Meatpackers In Senate's Sights As Food Supply Worries Grow

By Christopher Cole (July 28, 2021, 7:44 PM EDT) -- Four meatpacking giants wield so much control of the supply chain that they can depress prices paid to cattle ranchers even as consumers increasingly shell out more for beef at the grocery store, industry experts told U.S. senators Wednesday.

Lawmakers dove into the details of the food sector with a focus on beef to find out why independent cattle producers turn consistently low profits and some even quit the business, yet American consumers still deal with rising retail meat prices. Multiple senators floated the possibility of using antitrust law to break up the largest meatpackers.

The Senate Judiciary Committee hearing examined...

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