Ground beef just hit a record $6.89 a pound, up 80% since 2019 — and nobody along the supply chain sees relief coming. Ranchers like Eric Gropper point to years of drought that have shrunk cattle herds to their lowest level in decades. Meanwhile, meatpackers have been hammered by labor shortages and plant closures. And restaurants have had no choice but to keep raising prices.
But how much of this is the market, and how much is manipulation? Since the late 1970s, just four companies — Tyson, JBS, Cargill, and National Beef — have come to control roughly 80% of the American beef market. The Justice Department is now investigating, and McDonald’s and Target are among those suing over alleged price-fixing.
So how much has consolidation driven up prices? And would breaking up these companies actually lead to lower beef prices?
00:00 – Intro
01:16 – The Rise of Meatpackers
03:03 – Independent Ranchers
04:42 – The Selling Stage
05:20 – The Investigations
09:03 – Meatpacker Profits
10:23 – Consumer Prices
12:28 – The Future for Ranchers
14:29 – Credits
Read “I’ve opened more than 25 restaurants. If I could start over, I’d make 1 major change to the menu”: https://bit.ly/4dEu5kT
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#beefindustry #foodcost #consolidation #ranchers #soexpensive
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Beef Is More Expensive Than Ever. So Why Are Cattle Ranchers Broke? | So Expensive | Business Insider
