A recap of some of our biggest stories of 2023 and a look ahead to antimonopoly action expected in 2024.
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After 15 years in the courts, last week a federal jury found the two largest egg companies guilty of conspiring to cut the egg supply and raise prices.
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Agri Stats collects and shares detailed data on meat companies’ prices, wages, production levels, and profit margins. Antitrust enforcers say that meat packers used this information to fix prices and suppress wages.
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Antitrust enforcers didn’t block Cargill’s takeover of Sanderson Farms, but they did challenge the companies for wage-fixing and deception, securing some significant changes for farmers and workers.
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Troubles in the turkey industry predate the pandemic.
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While hundreds of millions for cheated customers is nothing to sneeze at, it is not clear if these recent settlements will discourage future collusion.
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Wholesale beef prices have jumped to record levels, as shoppers stockpile meat in response to the global coronavirus pandemic. But this run on beef isn’t helping cattle ranchers. On the contrary, cattle prices have plummeted since January, putting many ranchers on the brink of collapse.
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On Tuesday, several Midwestern feedlot owners along with the Ranchers-Cattlemen Action Legal Fund (R-CALF) filed a class-action lawsuit alleging that dominant meatpackers conspired to depress cattle prices starting in 2015. The case argues that JBS, Tyson, Cargill, and National Beef strategically cut back on open market cattle bids, closed plants, and imported costly foreign cattle in order to force farmers to accept lower prices and manipulate spot market cattle values.
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Since roughly 2009, Americans may have been paying too much for their pork chops, barbeque, hams, and trotters.
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