00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Justice Department expanded its beef affordability investigation to eight major
00:07retailers, including Walmart, Costco, and Amazon, after a surge in retail beef prices,
00:13according to Reuters. The antitrust division is also investigating Kroger, Albertsons,
00:19Aldi, Publix, and a whole Delhaize USA. The probe follows a criminal investigation into large
00:26meatpackers, after President Trump accused companies of manipulating beef prices through
00:31collusion. Tyson Foods earlier agreed to pay $1.82.5 million to settle a proposed class-action
00:38lawsuit alleging it conspired to inflate beef prices by restricting supply. Tyson, Cargill, JBS USA,
00:45and National Beef Packing Company slaughter about 85% of U.S. grain fattened cattle. U.S. beef prices
00:52hit a record high in May, adding pressure on consumers already facing higher living costs
00:56and soaring gasoline prices tied to the Middle East conflict. The eight retailers did not
01:01immediately respond to Reuters' request for comment. For all things money, visit Benzinga.com.
