US DOJ probes beef industry for antitrust amid record-high prices and market consolidation.

Beef prices in the US have reached near-record highs due to factors like droughts, smaller cattle herds, and supply disruptions. The Department of Justice (DOJ) is investigating possible antitrust violations in the beef and cattle industries, as four companies control over 85% of beef processing. Acting Attorney General Todd Blanche indicated a settlement affecting prices of other meats like chicken, pork, and turkey will be announced soon. This probe could impact meat prices and industry practices going forward.