States seek federal beef price-fixing probe

Nearly a dozen Midwestern and Western state AGs joined the growing chorus of officials asking DOJ to investigate anticompetitive behavior by major meatpackers, citing the high price of retail beef while live cattle prices continue to sink. In a letter to U.S. Attorney General William Barr,the state AGs on Tuesday said that heavy consolidation in the sector means beef processors “are well positioned to coordinate their behavior and create a bottleneck in the cattle industry — to the detriment of ranchers and consumers alike.” They’re asking for a “thorough examination of the competitive dynamics of this industry.”