US Probes Meatpacking Giants Amid Beef Price Crisis
The US government is investigating major meatpacking companies for alleged collusion to manipulate beef prices. This follows accusations from former President Trump and rising consumer costs despite strong demand. The DOJ's probe aligns with bipartisan calls for more antitrust enforcement in the sector.
The U.S. government has launched an investigation into major meatpacking companies amid accusations of collusion and price manipulation that have led to rising beef prices. Former President Donald Trump recently criticized these companies for driving up costs, prompting the Department of Justice (DOJ) to step in with an official probe.
Ranchers have expressed concerns over the consolidation in the industry, with Tyson Foods, Cargill, JBS USA, and National Beef Packing Company controlling a significant portion of the market. This concentration, they argue, has harmful economic effects. The DOJ is also scrutinizing allegations against egg producers for similar activities.
Bipartisan calls for antitrust enforcement have intensified, with lawmakers demanding greater transparency and accountability in the sector. Attorney General Pam Bondi and Agriculture Secretary Brooke Rollins are spearheading the investigation, emphasizing the need to address consumer protection and competition issues amid high food prices.
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