As you all know, last November, the President tasked the Department to investigate the costs and prices of beef. As a result, we prioritized investigating potential antitrust violations in U.S. cattle and beef markets. In the beef industry, the big four processors control over 85% of the beef processing market. Two of the big four are primarily foreign owned. Multiple plant closures across the country. The current market structure and high concentration in the industry indicate anti competitive activity. (00:30–00:38)
CLAIM
Asserts that four companies control over 85% of the beef processing market.
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