Brazil's JBS says China lockdowns won't affect demand, logistics a concern

SAO PAULO (Reuters) - Brazilian meat giant JBS SA played down the effects of COVID-19-related lockdowns in China, saying they would not affect demand for JBS products despite causing logistics concerns, according to management remarks on Thursday. During the first quarter, inventories rose in the United States because of logistics issues that also hampered U.S. ports, increasing costs for that business unit, which is the company's biggest. Still, China is seen as a long-term beef importer due to its low per capita consumption levels, JBS said. JBS posted a first-quarter profit that beat expectations in spite of higher global grain…