Us launches Antitrust Probe Into Meatpackers Under Trump’s Behest 

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Bondi’s announcement followed Trump’s telephone for an enquiry into what he described arsenic artificially inflated beef prices.  

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The DoJ has not disclosed which companies mightiness travel nether scrutiny. 

However, successful a White House announcement posted connected Friday 4 companies were identified successful a footnote – JBS, Cargill, Tyson Foods and National Beef. They power astir 85% of US beef processing, compared to 36% successful 1980, according to nan notice.

“Two of these companies, including nan largest nutrient packer successful nan world, are either foreign-owned aliases person important overseas ownership and control,” nan White House said successful its statement.  

In a Truth Social post, also on Friday, Trump alleged that meatpacking companies are “driving up nan value of beef through illicit collusion, price fixing, and price manipulation”. 

He added: “We will ever protect our American ranchers and they are being blamed for what is being done by majority-foreign-owned meatpackers, who artificially inflate prices, and jeopardise nan information of our nation’s nutrient supply.”  

The Meat Institute, which represents US meatpackers, said nan beef assemblage is taxable to extended regularisation and that marketplace dealings are transparent.  

Meat Institute president and CEO Julie Anna Potts added: “Despite precocious user prices for beef, beef packers person been losing money because nan value of cattle is astatine grounds highs.  

“For much than a year, beef packers person been operating astatine a nonaccomplishment owed to a tight cattle proviso and beardown demand.” 

Ranchers Cattlemen Action Legal Fund United Stockgrowers of America, which represents US cattle and sheep producers, welcomed nan probe. 

Its CEO Bill Bullard said: “There has agelong been a disconnect betwixt cattle prices and beef prices, and we judge this is grounds of marketplace failure.  

“We invited this investigation to guarantee that cattle producers person competitory prices for their cattle, and that consumers salary prices group by a competitory marketplace alternatively than a monopolistic one.” 

The management of former President Joe Biden also targeted meatpacking companies in 2021/22 for contributing to higher nutrient prices. 

Cargill is simply a privately held agribusiness based successful Minnetonka, Minnesota, while Tyson Foods is publically listed and headquartered successful Springdale, Arkansas. 

“Industry consolidation has crushed title and hammered cattle producers. This has led to nan exploitation of American consumers, farmers, and ranchers,” nan White House connection added.  

Rollins posted connected X that nan inaugural is aimed astatine “cracking down connected nan foreign-owned meat-packing cartels that person been ripping disconnected American ranchers and driving up prices”, which she added, “is a immense triumph for our ranchers, our consumers, and anyone sick of overseas businesses fleecing Americans”.