{"id":881,"date":"2023-09-25T15:17:39","date_gmt":"2023-09-25T18:17:39","guid":{"rendered":"https:\/\/neokingfoods.com\/?p=881"},"modified":"2024-07-03T05:27:36","modified_gmt":"2024-07-03T08:27:36","slug":"us-beef-market-challenges-for-brazilian-meatpackers","status":"publish","type":"post","link":"https:\/\/neokingfoods.com\/en\/news\/us-beef-market-challenges-for-brazilian-meatpackers\/","title":{"rendered":"US Beef Market Challenges for Brazilian Meatpackers"},"content":{"rendered":"
Brazilian Meatpackers Grapple with Challenges in the US Market<\/p>\n

<\/strong><\/h5>\n

Brazilian meatpacking giants, JBS and Marfrig, are navigating turbulent waters in the US due to escalating cattle prices and a dwindling supply. This has led to a significant dip in their Q1 profits, overshadowing even the losses from the temporary halt of Brazilian beef exports to China.<\/h5>\n
JBS reported a net loss of BRL 1.5 billion from January to March, a stark contrast to the BRL 5.14 billion profit in the same timeframe in 2022. Marfrig didn\u2019t fare any better, with its profits diving from BRL 109 million to a loss of BRL 634 million.<\/h5>\n
Felipe Simonsen Biancalana of Guide Investimentos shed light on the situation, stating, \u201cThe shift in the US livestock cycle, leading to reduced supply, has been the primary culprit. This setback has been more detrimental than even the mad cow disease episode that led to a meat embargo in Brazil.\u201d<\/h5>\n
The self-imposed embargo on Brazilian beef exports to China in February and March, in line with a bilateral agreement, further compounded the challenges.<\/h5>\n
JBS USA Beef\u2019s adjusted EBITDA for the quarter was a mere R$ 115.8 million, a jaw-dropping 97.2% decline from 2022\u2019s Q1 figures. This downturn rippled through the group\u2019s consolidated adjusted EBITDA, which plummeted by 78.6% to BR$ 2.16 billion. Consequently, the EBITDA margin shrank by 8.6 percentage points, settling at 2.5%.<\/h5>\n
US inflation didn\u2019t help either, especially for Marfrig\u2019s North American sales. Operating through National Beef, Marfrig saw its revenue slide by 15.5% in Q1, amounting to BR$ 13.4 billion. With cattle prices surging, National Beef\u2019s EBITDA tanked by 78% to BR$ 527 million, resulting in an EBITDA margin of 3.9%.<\/h5>\n
However, Tim Klein, Marfrig\u2019s North American CEO, remains optimistic about the upcoming quarters, anticipating a 3% to 4% reduction in cattle prices. \u201cJuly is expected to witness the year\u2019s lowest prices,\u201d he remarked.<\/h5>\n
Interestingly, Minerva Foods managed to sidestep some of these challenges. Not having a presence in North America, they were more affected by the Chinese embargo. Yet, their Q1 profit was BR$ 114 million, only a slight 0.5% dip from 2022. They leveraged their units in Argentina and Uruguay to cater to the Chinese demand.<\/h5>\n
What\u2019s your take on the challenges faced by Brazilian meatpackers in the US? Share your thoughts below.<\/h5>\n
Font: essfeed.com<\/h5>\n
Neoking foods specialized in:\u00a0<\/em><\/h5>\n
Brazilian Beef, Brazilian Chicken, Brazilian Pork, Brazilian Egg, Brazilian Breeders e Brazilian Duck, Brazilian Fish<\/em><\/h5>\n
Argentina Beef, Argentina Chicken, Argentina Pork, Argentina Mutton, Argentina Lamb \/\u00a0<\/em>Uruguay Lamb, Uruguay mutton<\/em><\/h5>\n
Chile Beef, Chile Chicken \/\u00a0<\/em>Paraguay Beef, Paraguay Chicken, Paraguay Pork<\/em><\/h5>\n

<\/h2>\n","protected":false},"excerpt":{"rendered":"

Brazilian Meatpackers Grapple with Challenges in the US Market Brazilian meatpacking giants, JBS and Marfrig, are navigating turbulent waters in the US due to escalating cattle prices and a dwindling supply. This has led to a significant dip in their Q1 profits, overshadowing even the losses from the temporary halt of Brazilian beef exports to […]\n","protected":false},"author":4,"featured_media":882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nUS Beef Market Challenges for Brazilian Meatpackers - Neoking Foods<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/neokingfoods.com\/en\/news\/us-beef-market-challenges-for-brazilian-meatpackers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Beef Market Challenges for Brazilian Meatpackers - Neoking Foods\" \/>\n<meta property=\"og:description\" content=\"Brazilian Meatpackers Grapple with Challenges in the US Market Brazilian meatpacking giants, JBS and Marfrig, are navigating turbulent waters in the US due to escalating cattle prices and a dwindling supply. 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