By: Richard L. Smith
New Jersey consumers already feeling the pressure of higher grocery bills may be interested in a widening federal investigation examining what Americans are paying for beef at some of the nation’s largest retailers.
According to information released by the U.S. Department of Justice, its Antitrust Division has expanded an investigation into beef affordability to include eight major retailers: Walmart, Costco, Aldi, Amazon, Kroger, Albertsons, Publix and Ahold Delhaize USA.
For New Jersey shoppers, the investigation hits particularly close to home. Walmart, Costco, Aldi and Ahold Delhaize-owned supermarket operations have a significant retail presence in the state, putting some of the stores where residents routinely purchase groceries within the broader national discussion over beef prices.
Federal officials said Associate Attorney General Stanley Woodward sent letters to the companies concerning recent increases in retail beef prices.
The inquiry expands an investigation that had already been examining the nation’s major meatpacking companies and whether anticompetitive conduct has contributed to the soaring cost of beef.
Reuters reports that Tyson Foods, Cargill, JBS USA and National Beef Packing Company account for roughly 85% of the slaughter of U.S. grain-fed cattle used for steaks, roasts and other supermarket beef products. Beef prices reached record levels earlier this year.
The investigation itself does not mean the retailers have been found guilty of wrongdoing.
Federal authorities are examining the market and the factors behind rising prices as families in New Jersey and across the country continue to feel the impact at supermarket checkout counters.