Jun 01, 2021
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In the wake of a cyberattack, the world's largest meat supplier, JBS USA, has temporarily shut down all of its U.S. beef plants.
In a statement, JBS SA said: "The company took immediate action, suspending all affected systems, notifying authorities and activating the company's global network of IT professionals and third-party experts to resolve the situation. … The company’s backup servers were not affected, and it is actively working with an Incident Response firm to restore its systems as soon as possible."
Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle soars.
The rise in beef prices has already been spurred by increasing demand from China, limited cattle supplies in some countries, a shortage of slaughterhouse workers, and rising feed costs. The trend is starting to rattle supplier markets and impact policy.
The highest food prices seen since 2014 are hitting poorer consumers particularly hard as they struggle to recover from economic shutdowns triggered by the COVID-19 pandemic.