Trump Demands Probe of Foreign-Owned Meat Packers for Inflating Beef Prices

President Donald Trump has accused foreign-owned meat packers of driving up the price of beef in the United States and asked the Department of Justice to open an investigation, Darlene Superville and Steve Karnowski reported for the Associated Press (AP).

Beef prices have soared to record levels in part because drought and years of low prices have led to the smallest U.S. herd size in decades.

Trump announced the move on social media just days after his party suffered major losses in key elections, where Democratic candidates focused relentlessly on the public’s concerns about the cost of living.

Experts said it’s unlikely an investigation would result in lower prices at grocery stores, and a trade group representing meat packers said they’re not to blame.

Trump did not present evidence for his claims, writing on social media that “I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation.”

He said he was taking the action to help ranchers, who were recently angered by his suggestion that the United States would buy Argentine beef to bring down stubbornly high prices for American consumers.

Beef prices have soared to record levels in part because drought and years of low prices have led to the smallest U.S. herd size in decades.

Trump’s tariffs on Brazil, a major beef exporter, have also curbed imports. Meanwhile, demand for beef remains strong.

Prices are high because consumers want to eat it—and they’re willing and able to pay for it, said Glynn Tonsor, who leads the Meat Demand Monitor at Kansas State University, Dee-Ann Durbin, Josh Funk, and Stephen Groves also reported for AP.