JBS Profit Hit as China Quotas Overshadow US Beef Improvement

JBS Profit Hit as China Quotas Overshadow US Beef Improvement JBS NV is finally seeing some recovery in its US beef business, but the improvement wasn’t enough to outweigh the impact of China’s import restrictions on the world’s largest meatpacker. Weaker results in the two crucial beef exporting regions of Brazil and Australia dragged third-quarter profits lower, as both countries hit an annual quota limit for shipments into China earlier this year. JBS’s Brazil unit, which counts on the Asian country for a significant amount of its business, saw a 54% drop in adjusted earnings before items such as interest and taxes during the period.