President Donald Trump accused foreign-owned meat packers of inflating U.S. beef prices and asked the Justice Department to investigate, days after GOP setbacks in elections centered on living costs. Economists blamed record prices on drought-shrunken herds, tight cattle supplies, Trump’s tariffs on Brazil, and strong demand, and doubted an inquiry will ease grocery bills. The Meat Institute said packers are losing money in regulated, transparent markets. Senators urged scrutiny, while JBS, the largest U.S. beef producer, previously settled a price-fixing case without admitting wrongdoing. One analyst warned breakups could raise consumer prices and cut cattle prices.

Prepared by Christopher Adams and reviewed by editorial team.