JBS Archives - Page 17 of 19

JBS CEO ordered to step aside in Brazil pension fund probe

By GFM Network News September 6, 2016

Brasilia | Reuters — Brazilian police launched an investigation of fraud at state-run companies’ pension funds on Monday, as a judge ordered dozens of senior financiers and executives away from their firms, including the CEO of the world’s biggest beef exporter. Police carried out five arrests, more than two dozen interrogations and over 100 search […] Read more

Beef Cattle, Hogs, Livestock, Reuters

JBS quarterly profits beat expectations

By Reuters, GFM Network News August 11, 2016

Sao Paulo | Reuters — Brazil’s JBS SA, the world’s largest meat processor, posted better than expected second-quarter profits on Wednesday, helped by a sharp increase in revenues from its pork business in the U.S., said the company. São Paulo-based JBS earned 1.657 billion reais (C$650 million) in net income last quarter, compared with 252 […] Read more

Beef Cattle, Livestock, Markets, Reuters

U.S. opens up to Brazil fresh beef imports

By Reuters, GFM Network News August 1, 2016

Brasilia | Reuters –– The U.S. and Brazilian governments exchanged food safety equivalence documents on Monday that will open up their respective markets to fresh beef exports, a window expected to boost Brazil’s exports to the U.S. by US$900 million. The U.S. Department of Agriculture said its Food Safety and Inspection Service had determined that […] Read more

Earls president Mo Jessa (r) and Stan Carscallen of White Moose Ranch meet at Priddis, Alta. (Earls.ca)

Beef Cattle, Livestock

Earls locks in Canadian beef supplies

By Grainews Staff, GFM Network News June 22, 2016

Vancouver-based dining chain Earls has enlisted a handful of Canadian ranchers and processors to supply beef to about half its stores while matching its criteria for animal care and “ethical farming practices.” The move comes about six weeks after Earls retreated from a plan to source its beef from Creekstone Farms, choosing the Kansas company […] Read more

Livestock, Markets, Reuters

JBS posts large loss, announces reorganization

By Reuters, GFM Network News May 12, 2016

Brasilia | Reuters –– Brazilian meat packer JBS posted a much larger-than-expected first-quarter loss on Thursday, but its shares jumped the day after it announced a corporate reorganization to bring together international operations. JBS, the world’s biggest meat packer, lost 2.741 billion reais (C$1.02 billion) on currency hedging costs and poor results on the company’s […] Read more

Beef Cattle, Livestock, Markets, Reuters

Online cattle auction aims to shake up U.S. market

By GFM Network News January 29, 2016

San Diego | Reuters — A proposal for an online auction that could shake up the U.S. pricing model for cattle is set to make its public debut on Friday after a test run last week, with the support of a unit of the world’s largest meatpacker. Producers have worried for years that the country’s […] Read more

Livestock, Reuters

Brazil prosecutors charge JBS board chairman

By Reuters, GFM Network News January 27, 2016

Sao Paulo | Reuters –– Prosecutors charged Joesley Batista, chairman of Brazilian meatpacker JBS’s board and president of its controlling shareholder J+F Investimentos, and eight others with crimes against the financial system, sending shares of JBS SA down more than eight per cent on Tuesday. The statement from prosecutors said J+F Investimentos and another subsidiary […] Read more

Beef Cattle, Hogs, Livestock, Markets

Packers approved to move beef, pork to Ukraine

By Grainews Staff, GFM Network News January 11, 2016

Inspectors have approved 15 Canadian beef and pork processing plants to export to Ukraine, more than doubling the number of Canadian meat plants able to ship to the country. Federal Agriculture Minister Lawrence MacAulay and Trade Minister Chrystia Freeland on Monday announced Ukraine has, essentially, approved beef and pork exports from any Canadian federally-registered establishment […] Read more

Brazil court probing state-backed loans to JBS

By GFM Network News November 27, 2015

Sao Paulo | Reuters — Brazil’s federal accounts court, the TCU, said it had identified irregularities on loans to JBS SA, the world’s largest beef producer, and is deepening an investigation into the company’s relationship with state-run lender BNDES. The TCU is probing loans used to purchase U.S.-companies Swift and Co, for about US$225 million […] Read more

Hogs

Brazil’s JBS concludes acquisition of Cargill pork unit

By Reuters, GFM Network News October 30, 2015

Sao Paulo / Reuters – Brazilian meatpacker JBS SA said on Friday it had concluded its $1.45 billion acquisition of Cargill Inc’s U.S. pork assets without any restrictions from regulators, a deal that makes it one of the largest meat companies in the United States. UPDATE: Cargill Illinois hog processing plant offline until Monday Chicago / […] Read more

U.S. livestock: Cattle and hog futures slide

U.S. grains: Corn, soy, wheat futures rise as dollar sags; crop yields eyed

Pulse weekly: Large U.S. pea/lentil crops expected

GFM Network News