After President Trump in November accused beef companies of manipulating prices for cattle and driving up prices for consumers, the Justice Department’s antitrust division is criminally investigating the conduct of large meatpackers, reported The Wall Street Journal’s Dave Michaels and Patrick Thomas. The Justice Department disclosed an investigation of beef companies after Trump’s call for intervention, but officials haven’t revealed that it is a criminal probe, the report noted. Publicly traded companies in the meat production space include Hormel Foods (HRL), JBS (JBS), Pilgrim’s Pride (PPC) and Tyson Foods (TSN).
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