JBS hack could chop meat exports, boost imports

Ags - Meat/Dairy 245 Consumer Staples 730 U.S. 5146

Meat packer JBS announced that they were impacted by a ransomware attack that temporarily closed facilities across the U.S., Australia, and Canada. The shutdown is a reminder that physical supply chains across manufacturing and logistics can be rapidly hamstrung by cybersecurity lapses. The hack comes as JBS was showing positive momentum in both imports and exports. U.S. seaborne imports of meat linked to the firm had increased by 121.2% year over year in April while exports rose by 28.0% year over year in the same period. Other companies that could benefit from JBS’s disruptions on the ...

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