SAO PAULO (Reuters) -Executives at JBS, the world's largest meatpacker, said U.S. beef margins will likely be tighter in the fourth quarter compared with the previous one due to a persistent shortage of cattle in the U.S., where it derives most of its revenue.

Speaking with analysts after reporting a third-quarter profit fall partly related to negative U.S. beef margins, executives said 2026 will still be a challenging year from the cattle supply perspective in the U.S., with gradual improvements likely in 2027.