Where's the beef?
On Friday, President Trump perhaps didn't ask that question directly, but he did take to his Truth Social account to announce he was asking the Department of Justice to look into possible price-fixing agreements between meat-packing companies, particularly where the price of beef is concerned. Attorney General Bondi was quick to reply.
Our investigation is underway! My Antitrust Division led by @AAGSlater has taken the lead in partnership with our friend @SecRollins at @USDA. https://t.co/KP0zlO9RQg
— Attorney General Pamela Bondi (@AGPamBondi) November 7, 2025
The president's Truth Social post read in full:
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. 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. 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. Thank you for your attention to this matter!
The investigation will reportedly encompass foreign-owned beef-packing companies accused of unfair trade practices. President Trump has also floated the idea of importing beef to bring down prices.
Last month, Mr. Trump suggested the U.S. would buy Argentine beef to bring down stubbornly high prices for American consumers, angering U.S. cattle ranchers.
Beef prices have soared in part after drought and years of low prices led to the smallest U.S. herd size in decades. Mr. Trump's tariffs on Brazil, a major beef exporter, have also curbed imports.
Beef prices in the United States have been trending upward for several years. Factors out of the government's control are part of the reason for the rising prices. The number of beef cattle in the U.S. has dropped by over two percent in the last year alone. Part of this is due to droughts in some of America's primary cattle ranges. Finally, the ban on imported beef from Mexico due to the screwworm fly infestation has reduced the beef supply.
Read More: Make Beef American Again: Why Congress Must Act Now
What’s the Beef? Trump Wants Short Term Fixes; Long Term Fixes Are Much More Difficult
Last month, the agricultural companies Cargill and Tyson agreed to $32.5 million and $55 million payouts, respectively, to settle a class-action lawsuit over alleged price-fixing in the beef market.
Wayzata-based Cargill agreed to pay $32.5 million and Tyson Foods will pay $55 million to settle a class-action lawsuit alleging the two companies fixed U.S. beef prices.
The plaintiffs accused the companies in a 2019 lawsuit of inflating their beef prices by purposefully withholding supply.
Both Cargill and Tyson deny wrongdoing. The plaintiffs are still pursuing price-fixing claims against the remaining defendants in the lawsuit, JBS USA and National Beef Packing.
The settlements are, as of this writing, pending a judge's approval.
This announced investigation is sure to be the first step of a considerable process. Stay tuned!
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