Texas Probes 4 Meatpackers Controlling 85% of U.S. Beef Processing With DOJ

3 articles · Updated · FOX 7 Austin · May 15

Texas Attorney General Ken Paxton said his office is opening an investigation with the Justice Department into JBS, Tyson Fresh Meats, Cargill and National Beef over possible market manipulation.
The probe centers on claims the companies used their dominance to push down cattle prices paid to ranchers while raising beef prices for consumers, inflating grocery costs.
DOJ said its federal antitrust review of U.S. cattle and beef markets is already active, with officials examining more than 3 million documents and interviewing industry participants.
The four companies process more than 85% of U.S. beef, putting concentrated market power at the center of scrutiny over rancher pay, consumer prices and competition.

Beyond potential fines, will this probe lead to a fundamental breakup of the powerful 'Big Four' meatpacking companies?

One company was a defendant in a poultry price-fixing suit. Will its past predict the outcome for the beef industry?

Are meatpackers manipulating prices, or are historic droughts the real reason for record-high beef costs?