Overview
- The Justice Department’s antitrust division has reportedly opened a criminal investigation into Tyson Foods, Cargill, JBS and National Beef, according to multiple outlets citing sources.
- Investigators are examining cattle purchase contracts that tie prices to a benchmark some ranchers allege was manipulated, The Wall Street Journal reported.
- Beef and veal prices rose 12.1% over the past year as the U.S. cattle herd fell to a 70-year low, intensifying pressure on shoppers and sellers.
- The reported probe follows President Trump’s public call for action last year and comes after a prior inquiry into leading processors was closed weeks earlier, the Journal said.
- A criminal case would require proof that rivals agreed to fix prices or rig bids, a higher bar than civil suits that have already produced more than $170 million in settlements.