By Ana Mano and Roberto Samora

SAO PAULO (Reuters) -JBS, the world’s largest meat company, reported a net profit fall in the third quarter in spite of a rise in global net sales amid a still-challenging beef market environment in the U.S., according to an earnings statement on Thursday.

The company said third-quarter profit dropped to $581 million from $693 million in the year-ago quarter, citing negative beef margins in the U.S. amid multiyear-low cattle supplies.

“The industry continues to navigate a challenging cattle cycle, with limited cattle availability for processing,” JBS said in the earnings statement. “With cattle supplies at historically low levels, live cattle prices have remained high, pressuring profitability.”

In remarks about results, CEO Gilberto Tomazoni noted the si

See Full Page