Overview
- Attorney General Pam Bondi confirmed the Justice Department’s antitrust division has begun investigating Cargill, Tyson Foods, JBS and National Beef in coordination with the USDA.
- The White House accused the companies of collusion and price manipulation, though officials have not released evidence to support the claims.
- Industry trade group the Meat Institute says packers have been losing money due to tight cattle supplies and strong demand, disputing assertions of artificial price inflation.
- Ground beef prices rose about 56% from April 2020 to September 2025, while the four largest packers handle roughly 85% of U.S. beef processing, according to cited government and industry data.
- The probe follows political backlash over plans to boost Argentine beef imports and a 50% tariff on Brazilian beef, as some ranchers and Republican lawmakers criticize the administration’s policy mix and industry ties.