Fewer meat packers threatens our national security

Beef industry changes mean ranchers have gone out of business and big companies have had huge profits. A new bill looks at antitrust as a way to fix things.

The four big meat packers are raking in record profits, while the average cattle producer’s share of the retail value of beef has decreased: from more than 50 cents on the dollar in 2015 to less than 37 cents on the dollar last year. This loss means that many ranchers are being forced to shut down their operations — abandoning a way of life that has often been in their family for generations. Since 1980, 40 percent of U.S. cattle producers have gone out of business while consolidation in the meat packing industry has climbed to over 80 percent. 

Meanwhile, Cargill reported the biggest profits in its 156-year history. Tyson saw a double-digit profit increase last quarter, and National Beef’s profits more than doubled in the third quarter of 2021. We’re witnessing a textbook case of multinational corporations ripping off hardworking Americans.