The U.S. Department of Justice has expanded its beef price investigation to eight of the country’s largest retailers, including Walmart, Amazon, Costco, Kroger, Albertsons, Publix, Aldi and Ahold Delhaize USA. The probe, described as a « priority » by the agency on September 1st, comes as the average price of ground beef reached $6.89 per pound in July, up 10% from a year earlier. The Trump administration is seeking to curb beef prices ahead of midterm elections, with inflation being a major political issue. Several factors explain this surge: drought affects 75% of American cattle, the herd size stands at its lowest level since 1951 with 86.2 million head, and tariffs on Brazilian beef have disrupted supplies. Meatpackers are also struggling financially, with Tyson announcing the closure of two plants and JBS reporting an adjusted operating loss of $279 million in its North American beef segment.
Source: Read the original article
