Cattle Herds Grow After 70-Year Low, JBS Foresees Recovery

ZISK
Jun 30
1 min read

U.S. ranchers are moving to expand their herds from a seven-decade low, paving the way for a long-awaited recovery in beef supplies, according to top producer JBS NV.

“We are into herd rebuild right now,” Wesley Batista Filho, CEO of the Brazilian company’s North American business, said in an interview. “The economic incentives are there, the weather is helping.”

That’s much-needed news for both meatpackers and consumers. A severe shortage in the world’s largest producer has sent cattle costs surging, wiping out billions in profits for companies such as JBS, Cargill Inc. and Tyson Foods Inc., while driving record beef prices at grocery stores.

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