Trump requests Justice Dept. probe into possible price-fixing by major meatpackers

President Trump says meatpacking companies are driving up beef prices, so he wants the Department of Justice to investigate and “protect consumers.”

Mr. Trump, writing on social media, said he directed the department to figure out if the industry is engaged in “illicit collusion” to fix or manipulate prices.

“Action must be taken immediately to protect Consumers, combat Illegal Monopolies, and ensure these Corporations are not criminally profiting at the expense of the American People,” Mr. Trump said. “I am asking the DOJ to act expeditiously.”

Mr. Trump pointed the finger at meatpacking companies as he faces twin pressures — reducing grocery prices while protecting cattlemen who form part of his political base.

The cost of ground beef, driven upward by depleted herds, weather problems and high consumer demand, has risen to a record high of nearly $7 per pound.

Mr. Trump proposed buying more beef from Argentina to increase supply and drive down prices. Yet the move angered the U.S. beef industry, saying it would upset the U.S. market and violate the president’s “America First” principles.

Mr. Trump’s social media post pointed to a new culprit — the meatpacking companies that process, package and distribute beef to consumers.

Top meatpackers recently settled price-fixing lawsuits, and industry consolidation has fueled complaints about high costs.

“Four meatpacking giants controlling 81-85% of the fed-cattle market compound the problem by manipulating prices, labeling, and supply to profit at the expense of ranchers and consumers alike,” the Coalition for a Prosperous America said in a recent blog post.

The president did not outline evidence of illegal activity but suggested there had been chicanery in the marketplace.