JBS SA, the world’s biggest meat producer, reported an unexpected 69 percent decline in first- quarter profit after currency-hedging costs partly erased gains from its poultry businesses.
The U.S. and Japan still face “considerable” differences in reaching an agreement on the Trans-Pacific Partnership regional trade pact two weeks before President Barack Obama pays a state visit.
The planned use of meat from cattle treated with antibiotics because of an illness comes as U.S. beef production is projected to plunge to a 21-year low next year.
JBS SA, the world’s biggest beef producer, is counting on steak-hungry consumers in Asian nations to help propel total exports past $10 billion for the first time this year.
