Federal prosecutors have launched a criminal investigation into major beef processing companies over allegations of price manipulation, according to a Wall Street Journal report released Monday.
The Justice Department’s antitrust division is examining whether large meat processing firms engaged in illegal conduct to artificially inflate beef prices for consumers nationwide.
This criminal probe stems from former President Donald Trump’s accusations last year that meat processing companies were manipulating beef prices through coordinated efforts. Trump directed federal investigators to look into these claims.
While the Justice Department previously acknowledged it was examining the beef industry following Trump’s directive, officials had not publicly revealed the investigation involved potential criminal charges, the Wall Street Journal reported.
The investigation focuses on four dominant companies in the industry: Tyson Foods, Cargill, JBS USA, and National Beef Packing Company. These firms process approximately 85% of all grain-fed cattle in the United States, turning them into steaks, roasts, and other beef products sold in grocery stores across the country.
Justice Department officials have not responded to requests for additional information about the ongoing investigation.
