US Justice Department confirms antitrust probe into meatpacking industry
Updated
Updated · Bloomberg · May 4
US Justice Department confirms antitrust probe into meatpacking industry
12 articles · Updated · Bloomberg · May 4
Acting Attorney General Todd Blanche said the department would move quickly, but gave no further details on the investigation announced on 4 May.
The probe focuses on possible antitrust violations as US beef prices climb sharply and the national cattle herd continues to shrink.
The investigation adds regulatory pressure to an industry already under scrutiny over whether limited competition is worsening food inflation and supply strains.
Could Washington's plan to break up the 'big four' meatpackers actually make grocery store beef prices even higher?
Can new AI farming technology rebuild America's shrinking cattle herd faster than government investigations can fix the market?