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.
JBS says US beef division facing challenges, Seara unit improving
Low cattle supply behind weakness in US division; headwinds expected to continue
Brazil’s soybean harvest kicks off with low yields in Mato Grosso
Crops suffered from lack of humidity; now rains are hampering harvest in some areas
Brazilian soybean farmers have begun to reap their 2023/24 soybean crop, covering some 0.6 per cent of the national planted area as of last Thursday, agribusiness consultancy AgRural said on Monday.
Brazilian farmers slow fertilizer buys as drought dampens corn-planting plans
Fertilizer companies are already dealing with lower profits as prices sag
Brazil's drought is causing farmers there to delay fertilizer purchases for their upcoming corn-planting season, denting sales for global fertilizer suppliers in the world's top corn-exporting country, executives told Reuters.
Brazil feedlot cattle steady
Reuters – An estimated 7.03 million head of cattle will have been processed in 2023 after spending 90 days in Brazil’s feedlots, a survey of that nation’s cattle market by Dutch nutrition company DSM Firmenich showed Nov. 27. The projection was largely steady from 2022’s 7.048 million. Cattle finished after passing through feedlots represents around
Brazilian state launches mandatory tracking of cattle to stop deforestation
The state government plans to track all 24 million cattle in the Para region by the end of 2026
Sao Paulo | Reuters — Brazil’s Para state, which leads the country for the highest levels of Amazon rainforest destruction, will launch a mandatory program to track cattle in a bid to crack down on related deforestation, a partner in the project said on Friday. Cattle pasture is the most common initial use for deforested
Brazilian firms track Amazonian cattle to root out deforestation
Reuters – A group of small Brazilian companies has announced a scheme to certify Amazonian cattle processed for meat and leather that have been reared without causing deforestation. The group has yet to include the biggest meatpackers and covers a fraction of Brazil’s 234 million-head cattle herd. The Certification of Origin and Traceability Implementation Initiative
JBS improves record on cattle buying, audit finds
Less of the firm’s beef is coming from ranches with environmental or human rights issues
Reuters – JBS, the world’s largest meatpacker, has reduced cattle purchases from ranches with “irregularities” such as illegal deforestation, federal prosecutors found in their latest round of audits in the Amazonian state of Para, released Nov. 9. Prosecutors said in a briefing that six per cent of JBS’s audited cattle purchases came from farms potentially
Third-quarter profit plunges for JBS
Low U.S. pork prices, beef margins and global chicken glut cited
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
Cargill faces Brazil criminal probe over Amazon port project
Investigation centres around whether land acquisition was proper
Reuters – Brazilian federal prosecutors are investigating transactions involving grains trader Cargill and a Brazilian partner after they found “irregularities” in the acquisition of disputed land where the U.S. company plans to build a massive river port in the Amazon rainforest. A spokesperson for the federal prosecutors’ office in Brazil’s Para state said they opened
Brazil feeds global chicken glut
Accelerated Brazilian chicken production will continue at least through the end of 2024, according to a lobby group for chicken and pork processors in mid-August. The news has been seen as a sign that a global chicken glut may not subside soon. An oversupplied chicken market affected Brazilian meatpackers’ earnings in recent quarters, also forcing
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