DES MOINES, Iowa - Iowa Attorney General Tom Miller has joined a bipartisan group of his counterparts from 10 other states to urge the Department of Justice to investigate possible price fixing by the meat packing industry.
The group sent a letter to U.S. Attorney General William Barr, to voice concerns over the likelihood of manipulation of the market for processed beef. The four largest meatpacking companies - Cargill, JBS USA, National Beef and Tyson Foods - control about 80% of the beef processing in the United States.
The attorneys' general say the "shelf price of beef is exceptionally high, while cattle prices are low and continue to dive." They say they're worried about meatpackers manipulating the market with record high beef prices as consumers stockpile meat during the COVID-19 pandemic, and cattle prices remain low.
Tyson has countered that while consumer demand for beef is up, orders from food industry customers such as restaurants is at a standstill.
Miller is joined by his counterparts from Arizona, Colorado, Idaho, Maine, Missouri, Montana, Nebraska, North Dakota, South Dakota and Wyoming in signing the letter to U.S. Attorney General Barr.