President Donald Trump, who has frustrated cattle producers with his push to lower beef prices, said Friday he is directing the Justice Department to investigate major meatpackers for possible price fixing and manipulation.
Trump launched a similar investigation in 2020 that continued through the Joe Biden administration and may still be ongoing.
In a Truth Social post Friday, Trump said, “We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers, who artificially inflate prices, and jeopardize the security of our Nation’s food supply.
“Action must be taken immediately to protect Consumers, combat Illegal Monopolies, and ensure these Corporations are not criminally profiting at the expense of the American People.”
Later, Attorney General Pam Bondi said in a post on X, "Our investigation is underway!" Ag Secretary Brooke Rollins retweeted Bondi's post and added, "Let's get to work!"
In a subsequent post, Trump cited his frustration that cattle prices have been falling even as beef prices have not: "While Cattle Prices have dropped substantially, the price of Boxed Beef has gone up — Therefore, you know that something is “fishy.” We will get to the bottom of it very quickly. If there is criminality, those people responsible will pay a steep price!
Cattle futures have reportedly dropped because of Trump's focus on lowering beef prices.
Four companies, Tyson Foods, JBS, Cargill and National Beef, dominate beef processing.
In a statement, Julie Anna Potts, the president and CEO of the Meat Institute, which represents the meatpacking industry, pointed to tight cattle supplies and strong demand as the source of high beef costs for consumers. She said packers have been "operating at a loss" for more than a year.
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"The beef industry is heavily regulated, and market transactions are transparent," Potts said. "The government’s own data from USDA confirms that the beef packing sector is experiencing catastrophic losses and experts predict this will continue into 2026."
DOJ launched an investigation into Cargill, JBS, National Beef and Tyson Foods in 2020 during the COVID-19 pandemic, according to a confidentiality agreement signed by agency officials that was obtained by Agri-Pulse. A quarterly report that Tyson filed in June indicated that the investigation may have been ongoing after Trump returned to the presidency.
“On May 22, 2020, December 23, 2020 and October 29, 2021, we received civil investigative demands (“CIDs”) from the DOJ’s Civil Antitrust Division. The CIDs request information related to the fed cattle and beef packing markets. We have been cooperating with the DOJ with respect to the CIDs. The Offices of the Attorney General for multiple states are participating in the investigation and coordinating with the DOJ,” Tyson’s 10-Q report said in June.
An executive order Biden signed in 2021 directed USDA to take a series of actions to address consolidation in the meat industry, including new rules designed to increase competition in the meat and poultry sectors.
University of Wisconsin Law Professor Peter Carstensen, who worked as a DOJ antitrust attorney from 1968 to 1973, believes the 2020 investigation is likely still ongoing. He told Agri-Pulse he reads Trump's tweet as an instruction to DOJ's Antitrust Division "to get going and really try to do something."
"I think this will motivate the lawyers at the Antitrust Division to take a hard look at what they've got, what they might be able to get, and whether they can fit it to an antitrust claim," Carstensen said.
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