Brazilian meatpacker Marfrig Global Foods has posted a fourth-quarter net loss of US$121 million, falling below estimates of a net profit for the quarter in part because of lower earnings in North America.
Analysts polled by Reuters had estimated a net profit of $88 million for the last three months of 2022, down from a profit of $125 million a year earlier.
Its North American unit saw weaker margins caused by lower demand and lower seasonal cattle numbers amid higher interest rates, the company’s regional head Tim Klein told journalists.
Read Also
Manitoba cattle prices, Jan. 28
Price ranges for cattle sold at five Manitoba livestock auction markets during the week ending Jan. 27, 2026
Rui Mendonca, the company’s top executive for South American operations, said Marfrig expects the Brazilian and Chinese governments to discuss the end of an embargo on Brazilian meat exports during a meeting in March.
Exports to China were halted earlier in February after Brazilian health authorities confirmed a case of “atypical” mad cow disease.
