DOJ Expands Meat Price Probe, Targets Top US Retailers
The US Department of Justice (DOJ) has expanded its investigation into soaring meat prices by requesting beef pricing information from eight major U.S. grocers, including Amazon (AMZN), Walmart (WMT), and Costco (COST).
The DOJ wants six years' worth of data on how retailers buy beef and set prices, as well as details about their purchasing strategies, retail prices, profit margins, and internal market analysis.
The investigation comes as beef prices remain near a record high, averaging $7.116 per pound in July, which is 9.4% higher than the same period last year.
President Donald Trump has already taken steps to increase supply by announcing plans to allow up to 300,000 metric tons of additional beef imports at lower tariff rates for 90 days.