President Donald Trump has directed the Department of Justice to launch an investigation into the nation’s largest meatpacking companies, accusing them of collusion and manipulation that he says have driven beef prices to record highs and hurt American ranchers.
Trump announced the move on Truth Social, writing that he had “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,” Trump said. “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.”
While cattle prices have dropped “substantially,” the price of boxed beef has gone up. “[…] You know that something is “fishy.” We will get to the bottom of it very quickly. If there is criminality, those people responsible will pay a steep price!” Trump added.
The Justice Department confirmed Friday that it had opened an investigation into potential price-fixing and anti-competitive behavior in the beef industry. A DOJ spokesperson said the department’s antitrust division is working with the U.S. Department of Agriculture to “review market conditions and ensure fair competition.”
The announcement comes as consumers continue to face soaring grocery costs, with beef prices climbing sharply over the past year. According to data cited by Reuters, the average price of ground beef rose more than 13 percent year-over-year in September. Other data show a 50 percent price increase since 2020.
Trump has made tackling inflation and restoring economic fairness a key theme of his second term, promising to hold corporate monopolies accountable and protect domestic producers. According to industry reports, four major companies control roughly 85 percent of the nation’s beef processing: Tyson Foods, JBS USA, Cargill, and National Beef Packing Company. JBS, the world’s largest meatpacker, is based in Brazil, while National Beef’s majority owner is also foreign. The companies have faced scrutiny for years over their pricing practices, particularly during the pandemic, when cattle prices declined even as retail beef prices reached record highs.
The North American Meat Institute, which represents major processors, rejected Trump’s allegations. The group said in a statement that beef packers are operating under “some of the most intense regulation in the food industry” and are currently “losing money while retailers and restaurants set consumer prices.”
Agricultural economist Derrell Peel of Oklahoma State University told the Associated Press that while market concentration is a concern, there is “no clear evidence that packers are using market power to drive up beef prices.”
Governor Mark Gordon of Wyoming praised the President’s call to action:
“Wyo ranchers don’t need handouts; they need fair markets,” Gordon said. This action goes a long way in protecting Wyo ranchers & creating real fairness in the marketplace.”
For years, ranchers have argued that they are being squeezed between low cattle prices and high consumer prices, a gap they say reflects corporate manipulation rather than true market forces. Trump’s move lends new weight to their complaints and puts the nation’s biggest packers under unprecedented scrutiny.
Economists caution that the investigation may not immediately lower prices, since droughts, feed costs, and reduced herd sizes have also strained supply. But for many ranchers, the issue is about fairness, not just economics.
The Justice Department’s confirmation of the probe marks one of the first major antitrust actions of Trump’s second term and could lead to fines, criminal charges, or orders to restructure parts of the industry if wrongdoing is found. For now, the president has made his position clear: his administration is taking on the packers, and this time, the government is already on the case.
