JBS is the world’s largest meat producer and Brazil is the top beef exporter, so any fall in cattle supply would hit global markets at a time when other major producers, including the US, are also facing shortages. Executive director of Origination at Friboi JBS, Eduardo Pedroso said: “The imminence of the cattle cycle shift brings challenges. That’s what we expect.”Brazil has seen strong slaughter volumes in the past two years, driven by oversupply, which allowed processors to ramp up activity. But signs now point to tighter supply ahead. Consultancy Datagro expects cattle slaughter to fall by more than 9% in 2026, to 37.1 million head, after increases of 16% between 2023 and 2024 and 3% from 2024 to 2025.