On Friday, November 7, 2025, President Donald Trump took to social media with a pointed message: "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." This directive, issued amid a backdrop of surging beef prices and mounting public frustration over the cost of groceries, signaled the opening of a high-stakes federal probe that could reshape the American meat industry and its relationship with consumers, ranchers, and regulators alike.
According to NBC News, the Justice Department's antitrust division has already launched an inquiry, working closely with the Department of Agriculture, to determine whether the nation’s largest beef processors—JBS (Brazil), Cargill, Tyson Foods, and National Beef—have engaged in illegal practices to manipulate prices. These four companies now control about 85 percent of the U.S. beef market, a dramatic increase from roughly one-third in 1980. The investigation marks a pivotal moment for an industry long criticized for its consolidation and market dominance.
Beef prices have soared nearly 15 percent since May 2025, with retail prices for ground beef reaching a record high of more than $6 per pound in July. Choice cuts have topped $9 per pound, and government data published in October showed retail prices for beef mince up 12.9 percent and beef steaks rising 16.6 percent over the previous year. A pound of ground chuck now averages $6.33, compared to $5.58 a year ago. These increases have far outpaced general food inflation, which stands at 3.1 percent, according to official statistics cited by the BBC.
Industry groups, however, have pushed back against accusations of wrongdoing. They blame higher prices on a combination of drought, reduced cattle inventories, and tariffs on imported beef. The U.S. cattle inventory has fallen to its lowest level in nearly 75 years, a result of years of contraction exacerbated by severe drought that forced ranchers to reduce herd sizes. Herds take years to rebuild, further tightening supply. Julie Anna Potts, President and CEO of the Meat Institute, which represents JBS and other meat producers, stated, "For more than a year, beef packers have been operating at a loss due to a tight cattle supply and strong demand. 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."
President Trump’s call for an investigation comes at a politically sensitive time. Just days before the announcement, Republicans suffered losses in key elections where Democratic candidates focused on the public’s anxiety over the cost of living. Trump has made lowering beef prices a centerpiece of his messaging on food inflation, but some of his previous proposals—such as urging ranchers to lower cattle prices or suggesting increased imports from Argentina—sparked backlash from the ranching community. Ranchers worried these solutions would further squeeze their already thin margins without helping consumers at the checkout.
In his social media post, Trump underscored his support for American ranchers, writing, "We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers, who artificially inflate prices, and jeopardize the security of our Nation’s food supply." The White House clarified that the probe would assess whether industry consolidation has led to illegal price manipulation, harming both ranchers and consumers.
Experts remain divided on the likely impact of the investigation. Some, like Glynn Tonsor of Kansas State University’s Meat Demand Monitor, point to strong consumer demand as a key driver of high prices: "Prices are high because consumers want to eat it, and they're willing and able to pay for it." Tonsor also noted that the ownership mix in the meatpacking industry has not changed significantly in recent years. Derrell Peel, an agricultural economist at Oklahoma State University, expressed skepticism about the potential benefits of the probe. "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. 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."
Senator Markwayne Mullin of Oklahoma, along with fellow Republican senators Cindy Hyde-Smith of Mississippi and Tim Sheehy of Montana, visited the White House on Friday to discuss recent volatility in the beef market with President Trump. Mullin stated that Trump agreed to have the Justice Department look into the issue, echoing concerns that "we're seeing the same exact game play again out" as in a 2019 lawsuit against large meat-packers for violating antitrust laws.
This isn’t the first time the industry has faced scrutiny. JBS, the Brazilian company that is the largest U.S. beef producer, has previously faced price-fixing charges. In 2022, JBS agreed to a $52.5 million settlement with grocery stores and wholesalers who accused JBS, Tyson Foods, and others of colluding to suppress cattle slaughter numbers and drive up beef prices. JBS did not admit wrongdoing as part of the settlement, according to the Associated Press.
The political battle over meatpacking consolidation is not new. The Biden administration had earlier directed agencies to tackle corporate consolidation across the food supply chain, but Trump revoked that order earlier in 2025. Former President Joe Biden also requested investigations into big meat packers, accusing them of raising prices and boosting profits during the pandemic. Senator Kevin Cramer of North Dakota has been a persistent advocate for such probes, having pushed for renewed investigations since March 2020.
As the Justice Department and Department of Agriculture proceed with their inquiry, the outcome remains uncertain. Industry groups continue to deny any illegal collusion, attributing the price surge to market forces beyond their control. Meanwhile, ranchers, consumers, and politicians from both parties will be watching closely, hoping for answers—and perhaps some relief at the grocery store.
The next few months could prove decisive, not just for the future of the American beef market but for the broader debate over corporate power, food security, and the role of government in safeguarding the interests of ordinary Americans.
