A class action federal lawsuit is accusing top U.S. meatpackers, Cargill, JBS, National Beef and Tyson, of artificially increasing the price of meat to boost profit margins. The claim has been filed in Minneapolis by Central Grocers. The Chicago-based grocery company claims the meatpackers limited the supple of cattle and fixed the price of beef, leading to historically high market margins. These price spikes and shutdown on processing facilities has also prompted investigations by the U.S. Department of Justice and USDA.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.