Beef prices boost JBS results as slaughter declines
12/05/2016
Revenues for the quarter at its Mercosul business, which include the results of its leather division, JBS Couros, were just under $2 billion, which reprsents a rise of 3%. However, its earnings on this figure, were more than double the amount for the same quarter last year, reaching almost $215 million this time around.
The group said its JBS Mercosul results had been boosted by 30%-plus price increases for beef in Brazil and in export markets.
Cattle slaughter in the region fell by 18.7% compared to the first quarter of 2015. In the first three months of this year, JBS Mercosul processed just over 1.8 million cattle, compared to almost 2.3 million in the same period in 2015.
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