DOJ Investigates Meat Giants Over Beef Price Control

The U.S. Department of Justice (DOJ) has initiated an antitrust investigation into four major companies—Cargill, Tyson Foods, National Beef, and one unnamed firm—that dominate 85% of the U.S. beef processing market.

The investigation will focus on potential collusion and abuse of market power, particularly concerning the impact of foreign ownership on U.S. food security. This probe comes at a time when grocery store prices for ground beef are nearing $7 per pound, and the national cattle herd has decreased to 27.6 million head, with a 17% drop in the number of independent cattle farmers.

Agriculture Secretary Brook Rollins has publicly attributed the decline in cattle numbers to policies from the Biden administration, although critics argue that the issue has been developing over decades. The DOJ's investigation aims to introduce competition in the industry to alleviate the financial burden on consumers and ranchers alike.