DOJ launches antitrust probe into meatpacking industry

Summary

The US Department of Justice (DOJ) announced that the Antitrust Division has opened an investigation into major meatpacking companies for allegedly increasing prices through price-fixing and collusion (the Alleged Conduct), in violation of Section 1 of the Sherman Act. The investigation, which is the most recent DOJ probe in the agriculture industry, was requested by President Trump in a social media post stating that “[a]ction must be taken immediately to protect Consumers, combat Illegal Monopolies and ensure these Corporations are not criminally profiting at the expense of the American People.” US Attorney General Pam Bondi promptly reposted the President’s message announcing that a joint investigation by the DOJ Antitrust Division and US Department of Agriculture (USDA) is underway.

While the specific contours of the investigation are not known, the Antitrust Division’s Criminal Enforcement Program often conducts price-fixing and collusion investigations of this type. Companies and individuals found to have violated the Sherman Act face criminal fines of up to US$100 million and US$1 million, respectively, and individuals face up to 10 years’ imprisonment. This investigation aligns with the administration’s stated priority of focusing on crimes that affect American consumers.

Key takeaways

Focus on foreign companies

The President’s announcement specifically blamed “Majority Foreign Owned Meat Packers” for the Alleged Conduct. Many of the largest meatpackers operating in the United States today are foreign-owned, particularly Brazilian and Chinese companies. This does not mean, however, that American companies are safe from this investigation. Indeed, American companies found to have colluded with foreign companies to increase beef prices for American consumers face significant risks. However, foreign-owned companies are likely the primary targets of this probe, and should expect increased scrutiny around any of their operations that touch US markets.

Second serving

President Trump previously directed the DOJ to investigate meatpackers for alleged price-fixing in 2019, during his first term in office, and sources within DOJ are reporting that the 2019 probe was closed just weeks before President Trump ordered this new investigation. Given the President’s personal directive for this second investigation, companies should expect that the DOJ will be more aggressive now as it pursues its investigations and considers charges against companies and individuals.

Cross-border scrutiny

While the United States may have initiated this investigation, the targeted companies have global operations and should be prepared for other enforcement agencies potentially to open similar investigations related to the Alleged Conduct. Companies and individuals targeted by multiple enforcement authorities should consider working towards a global resolution of all allegations, as opposed to a piecemeal resolution.

Whistleblower concerns

With the launch of the Antitrust Division’s newly created Whistleblower Rewards Program, in which whistleblowers can receive up to 30 percent of the criminal fine obtained from the conduct they report, meatpacking companies considering immunity through the Antitrust Division’s Leniency Program, to the extent it is still available, should consider the possibility of being preempted by an employee or executive with knowledge of potentially unlawful conduct. The President announced these investigations publicly, a clear sign to would-be whistleblowers that the DOJ would welcome their cooperation.

Follow-on litigation

Although the President’s message called for criminal investigations, the Alleged Conduct also carries the risk of civil litigation by the government and private plaintiffs alike – and this isn’t new to the industry. Indeed, the meat industry already has faced multiple lawsuits related to alleged antitrust violations in recent years. For example, in October 2024, McDonald’s sued the four largest meatpackers for allegedly colluding to inflate beef prices, citing anticompetitive practices dating back to 2015. And as recently as 2025, meatpackers have settled lawsuits in the United States that alleged price-fixing conspiracies among them. Regardless of how the DOJ’s investigation into the Alleged Conduct progresses, companies can expect continued civil litigation related to these claims, and should consider how those civil cases may impact ongoing criminal investigations.

Agriculture in the crosshairs

The DOJ also recently signaled its intent to focus on the agriculture industry more broadly. For example, on September 26, 2025, the DOJ Antitrust Division and USDA executed a Memorandum of Understanding in which the agencies committed to cooperating closely to “monitor[] competitive conditions in the agricultural marketplace.” The DOJ also has initiated multiple investigations and antitrust enforcement actions in other agricultural industries in recent years, such as the 2021 investigation in the broiler chicken industry.

A recent economic report by the USDA identified agricultural seeds and food retail in addition to meatpacking as agribusiness sectors that are highly concentrated and possible areas of focus for antitrust enforcement. The White House cited a related report in announcing the President’s call for the meatpacking investigation, and similar USDA data also was quoted by the Antitrust Division’s Assistant Attorney General, Abigail Slater, in recent statements indicating that agricultural seeds may be similarly under close watch: “According to USDA’s data, since 2020, seed expenses have risen 18 percent; fuel and oil costs increased 32 percent; fertilizer expenses increased 37 percent and interest expenditures for farmers spiked by 73 percent,” Slater said on November 19, 2025, to a group of law students and professors in Iowa in confirming the DOJ’s cooperation with USDA to address farmers’ rising input costs. Thus, although the President’s call to action was focused on meatpacking, businesses in other agriculture sectors should be aware of the increased antitrust scrutiny currently aimed at the industry.