The spotlight is back on leading U.S. beef producers such as Tyson Foods (TSN), Hormel Foods (HRL), and Pilgrim’s Pride (PPC). The U.S. Department of Justice has reportedly initiated a criminal investigation into large meatpackers, according to the Wall Street Journal, which cited insiders.
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The revelation comes as Washington’s chief law enforcer in November launched a probe into such companies after President Donald Trump alleged that foreign-owned meatpackers were colluding to drive up the prices of beef in the country. In a post on X at the time, Trump championed the investigation to ensure that these corporations “are not criminally profiting at the expense of the American people.”
On Monday, the outlet reported that the probe is being treated as a criminal case, meaning investigators are trying to determine whether antitrust law was broken in a way that could be charged as a crime and not just a civil violation. However, the department itself has not confirmed that this is the nature of its investigation.