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JBS targets lower debt despite $400M buyback

JBS, the world's largest meatpacker, expects to end the year with a debt leverage ratio below 2.5x even though the company may spend up to $400 million in a share repurchase program, Reuters reported, citing remarks from management on Thursday.

JBS posted a nearly 61% rise in net profit for the second quarter, which reached $528.1 million. Management said the results reflect the resilience of the company's global platform in the face of a challenging cattle cycle in the US and global geopolitical tensions.

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FLEECED! Sheep Shearer Hands Over Clippers!

Video: FLEECED! Sheep Shearer Hands Over Clippers!

It's sheep shearing day at Ewetopia Farms! ?? Our Dorset lambs and ewes are getting fleeced — and for the first time, our shearer hands over his clippers to a beginner. We finish shearing the last of our adult ewes and this year’s Dorset ewe lambs.

From moving the sheep between barns, loading them into chutes, and watching the wool come off, this is always one of the most satisfying days on the farm. But this video has a twist — we welcomed a new helper, Gian, who’s not only lending a hand but also learning how to shear! With guidance from our experienced shearer, he got a crash course in sheep shearing and even tried his hand at shearing a couple of lambs himself.

You’ll see firsthand how both teacher and student handled this unique challenge. Shearing is more than just removing wool — it’s about sheep health, comfort, and giving us a closer look at the flock. It’s always amazing to see the transformation from woolly sheep to freshly shorn ewes and lambs.