JBS USA was hit by a cyber attack on 30 May, affecting its North American and Australian IT systems. JBS USA CEO Andre Nogueira said the company had cybersecurity plans which they were implementing.
On 1 June Nogueira said: "Given the progress our IT professionals and plant teams have made in the last 24 hours, the vast majority of our beef, pork, poultry and prepared foods plants will be operational tomorrow.”
He added the company was "making progress" to resume plant operations in the US and Australia and expected to resume plant operations today.
The company said it has received strong support from the US, Australian and Canadian governments, conducting daily calls with officials in an effort to safeguard the food supply.
The company is not aware of any evidence at this time that any customer, supplier or employee data has been compromised.
It comes at a time global factors are creating a “very tight” global beef cattle market. Rabobank’s Q2 Beef Quarterly reported strong demand and record high prices in many regions, coinciding with a “fundamental shift in international market dynamics”.
Localised disruptions, including droughts and increases in consumer demand in individual countries or regions, are now exerting a much more “dramatic impact” on global trade.
Report co-author, Rabobank senior animal proteins analyst Angus Gidley-Baird says the local drivers that are fuelling high beef and cattle prices in individual countries – such as post-drought herd rebuilding in Australia and a re-opening food service sector in the US – will eventually correct and cause an adjustment in prices.
“However, with the tight global supply situation – underpinned by Chinese demand which is expected to remain firm – we believe the global market has seen a fundamental step up,” he said.
Gidley-Baird said in the Australian market, cattle price increases had been significantly driven by improved seasonal conditions in 2020 which were carrying into the current year. These had seen intense buying competition by producers looking to restock properties and generate value out of increased pasture production.
