A billionaire sibling from the world's largest meat-processing firm is concerned about meeting the unending American demand for p Protein.
Wesley Batista, who, alongside his brother Joesley Batista, heads the prominent Brazilian meat-packing giant $15 billion JBS, stated that the U.S. Increased foreign product acquisition is necessary to satisfy market requirements.
The United States The U.S. Is experiencing record-high beef prices. Batista commented, "We need to import increasingly more, as domestic production cannot meet the demand," according to reports by the Financial Times.
The popularity of high-protein diets has led to the macronutrient appearing in a wide range of products, from pre-packaged foods to Starbucks lattes. A survey from JBS rival Cargill revealed that 60% of consumers boosted their protein intake in 2024, a rise from less than half who reported a similar increase in The year 2019.
Batista suggests that the surge in GLP-1 medications might also be driving the current fascination with protein.
The precise impact of newer medications like Ozempic or Mounjaro remains unknown. To ensure your payment is processed smoothly, please submit all required documentation. This is a mandatory step for timely transaction completion. To ensure your payment is processed smoothly, please submit all required documentation. This is a mandatory step for timely transaction completion. According to the FT, Batista stated that "protein has become a trend, which is why something is happening." Historically, To ensure your payment is processed smoothly, please submit all required documentation. This is a mandatory step for timely transaction completion. To ensure your payment is processed smoothly, please submit all required documentation. This is a mandatory step for timely transaction completion. The physician advised limiting your egg consumption, recommending you avoid excessive protein intake. The situation has reversed.
The cattle conundrum
Even though it's the globe's leading A single U.S. Beef producer. This year, the country had to rely on its runner-up producer, Brazil, for assistance as its cattle herds became smaller. Despite the 10% "Liberation Day" tariff implemented by the Trump administration in April, Brazilian beef continued to be exported without interruption. In the first six months of the year, imports experienced a substantial increase of 91%.
As expected, Brazilian beef imports began to decline in August following President Donald Trump's imposition of a 50% tariff on the nation. Partially due to political disputes. However, nations like Australia, imposing just a 10% tariff, are positioned to benefit. The USDA predicted that overall beef imports for the latter half of the year would also rise, consequently boosting the total quantity of beef imported. Rose 16% year-over-year.
JBS board member Batista, formerly the company's CEO, stated that the tariffs had little impact on JBS as the majority of its meat production is for The United States Sell at home. In the United States, JBS holds the leading position in beef production. And the company's stock began trading on the New York Stock Exchange in June. As of its third fiscal quarter ending in August, JBS's American operations represented slightly less than one-third of its worldwide revenue.
When reached for comment, JBS did not immediately reply to Fortune's inquiry.
The cost of ground beef has surged by 13% per pound, reaching an average of $6.32 in the United States. As of the most recent data from August, according to the Bureau of Labor Statistics, these are the cities. The declining cattle population hasn'been beneficial. The United States As of July, the estimated number of beef cattle in the region was 28.7 million, marking the lowest figure recorded since data collection began in 1973.
Products continue to see price increases in certain markets, yet demand remains robust, particularly in the United States, Batista noted.