US Justice Department expands beef price probe to eight retailers

The U.S. Department of Justice announced on Tuesday that its antitrust division has broadened an investigation into beef affordability, adding eight major retailers to the list. This includes industry giants Walmart and Costco, along with e-commerce giant Amazon, as well as grocery chains Kroger and Albertsons, as well as Aldi, Publix, and Ahold Delhaize USA.

The expansion follows President Donald Trump's accusations that meatpacking companies have been manipulating and colluding to drive up beef prices in the United States, leading the Justice Department to launch a criminal investigation. Tyson Foods, one of the largest meatpackers, had previously agreed to a $82.5 million settlement over allegations of conspiring to inflate beef prices by limiting supply.

The investigation focuses on the fact that Tyson Foods, Cargill, JBS USA, and National Beef Packing Company slaughter about 85% of U.S. grain-fattened cattle used in supermarket products. Currently, beef prices have reached a record high in May, causing financial strain for consumers already dealing with high living costs exacerbated by rising gasoline prices due to the Middle East conflict. However, the eight retailers have not yet commented on the allegations.