JBS in deal to buy Arizona cattle feedyard

The U.S. cattle feeding unit of Brazilian meat giant JBS SA (JBSS3.SA) said it has reached a deal to buy McElhaney Feedyard in Welton, Arizona, for $24 million.

In a note on its website, JBS said the feedyard will be part of its Five Rivers Cattle Feeding LLC unit. The feedyard has a one-time capacity of 130,000 cattle and is near JBS'Tolleson, Arizona, beef plant.

"As I have said before we are strong believers in the U.S. livestock community and we will continue our efforts to bring efficiencies to the sector for the benefit of all," JBS director Wesley Batista said in a statement.