DOJ Investigating Alleged Antitrust Violations by Major Meatpackers– legalinsurrection.com

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EXCERPT:

Acting Attorney General Todd Blanche confirmed the DOJ antitrust division has been investigating possible violations by the meatpacking industry.

Blanche spoke at a press conference:

As you all know, last November, the president tasked the department to investigate the costs and prices of beef. As a result, we prioritized investigating potential antitrust violations in US cattle and beef markets.

In the beef industry, the big four processors control over 85% of the beef processing market. Two of the big four are primarily foreign owned. Multiple plant closures across the country. The current market structure and high concentration in the industry indicate anti-competitive activity. Since the President’s executive order, the department has been actively investigating with a review of over 3 million documents. Hundreds of industry participants, including ranchers, cattlemen, producers, and processors have been contacted and many interviewed as part of this ongoing investigation.

More broadly, the department has also executed on the President’s executive order to stop anti-competitive behavior in the broader food supply market.

Later this week, we will be announcing an historic settlement that will directly affect the prices of proteins like chicken, pork, and turkey. This business model allows competitors to exchange competitively sensitive information on every aspect of the protein industry, and has raised the prices on chicken, raised the prices on pork, and raised the prices on turkey.