President Donald Trump has demanded a Justice Department investigation into meatpacking companies he believes are driving up beef prices through illegal means.
"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 posted on Truth Social.
"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," Trump continued.
"I am asking the DOJ to act expeditiously."
Attorney General Pam Bondi responded in a post on X: "Our investigation is underway!"
Bondi said the DOJ's Antitrust Division, led by Assistant Attorney General Abigail Slater, "has taken the lead in partnership with our friend" Agriculture Secretary Brooke Rollins.
Beef prices set records in 2025 after a yearslong drought burned up pastureland and hiked feeding costs for cattle. As a result, ranchers had to reduce production of steaks and hamburger meat.
Consumer demand has remained generally strong despite high prices.
Ranchers have long complained about consolidation in the meatpacking industry, where Tyson Foods, Cargill, JBS Foods, and National Beef Packing Co. control around 80% of the market.
Tyson, Cargill, and JBS have paid tens of millions of dollars to settle lawsuits accusing the companies of conspiring to inflate U.S. beef prices by restricting supply. The companies have denied wrongdoing.
Rollins thanked Trump for standing up for America's farmers, ranchers, and consumers.
"For far too long, hardworking ranching families have been squeezed by massive foreign-owned meatpacking corporations manipulating prices and driving family operations out of business," Rollins posted on X.
Reuters contributed to this report.
Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
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