|Bid||23.79 x 0|
|Ask||23.86 x 0|
|Day's Range||23.50 - 24.10|
|52 Week Range||8.17 - 25.85|
|Beta (3Y Monthly)||0.53|
|PE Ratio (TTM)||103.46|
|Earnings Date||Aug 14, 2019|
|Forward Dividend & Yield||0.00 (0.01%)|
|1y Target Est||12.99|
Brazilian food processor JBS SA has been buying cattle from ranchers operating on deforested land in the Amazon that the government had said must not be used for grazing, a newspaper report said on Tuesday. Repórter Brasil, the Bureau of Investigative Journalism and The Guardian reported that a JBS supplier in the northern Brazilian state of Pará had been raising cattle in a deforested area that had been embargoed by the environment agency Ibama. In a statement sent to Reuters, JBS said that monitoring indirect cattle suppliers was challenging for the entire meat-packing sector due to a lack of public databases that would allow development of a proper monitoring system.
Beef-crazy Brazil, with its all-you-can-eat steak houses, world-leading meatpackers and more cattle than people, is not the first place you might look for plant-based alternatives to meat. Such "plant-based meats" generally use a processed mix of protein from soybeans or peas, for example, blended with mushrooms or vegetables such as beets to approach a texture, appearance and taste similar to animal products. Brazil's cattle population has grown to around 215 million, while the country has about 210 million residents, according to official statistics agency IBGE.
Brazilian chicken exports to China grew by 49% in May compared to the same period last year as the Asian nation imported more meat to deal with an outbreak of African swine fever (ASF) that has impacted domestic production. Brazil, the world's largest chicken exporter, shipped 381,100 tonnes last month to overseas customers, a 14.4% increase, according to a statement from meat industry group ABPA on Friday. China represented almost 15% of shipments, the ABPA data showed, and was Brazil's main chicken export destination last month.
Management at Brazilian food processor BRF SA has met with resistance from a minority of its board to talks on a potential merger with Marfrig SA that would create one of the world's largest meat producers, three people with knowledge of the matter said. The sources, who asked for anonymity to discuss confidential deliberations, said that BRF's 10 directors did not unanimously approve the exclusive talks with Marfrig. Dissenters questioned how a tie-up would fit with the strategy of Chairman and Chief Executive Pedro Parente to cut debt, sell assets and restructure operations after a string of losses.
Most Latin American currencies firmed on Monday against a dollar weakened by dovish comments from a Federal Reserve official, while a Latin American stocks benchmark marked time as broad regional gains ...
Brazilian food processors BRF SA and Marfrig Global Foods SA on Thursday announced exclusive talks for a potential tie-up that would create one of the world's largest meat producers, according to securities filings. A deal could combine BRF's poultry business, which leads the world in chicken exports, and Marfrig's beef business, which is second to JBS SA globally. Two other sources close to the companies said their aim is to create a complete protein portfolio to compete with global giants such as Tyson Foods Inc and JBS.
Brazilian food processors BRF SA and Marfrig Global Foods SA on Thursday opened exclusive talks for a potential tie-up that would create one of the world's largest meat producers, according to securities filings. A deal could combine BRF's poultry business, which leads the world in chicken exports, and Marfrig's beef business, which is second to JBS SA globally.
Nine Democratic senators urged the Trump administration to ensure an aid package meant to compensate U.S. farmers for losses stemming from the U.S.-China trade war does not end up in the hands of foreign companies. In a letter addressed to U.S. Agriculture Secretary Sonny Perdue, the senators said a commodity purchasing program that was part of a $12 billion aid package last year included contracts with Smithfield Foods, a subsidiary of China's WH Group, and JBS USA, owned by Brazil's JBS SA.
Most Latin American stock markets rose on Tuesday, gaining back some ground lost in the previous session, while Latin America's currencies firmed against the dollar as traders raised their risk exposures ...
Trump said on Sunday he will raise tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent, ratcheting up pressure on Beijing to agree to a deal. Apple Inc cut its fiscal first quarter sales forecast, blaming slowing iPhone sales in China where uncertainty around U.S.-China trade relations has hurt the economy. Late last month after Apple slashed prices, sales picked up and Apple cited the improved tone of the trade war for a stronger outlook.
Brazilian meat processor JBS SA said its Seara processed foods unit will start selling chicken products to India, as the group explores new markets in a year when poultry is poised to become the most demanded meat protein in the world. In a statement sent to Reuters on Thursday, JBS said Seara became the first company in Brazil authorized by India to sell chicken products in the Asian nation. India's per capita chicken consumption is forecast to increase to 2.23 kilos in 2019, up from 2.18 kilos in the previous year, as personal income rise, according data from the United Nations' Food and Agriculture Organization.
Tyson Foods Inc, Cargill Inc, the JBS USA unit of Brazil's JBS SA and National Beef Packing Co were accused of colluding since Jan. 2015 to suppress the price of "fed" cattle, which is cattle raised specifically for beef production, with a goal of improving margins and profitability. The 104-page complaint by the Ranchers Cattlemen Action Legal Fund United Stockgrowers of America (R-CALF) and four cattle-feeding ranchers was filed in Chicago federal court, and seeks compensatory, punitive and triple damages. It resembles litigation in the same court in which companies, including Tyson and JBS, have been accused of conspiring to fix prices of broiler chickens and pork.
Net proceeds from unsecured notes to be used to repay a portion of secured debt. New York, April 23, 2019 -- Moody's Investors Service, ("Moody's") has assigned Ba3 ratings to $700 million of unsecured notes being proposed as add-ons to existing notes that were co-issued by JBS USA Lux S.A. ("JBS USA"), JBS USA Finance, Inc. ("JBS USA Finance") and JBS USA Food Company ("JBS USA Food").
Exports of Brazilian beef grew 2.6 percent in the first quarter of 2019 to 405,669 million tonnes, the trade group Abiec said on Monday. Despite the growth, revenue from beef sold decreased 5.6 percent ...
Most Latin American currencies firmed against a slightly stronger dollar on Friday, while Brazil's real weakened as President Jair Bolsonaro appealed to leaders of five big centrist parties to back his ...
Moody's Investors Service, ("Moody's") has assigned a Ba3 rating to $650 million of unsecured 10-year notes proposed to be co-issued by JBS USA Lux S.A. ("JBS USA"), JBS USA Finance, Inc. ("JBS USA Finance") and JBS USA Food Company ("JBS USA Food"). The co-issuers are indirect wholly-owned subsidiaries of Brazil based JBS S.A. (Ba3 stable, the "parent"). The other ratings of JBS USA and the stable ratings outlook are unaffected.