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Meat Giants Face Ire in Washington Amid U.S. Beef Surge

    
Photographer: Al Drago/Bloomberg
Updated on

Meatpackers are in the crosshairs of U.S. lawmakers including traditional allies as ranchers complain that beef processors are abusing market power to gain out-sized margins at their expense.

Four giant companies control more than 80% of U.S. beef processing. Ranchers and cattle feeders are seething over a surge in retail beef prices this year that they say has resulted in little improvement in the prices they receive for livestock, repeating a pattern during the early months of the Covid-19 pandemic.