President Donald Trump has set his sights on the U.S. beef industry, launching a high-profile campaign against what he describes as artificially inflated beef prices that are hurting American consumers and ranchers alike. On November 7, 2025, Trump publicly accused major, mostly foreign-owned, meat packing companies of colluding to drive up the cost of beef. He has ordered the Department of Justice (DOJ) to open an investigation into the industry, alleging illicit collusion, price-fixing, and price manipulation that, he claims, threaten the nation’s food security.
“I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation,” Trump announced on Truth Social, as reported by the Associated Press. He further insisted, “Action must be taken immediately to protect Consumers, combat Illegal Monopolies, and ensure these Corporations are not criminally profiting at the expense of the American People. I am asking the DOJ to act expeditiously.”
Trump’s move comes after weeks of mounting political pressure over high grocery prices, particularly in the wake of his party’s losses in recent gubernatorial races in New Jersey and Virginia. The Democratic victors in those contests, Mikie Sherrill and Abigail Spanberger, focused their campaigns on affordability and the rising cost of living — a message that clearly resonated with voters. Trump, however, dismissed their efforts as a “con job,” telling supporters, “The Democrats are good at a few things, cheating on elections and conning people with facts that aren’t true.” He went on to claim, “Prices are down under the Trump administration, and they're down substantially ... gasoline is way down, and the other big thing is ... inflation is way down ... we did a great job on groceries and affordability. The only problem is the fake news. You people don't want to report it.”
But the reality facing American families tells a different story. Beef prices have remained stubbornly high throughout the year, with the cost of boxed beef rising even as cattle prices have stabilized or fallen. According to Fox News, which covered the story on its morning program Fox & Friends on November 9, Trump has argued that the price gap is suspicious: “Something is fishy because the price of Boxed Beef has gone up” despite stable cattle costs, he wrote in a second post.
Industry experts, however, point to a complex web of factors behind the high prices. Drought conditions and years of low cattle prices have left the United States with the smallest herd size in decades. At the same time, tariffs imposed by the Trump administration on Brazilian beef — a move intended to punish Brazil for jailing Trump’s ally, former president Jair Bolsonaro — have restricted imports. Complicating matters further, a flesh-eating pest in Mexican cattle herds has led to reduced imports from Mexico, another major supplier. Meanwhile, demand for beef remains robust, keeping prices high at the grocery store.
Glynn Tonsor, who leads the Meat Demand Monitor at Kansas State University, told the Associated Press that the ownership mix in the meat packing industry hasn’t changed much in recent years. “Prices are high because consumers want to eat it, and they’re willing and able to pay for it,” Tonsor explained. He added that the concentration of the U.S. beef industry — dominated by just four major meatpacking companies — has been a longstanding concern for both farmers and politicians. Still, there’s little evidence that these companies wield undue market power to manipulate prices. “The packing industry in this country has been investigated and researched for 50 years, and it’s been an issue for over a hundred years, at least, for some producers,” said Derrell Peel, an agricultural economist at Oklahoma State University. Peel warned that “if the outcome is to break up the big packers, the outcome will be higher beef prices for consumers, and lower cattle prices for producers.”
Trump’s accusations have not gone unchallenged by the industry. The Meat Institute, which represents major producers like JBS and Tyson Foods, insists that beef packers have actually been operating at a loss due to tight cattle supplies and strong demand. “For more than a year, beef packers have been operating at a loss due to a tight cattle supply and strong demand,” said Julie Anna Potts, President and CEO of the Meat Institute, in a statement to the Associated Press. “The beef industry is heavily regulated, and market transactions are transparent. The government’s own data from USDA confirms that the beef packing sector is experiencing catastrophic losses and experts predict this will continue into 2026.”
JBS, the world’s largest beef producer and based in Brazil, is a major player in the U.S. market, employing more than 72,000 Americans. The company has faced price-fixing allegations before. In 2022, JBS agreed to a $52.5 million settlement with grocery stores and wholesalers who accused it, along with Tyson Foods and others, of working together to suppress cattle slaughter numbers and inflate beef prices. However, JBS did not admit wrongdoing as part of the settlement.
Republican senators from cattle-producing states have voiced their own concerns about Trump’s approach. When Trump floated — and then quickly abandoned — a plan to have the government purchase Argentine beef in an attempt to drive down prices and support Argentina’s beef sector ahead of their elections, the proposal was met with swift opposition. Senator Deb Fisher of Nebraska warned, “Right now, government intervention in the beef market will hurt our cattle ranchers. The U.S. has safe, reliable beef, and it is the one bright spot in our struggling ag economy. Nebraska’s ranchers cannot afford to have the rug pulled out from under them when they’re just getting ahead or simply breaking even.”
Vice President JD Vance, meanwhile, found himself in the hot seat during a lunch with Republican senators in early November, as he was “bombarded” with questions about Trump’s Argentine beef proposal. At one point, Vance reportedly asked if anyone had “questions NOT about beef.”
The political battle over beef prices is not new. Both parties have taken swings at the industry in recent years. Then-President Joe Biden’s administration worked with independent farmers and ranchers to increase competition and reduce food prices, while Trump’s 2025 reelection campaign took aim at foreign-owned meatpackers and what he described as monopolistic practices. Even Kamala Harris, during her vice-presidential campaign, pledged to crack down on “price gouging” by food producers and supermarkets.
Senator Markwayne Mullin of Oklahoma, along with fellow Republicans Cindy Hyde-Smith of Mississippi and Tim Sheehy of Montana, visited the White House to discuss the issue with Trump. Mullin echoed the president’s concerns, saying, “We’re seeing the same exact game play again out” as in a 2019 lawsuit against large meatpackers for violating antitrust laws. Senator Kevin Cramer of North Dakota has also called for renewed investigations into the industry, a cause he’s championed since March 2020.
Despite the high-profile rhetoric and the launch of a federal investigation, experts remain skeptical that Trump’s latest move will result in lower prices at the grocery store. The beef industry’s structure and market forces are deeply entrenched, and past investigations have rarely led to dramatic changes for consumers or producers.
For now, American shoppers will continue to feel the pinch at the meat counter, while the political wrangling over beef prices — and who’s to blame — shows no sign of cooling off.
