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Tue Jun 1, 2021, 06:43 AM

Sen. Tina Smith signs on to letter requesting DOJ antitrust investigation into beef processing

Sen. Tina Smith signs on to letter requesting DOJ antitrust investigation into beef processing industry


U.S. Sen. Tina Smith has signed on to a letter asking the Justice Department to investigate whether four large beef processors have a monopoly on meat processing that some members of Congress say is leading to high retail beef prices.

Led by South Dakota Republican Sen. Michael Rounds, the bipartisan effort includes two dozen U.S. senators and representatives, who want Attorney General Merrick Garland to review whether anticompetitive practices in the industry are hurting consumers and ranchers who say they are being paid low prices for their cattle.

“From our perspective, the anticompetitive practices occurring in the industry today are unambiguous and either our antitrust laws are not being enforced or they are not capable of addressing the apparent oligopoly that so plainly exists,” reads the letter, dated May 27. “This is where we need to work together.”

Minnesota ranks tenth in its production of beef, making $2 billion in annual sales, according to Minnesota Department of Agriculture figures.

Read more: https://minnesotareformer.com/briefs/sen-tina-smith-signs-on-to-letter-requesting-doj-antitrust-investigation-into-beef-processing-industry/

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