‘Illicit collusion, price fixing’: Donald Trump orders probe over soaring US beef costs; DOJ launches antitrust investigation
US President Donald Trump has directed the justice department to investigate major meatpacking companies for alleged collusion and price manipulation amid record-high beef prices. In a post on Truth Social, Trump accused meat firms of “driving up the price of beef through illicit collusion, price fixing, and price manipulation,” saying he had ordered an immediate inquiry.Attorney general Pam Bondi confirmed on X that the investigation was under way, led by agriculture secretary Brooke Rollins and assistant attorney General Gail Slater, who heads the department’s antitrust division. The probe will examine whether leading processors have engaged in practices that distort market competition.According to Reuters, Tyson Foods, Cargill, JBS USA, and National Beef Packing Company together process about 85% of US grain-fed cattle, which supply steaks and beef cuts across the country. The justice department has not named any specific targets so far.Beef prices have reached new highs in 2025, fuelled by droughts that damaged pasturelands and raised feed costs, forcing ranchers to cut the national herd to its smallest in nearly 75 years. Data from the Bureau of Labour Statistics showed the retail price of ground chuck beef at $6.33 per pound in September, up 13.5% from last year. Despite soaring costs, consumer demand has remained strong.Rollins said on X, “We need transparency, accountability, and a fair market that rewards those who actually raise and produce our beef — not the corporate middlemen gaming the system.” The Meat Institute, which represents major processors, rejected the claims, arguing the industry is “heavily regulated” and “market transactions are transparent.” Its CEO, Julie Anna Potts, said that despite high retail prices, “beef packers have been losing money because the price of cattle is at record highs”, reported Reuters.Trump’s move came days after Republican losses in elections dominated by concerns over the rising cost of living. He said the action aims to “protect our American ranchers” from “majority foreign-owned meat packers who artificially inflate prices and jeopardise national food security.”The justice department’s antitrust division can issue subpoenas and pursue both civil and criminal investigations into anti-competitive conduct. Slater, a former adviser to Vice President JD Vance, has said her office will focus on “pocketbook issues” like food, housing, and transport.Industry consolidation has long drawn criticism from ranchers. Advocacy group R-CALF USA said the sector’s concentration is “well beyond the level normally considered a harm to the economy.” The companies involved have previously paid millions to settle price-fixing lawsuits but denied wrongdoing.The investigation follows Trump’s previous call to lower beef prices by increasing imports from Argentina — a suggestion that angered ranchers, according to news agency AFP. The National Cattlemen’s Beef Association said the move could “undercut the future of family farmers and ranchers.”
