Brazil JBS plant stops Beef exports to U.S.

SAO PAULO, May 21 (BestGrowthStock) – The world’s largest beef
processor, Brazil’s JBS (JBSS3.SA: ), said exports to the United
States from one of its plants had stopped after U.S authorities
detected traces of medicine in its meat above permitted levels.

JBS said in a filing late on Thursday the meat processed at
the Lins plant in Sao Paulo state was being recalled and the
unit would not make further shipments to the U.S. until it was
determined how meat with excess Ivermectin, a vermifuge or
medicine that expels intestinal worms, entered the supply.

It said it had been informed of the problem by the Brazilian
Agriculture Ministry.

The company said its other plants would serve the U.S.
market while it investigates, making the financial impact on the
firm negligible, adding that produce from the Lins plant would
continue to serve other markets.

Stock Market Today

(Reporting by Bruno Marfinati; Writing by Peter Murphy; Editing
by Jon Loades-Carter)

Brazil JBS plant stops Beef exports to U.S.