Brazil UPDATE: How will animal protein fare in the global crisis?

Overview

The ongoing global financial crisis has left Brazil - the world’s top beef and chicken exporter and fourth-largest pork exporter – scrambling to rewrite its playbook. The beef industry has been hit the hardest, with bankruptcy filings from at least seven key meatpackers (including fourth-largest exporter, Independencia) as of early March due to liquidity issues, short domestic cattle supplies and shrinking export revenues. The chicken and pork industries, though relatively less...