Minerva Sees Global Herds Shrinking in Sign of Pricier Beef [Yahoo! Finance Canada]
MARFRIG GLBL FOODS S/ADR (MRRTY)
NASDAQ:AMEX Investor Relations:
ir.marfrig.com.br/en
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg The US is already struggling with the smallest herd in more than seven decades, and now China and Europe are starting to face a decrease in their cattle supplies, Fernando Galletti de Queiroz, Minerva's chief executive officer, said during an earnings call on Thursday. Minerva's shares rose as much as 12% in Sao Paulo on Thursday, the most since December 2021, as the company reported strong fourth-quarter revenue despite challenges from rising cattle prices. Brazil's cattle for slaughter is also expected to start declining this year from a record in 2024, according to Minerva. Yet higher fertility and cattle weights could boost Brazilian beef supply, the company said. The company said it has started integrating 13 slaughtering plants it bought from Marfrig Global Foods SA, which will also help increase supplies. Tight supplies are already sending prices higher in the US, with cattle futures reaching a fresh record in January while wholesale beef also
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