DOJ investigates Cargill, top meatpackers for alleged beef price-fixing

The Department of Justice is investigating Minnetonka-based Cargill and other large meatpackers for alleged price-fixing as the cost of beef continues to soar, growing faster than the pace of inflation.

Without citing evidence, White House officials said in a news release late last week Cargill — alongside competitors JBS, Tyson Foods and National Beef — are potentially colluding and manipulating prices. These companies control 85% of the U.S. beef-processing market, meaning any price-tampering could greatly exploit American consumers, farmers and ranchers.

In a Truth Social post, President Donald Trump claimed meatpackers are driving up the price of beef.

“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 wrote.

A spokeswoman for Cargill — which says it produces nearly 11 billion pounds of boxed beef and byproducts per year — declined to comment. Attorney General Pamela Bondi confirmed the investigation on Friday in a post on social media platform X.

The investigation spotlights inflation pain for consumers as Trump reckons with commentary suggesting a focus on affordability propelled Democratic candidates to commanding victories in elections across the country Nov. 4.

The average price per pound of ground beef has increased from $4.05 to $6.32 between April 2020 and September 2025. That’s a climb of more than 56%, the U.S. Bureau of Labor Statistics reported via the Federal Reserve Bank of St. Louis. This growth exceeds the rate of inflation, as the consumer price index, which measures the average price of all goods, has risen by less than 27% for the same period.

“The beef industry is heavily regulated, and market transactions are transparent,” the group said in a news release. “The government’s own data from USDA confirms that the beef-packing sector is experiencing catastrophic losses, and experts predict this will continue into 2026.”

While grocery store beef prices have swelled, supply has not similarly increased.

The number of calves in the U.S. has fallen by more than 3 million since 2018, and commercial production of slaughtered beef has decreased from about 28.4 billion pounds in 2022 to 27 billion pounds in 2024, according to USDA data.

Drought, aging ranchers, rising calf prices and border issues with Mexico amid a screwworm outbreak have kept herd expansion out of reach, said Brian Earnest, CoBank’s lead economist for animal protein, in an August note. At the same time, beef demand has remained high with the growing popularity of protein, Earnest continued.

Cargill operates beef facilities in the U.S., Canada and Australia. The commodities trader, which is the U.S.’s largest private company by revenue, has long attracted accusations of price fixing.

Dozens of plaintiffs, including Minneapolis-based Target, previously squared off with Cargill in an antitrust lawsuit alleging the “big four″ beef producers price gouge. Starting in 2015, those meatpackers allegedly worked together to reduce cattle slaughter volumes through the COVID-19 pandemic, generating profits and high beef prices, the federal lawsuit said. The meat companies denied the accusations.

McDonald’s filed a similar lawsuit in 2024, but the large fast-food chain later dropped Cargill from the suit.

“We are pleased to put this matter behind us on terms that strengthen and grow our partnership with McDonald’s,” Cargill’s Chief Customer Officer Pete Richter said in an April statement.

Regarding separate antitrust lawsuits against Cargill, Richter added: “We stand by our conduct, and we will continue to aggressively defend against those claims.”