Is There Meat Product Price Fixing In South Dakota?
Leaders from meat-producing states have written a letter to U.S. Attorney General William Barr asking for an investigation into meatpackers who may be manipulating prices. They are concerned that there may be some price-fixing going on during the COVID-19 pandemic.
If you've made a trip to grocery stores in the last few days you may have noticed the prices on meat products have gone up. And even though the price per pound on a packaged beef, pork, and chicken is high in stores farmers are seeing very low prices for their live animals.
According to Business Insider, the price on feeder cattle today is $1.19 a pound. However, today's price online at a Sioux Falls grocery store for 85% lean Ground Beef is $5.99.
The Sioux Falls Argus Leader is reporting that the Attorney generals from the following states have signed the letter:
- North Dakota
- South Dakota