As we approach the summer, the cost of beef is reaching record highs. A pound of grilled sirloin now averages over $14, marking a 20 percent increase from the previous year, according to the Bureau of Labor Statistics.
Recently, President Trump considered easing tariffs on beef imports from countries like Argentina to help reduce these costs. However, this measure fails to tackle the root issue: the concentration of the meat industry. In 2025, 45 percent of U.S. cattle were processed through only 11 facilities. By 2024, four companies, including JBS, Tyson Foods, Cargill, and National Beef, dominated 80 to 85 percent of the domestic beef market.
In a bid to address this, Senator Chuck Schumer proposed legislation in March to dismantle large beef-packing firms. While the Trump administration has generally dismissed regulatory actions against large corporations, it has initiated investigations into both beef packers and egg processors for possible antitrust violations following price hikes during the avian flu outbreak.
Regulatory action will require commitment to enforce findings with decisive legal measures. Senator Schumer’s proposal represents a rare structural approach with potential bipartisan support. The U.S. food sector, in general, suffers from extensive consolidation. By 2020, two companies controlled half of all fresh bread sales, while two others dominated two-thirds of the baby formula market by 2022. Similarly, two companies produced 60 percent of the nation’s carrots by 2023. This concentration has kept food prices high, escalating by about 30 percent between 2019 and 2025. Corporations leveraged pandemic-driven supply chain disruptions to hike both prices and profits.
Such market domination was not preordained. It stems from decades of lax enforcement of existing antitrust laws, which date back to 1890. Starting with the Reagan era, both Republican and Democratic federal administrations have largely neglected to restrain corporate mergers. The Department of Justice and the Federal Trade Commission have often sided with Wall Street’s belief that mergers lead to efficiencies and ultimately lower prices for consumers.