Wed, Feb 7th, 2024 - 6:49am
July 10, 2022 - 12:30pm | By Ty Schonert
(Houston, TX) -- The world's biggest food distributor is accusing America's so-called Big 4 beef packers of fixing prices.
Houston-based Sysco has filed a lawsuit charging Cargill, JBS, Tyson, and National Beef of violating antitrust laws. Sysco's lawsuit accuses the Big 4 of fixing prices and manipulating markets in ways that harm cattle ranchers and consumers.
The suit argues that since at least 2015 the beef packers have colluded to reduce their purchases of cattle to drive down livestock prices and raise meat prices.