Justice Department Probes Meatpackers Over Price Fixing | JQJO

The Justice Department is conducting an antitrust investigation into major meatpackers, a move the White House requested after President Trump’s post accusing them of inflating prices and endangering the food supply. A news release named JBS, Cargill, Tyson Foods and National Beef, which together slaughter 85 percent of the country’s cattle and most hogs. Ranchers say the companies wield undue power as retail beef prices rose while cattle prices fell. Advocates welcomed the probe, which could reshape the cattle and beef sectors; the Meat Institute says packers are losing money and markets are transparent. The companies did not comment.