ARGENTINA: Severe Drought, Regulations Killing Off Beef Production.

BLOOMBERG/  By Rodrigo Orihuela/   The worst drought in 70 years and export limits have reduced the nation's cattle herds. In a country where beef is king, consumption has slumped to 57.3 kilos (126 pounds) a year, the lowest since 1958. Beef exports declined by 50%, allowing Uruguay for the first time to surpass Argentina. Brasil's JBS SA, the world’s biggest beef producer, may close three of its six meat packing plants there.

Brasilians May Buy Bankrupt Pilgrim's Pride.

BLOOMBERG.
JBS SA, the world’s largest beef producer, may buy bankrupt U.S. poultry company Pilgrim’s Pride Corp. next week.
JBS will tap about $1.2 billion of cash and $500 million of revolving credit lines to buy Pittsburg, Texas-based Pilgrim’s Pride.