3 ms·
Its meat processors having a monopoly.
by notfromhere 3mo ago
Its meat processors having a monopoly.
- deleted 3mo ago[deleted]
- ReptileMan 3mo agomonopsony
- hn_throwaway_99 3mo agoI realize saying RTFA is against the rules, but this exact point (meat processors profiting off the price hikes) is specifically discussed, and refuted, in the article: > Four companies - Tyson, JBS, Cargill and National Beef - control around 85% of American beef processing. > That high level of market concentration has drawn accusations of price-fixing, even from President Trump. > So you might expect that those four firms are currently making huge profits from high beef prices. Yet the opposite is happening. > Tyson, the biggest of the four, reported in May that it had lost more than $500m on beef in the first half of its financial year.