JBS: Worst of grain price impact on meat over
Brazil’s JBS chief executive Wesley Batista expects that the worst of the impact caused by recent spikes in grain prices for meat producers has passed.
Prices for corn and soybeans, key grains for animal feed bought by pork, poultry and beef producers, surged to record highs this year as a severe drought hit the US Midwest around July. In a highly unusual development, some US companies found it cheaper to import corn from Brazil than buy it from domestic producers.
Batista added that JBS does not expect to make any new acquisitions this year.
Source: Marketwatch
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