The fast food giant is suing Tyson, JBS, Cargill and National Beef Packing Company and their subsidiaries.

cross-posted from: https://lemmy.world/post/20647818

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.

  • dunidane@lemmy.sdf.orgEnglish
    2·
    1 month ago

    They should increase the price to McDonald’s. But they arent doing it for any good reason, passing it in to ranchers who have seen increasingly hard times, reducing the total amount of meat eaten, improving quality, reducing waste etc etc. Instead they just pass it on to executives and stock buybacks for the stock price.