Key facts
- President Donald Trump plans to issue a legal order to break up food processing monopolies.
- The order aims to grant farmers and ranchers the right to process their own food.
- Trump described the situation as a 'nasty monopoly' among top processors.
- Four companies control approximately 85% of the U.S. meat processing market.
- The Justice Department is investigating meatpacking companies for illegal price increases.
U.S. President Donald Trump announced he is preparing a legal order intended to break up what he described as a "nasty monopoly" within the nation's top food processors. The order would aim to grant farmers and ranchers the right to process their own food. Trump did not specify which food industry or sector would be targeted but stated that legal documents were being drawn up quickly. This initiative comes as consumers continue to face elevated grocery prices, with midterm elections approaching. The meat processing sector is experiencing a 75-year low in supply, with rising cattle costs outpacing gains from soaring prices. Currently, four major companies—Cargill, Tyson Foods, JBS USA, and National Beef Packing Co.—control approximately 85% of the U.S. meat processing market. Earlier in the week, Trump had indicated he would examine regulations on beef processing plants. The Justice Department has separately stated it is investigating whether meatpacking companies have engaged in illegal practices to inflate consumer beef prices.