Livestock and Grain Markets, Prices & Futures
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Latest News from Markets
Amid large corruption and bribery scandal, JBS’ new chairman Tarek Farahat vows to restore trust in world’s largest protein company.
Jury selection started Wednesday in a more than $1 billion defamation case over ABC news reports on a South Dakota meat producer’s lean, finely textured beef product, which critics have dubbed “pink slime.” The trial in state court is scheduled to last until late July.
JBS owners Wesley and Joesley Batista said to have agreed to a plea bargain.
JBS’s founders are known for both big business and scandals.
Meat producers may lose as much as 10% of market share.
Major importers ban Brazil shipments after food-safety scandal.
The so-called Weak Flesh probe launched Friday by Brazilian police into the alleged bribing of federal inspection agents to clear the sale and export adulterated meat has taken a toll on the world’s largest exporter of beef and chicken.
Imports halted from 1 plant of BRF and 1 Seara facility.
Zhang Lian has 270 tons of frozen Brazilian beef on a ship steaming toward Shanghai that he may not be able to get through customs when the vessel arrives next month.
JBS and BRF launch massive media campaigns to stave off impact.