The Brazilian meatpacker, JBS, is reporting first quarter losses of more than $1 billion. That compares to the U.S. equivalent of $130 million in profits one year ago. Currency valuations are shouldering the blame for most of that downturn. In the first quarter, JBS’ pork division saw a sales volume increase of 56 percent. The U.S. beef business enjoyed a four percent increase in volume sales. The company warned the COVID-19 will likely influence financial results going forward.
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