Texas AG – Texas Attorney General Ken Paxton announced a May 15 antitrust probe into the nation’s largest meatpackers, citing the industry’s concentration and the possibility that four companies used market power to underpay ranchers while raising beef prices for consume
On the same day Texas Attorney General Ken Paxton stepped into the fight over grocery prices, his office pointed to a picture of the beef business that leaves little room for comfort: four major meatpackers control most of the market, and beef costs are already running hot.
Paxton announced he is launching an “antitrust probe to protect the nation’s beef supply chain” in a news release on May 15. The probe is directed at the largest meatpackers, with Paxton partnering with the Department of Justice as consumers face higher beef prices.
The case Paxton wants to build starts with concentration. In the news release. Paxton said the beef meatpacking industry is highly concentrated. with four companies—JBS S.A. Tyson Fresh Meats. Inc. Cargill. Inc. and National Beef Packing Co.—that control over 85% of the nation’s beef processing market. He argued that such concentration can translate into leverage over both cattle producers and consumers.
“This level of consolidation has given these corporations significant market power over both cattle producers and consumers. ” the news release stated. Paxton went further. alleging that these firms may have used their dominance to decrease the prices paid to cattle ranchers while driving up beef prices for consumers. The release said the four firms have “reaped enormous profits” at the expense of Texas cattle ranchers and consumers nationwide.
Beef prices, Paxton’s office pointed out, have moved in the wrong direction for shoppers. Beef prices were 12.1% higher in March 2026 than in March 2025, and are predicted to increase another 6.3% in 2026, according to the United States Department of Agriculture.
Paxton framed the probe as a direct defense of both sides of the chain—ranchers who sell cattle and families who buy food. “Texans deserve fairly priced beef and our state’s cattle ranchers deserve to be paid fairly for their hard work. ” he said in the release. “If major meatpackers manipulated the market to underpay ranchers while forcing families to pay higher prices at the grocery store. we will hold them accountable. My office will aggressively investigate any violations of antitrust law to protect fair competition, ranchers, and Texas consumers.”.
The release also included a practical on-ramp for people inside the industry who believe they have relevant evidence. Paxton encouraged any industry participants with concerns about potential antitrust violations. including price fixing or market manipulation. to contact the Office of the Attorney General’s Antitrust Division with information at antitrust@oag.texas.gov.
The numbers feeding the probe are visible even outside court filings. The average price of ground beef per pound in the United States was $6.899 as of April 2026. according to the Federal Reserve Bank of St. Louis. That average is up by more than a dollar from the prior year: in April 2025. the average cost of a pound of ground beef was $5.801.
Across the release. the message is built from a single chain of facts: a small set of companies controls most of beef processing. beef prices are rising year over year. and Paxton’s office is looking for whether dominant players contributed to the gap—by lowering what ranchers receive while increasing what consumers pay.
For now. Paxton is asking the Department of Justice to join in an antitrust effort aimed at the biggest names in meatpacking. The immediate result is a spotlight on industry behavior—especially claims of price fixing or market manipulation—as consumers weigh higher grocery bills and Texas ranchers brace for what comes next.
Ken Paxton Texas AG antitrust probe beef prices meatpackers JBS Tyson Fresh Meats Cargill National Beef Packing Department of Justice USDA ground beef prices