JBS Made a Fortune on Its Currency Bets. Then, the Tide Turned

  • Meatpacker's wrong-way currency bet said to cost $1.4 billion
  • JBS said to unwind $2.5 billion of $12 billion hedge position

JBS SA, the world’s biggest beef producer, made a fortune last year betting against the Brazilian currency. It lost half its windfall when the real rebounded in the first quarter.

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