US EditionDOJ investigating meatpacking companies after Trump price manipulation allegations
Federal investigators are examining whether price manipulation or collusion by major processors helped push ground beef up about 50% since 2021, data show.
- The Justice Department launched a criminal antitrust investigation into major meatpacking companies, following President Donald Trump's call for a probe into market manipulation last year.
- Beef prices hit record highs as the nationwide cattle inventory dropped to its lowest level in 70 years, with drought in Texas and Oklahoma forcing ranchers to liquidate herds.
- Thomas Massie noted that "Four meat packers control 85 percent of the meat processed in the U.S.," while investigators examine contracts referencing pricing benchmarks that some ranchers claim are manipulated.
- Shares of Tyson Foods and Smithfield Foods fell in New York following the report, which scrutinizes Tyson, Cargill, JBS, and National Beef.
- Senate Democratic Leader Chuck Schumer and 12 other senators proposed legislation that would force the nation's largest meatpackers to break up operations across beef, pork, and poultry.
11 Articles
11 Articles
DOJ investigating meatpacking companies after Trump price manipulation allegations
The antitrust division at the Department of Justice (DOJ) is investigating whether large meatpackers engaged in criminal anti-competitive conduct, according to multiple reports. Bloomberg reported, citing people with knowledge of the matter, that DOJ lawyers are investigating Cargill, JBS, National Beef and Tyson Foods. Cargill and Tyson are based in the U.S., while JBS is…
DOJ reportedly pursuing criminal antitrust probe of major meatpacking companies
The Justice Department is reportedly pursuing a criminal antitrust investigation of large meatpacking companies after President Donald Trump called for them to face a probe over the higher prices facing consumers.The Wall Street Journal reported, citing sources familiar with the matter, that while the DOJ indicated it was investigating beef companies following the president's request, the criminal nature of the probe hasn't been disclosed previo…
Trump Admin Targets Beef Prices and Supply Chain
The Justice Department's antitrust division is examining whether large suppliers manipulated cattle pricing or coordinated market behavior, according to people familiar with the matter, The Wall Street Journal reported. Criminal cases typically involve price-fixing or bid-rigging.
Coverage Details
Bias Distribution
- 45% of the sources are Center, 44% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
