatively low per capita consumption, Gilberto Tomazoni, chief executive of JBS SA, said on Wednesday during a business conference. He said Brazil and the U.S., where JBS has meat facilities, are well positioned to meet China’s […] 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

Meatpacker JBS’s plunging profit beats forecasts

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Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meat producer, on Thursday said quarterly profit plunged 47.1 per cent, but results still beat analysts’ estimates as higher revenues helped offset shrinking margins in its U.S. beef division. The company posted a third-quarter net profit of 4.01 billion reais (C$1.001 billion), while analysts […] Read more
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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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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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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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
The agreement is designed to support the evolution of JBS’ Angus beef brand.
Markets, News

TrustBIX announces agreement with JBS

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On April 28, 2022, TrustBIX Inc. signed a master services agreement with JBS Food Canada ULC. The companies will work as trusted partners to grow sustainable beef production in Canada. These services support the evolution of the JBS Angus beef brand with full chain of custody data tracking and analysis by the Company’s proprietary platform, […] Read more
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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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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
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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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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

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