The U.S. Department of Justice is expanding its investigation into record-high beef prices, widening its review to include eight major grocery chains, according to Meatingplace. The retailers involved are Kroger, Walmart, Publix, Albertsons, Aldi, Ahold Delhaize, Costco, and Amazon. The move follows an antitrust probe launched earlier this year into the nation’s largest meatpackers. According to Fox Business, DOJ letters sent to the companies seek information on beef pricing strategies, profit margins, operating costs, and purchasing arrangements dating back to 2020. Beef costs have climbed sharply over the past year. Data from the Bureau of Labor Statistics show beef and veal prices increased 9.4% in the 12 months ending in July, with ground beef up 9%, steaks up 9.6%, and roasts up 13.5%, all exceeding the overall inflation rate of 3.4%. Newsweek reports beef prices could remain elevated through 2027 as drought, higher production costs, herd liquidation, and supply challenges continue. Analysts also point to strong consumer demand and the U.S. cattle herd falling to its lowest level in 75 years, factors expected to keep supplies tight and prices high for the foreseeable future.
DOJ expands beef price investigation to major retailers
