"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."
"While Cattle Prices have dropped substantially, the price of Boxed Beef has gone up - Therefore, you know that something is 'fishy.' We will get to the bottom of it very quickly. If there is criminality, those people responsible will pay a steep price!"
"Shares for the world's largest meatpacker, JBS NV, fell by as much as 6.2% on Trump's comments, while Tyson Foods Inc. shares dropped by as much as 2% before paring losses to turn higher."
Donald Trump asked the Justice Department to open an investigation into the meatpacking industry, accusing companies of driving up beef prices through illicit collusion, price fixing, and price manipulation. He demanded expeditious DOJ action to protect consumers, combat illegal monopolies, and hold corporate actors criminally accountable if wrongdoing is found. Financial markets reacted, with shares of major meatpackers like JBS NV and Tyson Foods moving on the comments. Rising retail ground beef prices and a reduced U.S. cattle herd due to high costs and drought are cited as background factors for price increases. Agricultural allies have expressed concerns about some of his policy proposals.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]