Lower Production Forecast As Result of Cyberattack on JBS

Lower Production Forecast As Result of Cyberattack on JBS

Trading was quiet coming off of the long, holiday weekend. A number of buyers and sellers had already lined up business for this week ahead of the break. Sellers were out with higher offers on the expectation of tighter supply in the market. JBS is the victim of the most recent cyber-attack on critical US supply points. Sources indicated no clear timeline for resuming operations, but were hopeful that production could resume tomorrow. JBS represents over 20 percent of US cattle slaughtering operations and just under 20 percent of hog production.

Hog slaughter finished last week at an estimated 2.38 million head, up 20 percent from a year ago levels and down 0.6 percent from the week…

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