Two of the largest U.S. beef processors are preparing to pay $87.5 million to settle allegations that they worked together to raise beef prices.
According to the official settlement WebsiteTyson Foods and Cargill have agreed to settle claims brought by consumers who purchased certain beef products indirectly.
The lawsuit alleges that several food giants, including JBS, Cargill, National Beef and Tyson Foods, entered into a market allocation agreement and stopped competing against each other for market share.
As stated on the settlement website
“The purported purpose and effect of this agreement was to increase profit margins and increase the price consumers pay for beef.”
Tyson Foods, Inc. approved. and Tyson Fresh Meats, Inc. to pay $55 million, while Cargill, Inc. agreed to pay $55 million. and Cargill Meat Solutions Corporation to pay $32.5 million, bringing the total settlement to $87.5 million.
The Settlement Class includes persons and entities who indirectly purchased certain fresh or frozen beef products for personal consumption between August 1, 2014 and December 31, 2019.
Eligible beef products include beef cuts, loin, rib, or prime round cuts purchased from grocery stores or supermarkets in the covered states and jurisdictions.
The court did not rule that Tyson or Cargill did anything wrong, and both companies deny all allegations of wrongdoing.
The claim deadline is June 30, 2026. A settlement approval hearing is scheduled for May 26, 2026 in the U.S. District Court for the District of Minnesota.
Follow us on X, Facebook and cable
Never miss a beat – Subscribe Get email alerts delivered directly to your inbox
browse Hodel’s daily mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: mid-flight
