The Real Reason Beef Prices Are So Expensive

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Ground beef just hit a record $6.89 a pound, up 80% since 2019 — and nobody along the supply chain sees relief coming. Ranchers like Eric Gropper point to years of drought that have shrunk cattle herds to their lowest level in decades. Meanwhile, meatpackers have been hammered by labor shortages and plant closures. And restaurants have had no choice but to keep raising prices. But how much of this is the market, and how much is manipulation? Since the late 1970s, just four companies — Tyson, JBS, Cargill, and National Beef — have come to control roughly 80% of the American beef market. The Justice Department is now investigating, and McDonald's and Target are among those suing over alleged price-fixing. So how much has consolidation driven up prices? And would breaking up these companies actually lead to lower beef prices? 00:00 - Intro 01:16 - The Rise of Meatpackers 03:03 - Independent Ranchers 04:42 - The Selling Stage 05:20 - The Investigations 09:03 - Meatpacker Profits 10:23 - Consumer Prices 12:28 - The Future for Ranchers 14:29 - Credits Read "I've opened more than 25 restaurants. If I could start over, I'd make 1 major change to the menu": https://bit.ly/4dEu5kT ------------------------------------------------------ #beefindustry #foodcost #consolidation #ranchers #soexpensive MORE SO EXPENSIVE VIDEOS: Why Big Brands Are Turning To Vanilla From Uganda https://youtu.be/RQNBsiWRXYM Should Organic Food Be So Expensive? https://youtu.be/bG6bXMhy0Ps The Real Reason America's Weapons Are So Expensive https://youtu.be/oslN3LtaBqI Business Insider is a global newsroom covering business, technology, innovation, and the economy. Visit our homepage for the top stories of the day: https://www.businessinsider.com/?utm_source=youtube Sign up for our newsletters: https://www.businessinsider.com/subscription/newsletter?utm_source=youtube Find Business Insider on Facebook: https://www.facebook.com/businessinsider ... on Instagram: https://www.instagram.com/businessinsider ... on X: https://x.com/BusinessInsider ... on TikTok: https://www.tiktok.com/@businessinsider Beef Is More Expensive Than Ever. So Why Are Cattle Ranchers Broke? | So Expensive | Business Insider