DOJ Has Subpoenaed JBS in Antitrust Probe
JBS is one of four meatpacking facilities that has been subpoenaed by the Department of Justice in an antitrust probe according to Bloomberg Law.
The four companies that have been subpoenaed control more than 80% of the United States beef processing market. Those companies include Tyson Foods Inc., Cargill Inc., National Beef Inc., and JBS SA.
According to the article at Bloomberg Law, the shutdowns due to the COVID-19 pandemic prompted calls to lawmakers for an investigation into the industry.
Complaints state there are signs of beef processors decreasing the price paid to cattle ranchers while customers are paying an inflated price for meat.
Representatives for Colorado's attorney general have not publicly commented on the matter yet.
Source: Bloomberg Law