Tyson Shutters Major Meat Plant Amid Trump’s Collusion Allegations
Tyson Foods, a major player in the U.S. meat packing industry, is set to close its beef plant in Lexington, Nebraska. This decision emerges amid ongoing discussions about market manipulation within the industry. President Donald Trump recently called for a Department of Justice (DOJ) investigation into alleged price-fixing by the nation’s largest meat packing companies.
Trump’s Allegations Against Meat Packers
On November 7, Trump used social media to announce his demands for an investigation into what he described as illicit collusion among meat packers. He accused the four largest companies of artificially inflating beef prices. In his statement, he asserted, “We will always protect our American Ranchers, and they are being blamed for what is being done by Majority Foreign Owned Meat Packers.”
Previous Investigations and Settlements
Earlier in October, Tyson Foods along with Cargill settled a federal lawsuit for over $87.5 million. They were accused of manipulating beef prices by restricting supply. This lawsuit highlighted growing concerns regarding the influence of major corporations on consumer pricing.
The Impact of Major Corporations on Beef Prices
The White House emphasized the significant dominance of the four largest meat packers in the beef processing market. According to their statement, the “Big Four” companies account for an alarming 85% of the U.S. beef market, compared to just 36% in 1980. This shift raises questions about market competition and consumer pricing.
- JBS (Brazil)
- Cargill
- Tyson Foods
- National Beef
Calls for Immediate Action
Trump’s repeated calls for swift action reflect rising concerns over illegal monopolies and consumer protection. He has urged the DOJ to expedite their investigation into claims of criminal profit at the expense of American consumers. The ongoing situation continues to evolve, with potential repercussions for the meat packing industry and consumers alike.
