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Story summary
- JBS USA closed its Philadelphia and Memphis beef plants, cutting 2,000 jobs, CEO Wesley Batista Filho said, absorbing the facilities into other operations as a consolidation strategy.
- USDA reports beef prices rose 16% from $8.70 to $10.08 March 2025 to March 2026, while consumer spending topped $45 billion.
- JBS posted a Q1 2026 net loss of $279 million, deeper than $158 million prior, shifting Pilgrim Pride chicken production to Ellijay, Georgia, and cutting 348 jobs.
