JBS and BRF Face Challenges Amid Global Chicken Glut and Market Pressures

JBS Reports 86% Drop in Q3 Net Income, Delays NY Listing; BRF Widens Q3 Loss Amid High Grain Prices

JBS SA, the world's largest meatpacker, reported an 86% drop in Q3 net income, citing struggling U.S. beef margins, a recovering pork division, and global chicken oversupplies as factors.
JBS' plans to list shares in New York have been delayed due to a request from American Depositary Receipt holders to vote on the proposal.
BRF SA, a Brazilian pork and poultry processor, reported a wider Q3 loss due to a global chicken oversupply and high grain prices.
BRF's management stated that the worst of the cost pressure from corn, used as animal feed, may be over.
Both companies are facing challenges due to a global chicken glut, with JBS also dealing with low cattle availability in the U.S. and BRF grappling with high grain prices.