JBS USA LUX SA: 2026 Investor Day Takeaways, Balance Sheet Management Keeps us Bullish

研报英文原文证据摘录

JBS USA LUX SA: 2026 Investor Day Takeaways, Balance Sheet Management Keeps us Bullish

Carla Casella, CFA AC North America Credit Research

(1-212) 270-6798 16 June 2026 J P M O R G A N

carla.casella@jpmorgan.com

Current Status of New World Screwworm (NWS)

• Recent detections in the United States (June 2026)

• USDA confirmed the first U.S. animal case in decades on June 3, 2026, in

Texas, with additional isolated detections in Texas and one in New Mexico in

the days following.

• These cases are being treated as localized incidents, and investigation and

containment activities are ongoing.

• U.S. risk level remains low

• USDA/APHIS continues to state that the current risk to animals and people

in the United States is very low, due to active surveillance and rapid response

systems.

• Isolated detections do not indicate establishment of the pest and can be

controlled through existing response measures.

• Aggressive containment and response underway

• Federal and state authorities have implemented:

• Quarantine zones and movement controls around detected cases

• Enhanced surveillance and testing of animals in affected areas

• Release of sterile flies to suppress and eradicate the pest

• USDA is coordinating a multi-agency response with industry partners.

• Trade and movement impacts already visible

• Restrictions on animal movement and trade have been implemented in

affected regions and at borders as a precaution.

• These measures are designed to contain spread while maintaining continuity

of business where possible.

Food Safety and Consumer Risk

• New World screwworm is not a food safety issue; it affects live animals but does

not carry into inspected meat.

• U.S. inspection systems ensure any affected animals are identified and excluded

from the food supply.