JBS SA lost $390 million Cdn (1.45 billion reais) in the first quarter, much more than the market analysts’ prediction of 297 million reals.
It cited difficulties in the United States market where cattle prices increased by 16 per cent from a year earlier, but wholesale meat prices by only two per cent.
JBS is the world’s largest meat packer and owns the second-largest beef-packing plant in Western Canada near Calgary.
