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Brazil's JBS bullish despite challenging outlook for US beef business

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. te-challenging-outlook-for-us-beef-business.html
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JBS, the world's largest meatpacker, said cattle remain scarce and expensive in the U.S., dampening the outlook of its beef business in the country where the company derives most of its sales. While the operating environment will remain challenging this year,
The article from MSN discusses JBS SA, the world's largest meat producer, expressing optimism about its future despite facing challenges in its U.S. beef business. JBS reported a significant drop in U.S. beef sales volumes by 7.6% in the first quarter, attributed to a tight cattle supply which has driven up costs. Despite this, the company's overall performance was bolstered by strong results in its pork and chicken segments, as well as robust international sales. JBS's CEO, Gilberto Tomazoni, highlighted the company's strategic focus on diversification and global expansion, which has helped mitigate the impact of the U.S. market's difficulties. The company also noted that while U.S. beef exports are down, they are actively working on improving operational efficiencies and exploring new markets to counteract these challenges.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/brazil-s-jbs-bullish-despite-challenging-outlook-for-us-beef-business/ar-AA1BHKUA ]