The price of beef has soared recently in part due to the increased demand from China and already limited cattle supplies globally. Expect it to rise more this summer as JBS SA of Brazil, the world's largest meat supplier, has recently shut down all of their plants in the US as well as a number of plants across the globe. Any delay in production regardless of now short, will surely cause a ripple that will cause an increase for meat products worldwide.
JBS reported cyber attacks and ransom demands from REvil, a notorious Russian ransomware gang. White House principal deputy press secretary Karine Jean-Pierre has confirmed the attack and says the White House and the Department of Agriculture have been in touch with the company several times this week.
JBS has reportedly resumed most of their operations.
Read more on NPR.
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