‘Big Four’ meatpackers under fire as beef prices soar

The Tyson Foods beef processing plant in Lexington, Nebraska was closed on November 21, resulting in the loss of jobs for approximately 3,200 workers. The move came as a surprise given that Tyson, along with JBS, Cargill and National Beef, controls 85% of the industry and has reported high profit margins. The company cited "right sizing" its beef business to position it for long-term success, but an independent Senate candidate questioned this explanation. A class action lawsuit filed in 2019 alleged that the Big Four were engaging in price-fixing, market manipulation, and unfair practices by limiting production to drive up prices. The closure occurred during a time of near-record high beef prices and demand. The workers' layoffs have raised concerns about the impact on their livelihoods and the broader industry.

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