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McDonald's sues top meat packers for allegedly colluding to inflate the price of beef (apnews.com)

submitted 1 month ago by [email protected] to c/[email protected]

80 comments fedilink hide all child comments

McDonald’s has some beef with today’s largest meat packers.

The fast food giant is suing the U.S. meat industry’s “Big Four” — Tyson, JBS, Cargill and National Beef Packing Company — and their subsidiaries, alleging a price fixing scheme for beef specifically. In a federal complaint, filed Friday in New York, McDonald’s accused the companies of anticompetitive measures such as collectively limiting supply to boost prices and charge “illegally inflated” amounts.

This collusion caused the beef market to become “a monopoly in which direct purchasers were forced to buy at prices dictated by (the meat packers),” McDonald’s suit reads — later noting that the injury it has sustained as one of those buyers is what “antitrust laws were designed to prevent.”

McDonald’s alleges that the meat packers’ conspiracy dates back nearly a decade, at least as early as January 2015, and continues today. Its suit argues these companies’ actions violate the Sherman Act, a federal antitrust law.

(page 2) 31 comments

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[–] [email protected] 5 points 1 month ago

Oh the ironing

[–] [email protected] 4 points 1 month ago

Any bets on how long it will take Fucker Carlson to start deriding McDonalds?

[–] [email protected] 3 points 1 month ago* (last edited 1 month ago) (5 children)

I don't know anything about the specifics here, but here's a 5 year graph of futures for live cattle versus beef:

https://tradingeconomics.com/commodity/live-cattle

If there's collusion to engage in price-fixing by meat packers, I'd expect to see beef prices rising without a corresponding increase in cattle prices.

Beef prices did indeed recently start rising rapidly without a corresponding increase in live cattle prices.

But on the other hand, beef prices are also a lot lower relative to live cattle prices than they were during roughly COVID-19.

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[–] [email protected] 3 points 1 month ago* (last edited 1 month ago)

Tell your boyfriend, if he says he's got beef, that I'm a vegetarian and I ain't fucking scared of him.

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