The United States is investigating meatpacking companies, the attorney general said Friday, after President Donald Trump claimed that the industry’s practices were driving up beef prices, Reuters reported.
Beef prices hit record highs in 2025 after years of drought scorched pastures and drove up cattle feed costs.
As a result, ranchers drastically reduced the nation’s cattle herd to its smallest level in nearly 75 years, cutting production of steaks and ground beef. Consumer demand has remained generally strong despite high prices.
“I’ve asked the Department of Justice to immediately open an investigation into meatpacking companies that are driving up beef prices through unlawful collusion, price fixing, and price manipulation,” Trump said in a post on Truth Social on Friday, without naming any companies.
Ranchers have long complained about consolidation in the meatpacking industry. Tyson, Cargill, JBS, and National Beef Packing Company together control around 80% of the market.
Spokespeople for the four companies did not immediately respond to Reuters’ requests for comment.
Tyson, Cargill, and JBS have paid tens of millions of dollars to settle lawsuits accusing them of conspiring to inflate U.S. beef prices by restricting supply. The companies have denied any wrongdoing. The Justice Department has already launched an investigation, Attorney General Pam Bondi said Friday in a post on X.
Over the past year, due to the limited supply of slaughter-ready cattle, meatpackers have suffered heavy financial losses because they have been unable to fully pass on higher costs to selling prices.
