DoJ requests beef price data from major retailers including Amazon and Walmart

Investing.com -- The US Justice Department has expanded its antitrust investigation into the meatpacking industry by requesting information on beef prices from eight major food retailers.

The Department of Justice said Tuesday in a social media post that Associate Attorney General Stanley Woodward sent letters in July to Amazon.com Inc., Costco Wholesale Corp., Walmart Inc., Albertsons Cos., Kroger Co., the US unit of Koninklijke Ahold Delhaize NV, Publix Super Markets Inc. and Aldi Inc.

The letters, dated July 14, requested that the retailers provide investigators with information about their beef purchasing and strategy, retail pricing, profit margins and market analysis for the past six years.

The Justice Department began examining potential antitrust violations in meatpacking in May. President Donald Trump publicly requested the investigation last year as beef prices reached record levels. Woodward is overseeing antitrust enforcement at DOJ while the Senate considers Trump's nominee for the role.

Ground beef averaged $7.116 per pound in July, according to the US Bureau of Labor Statistics. The price has remained near an all-time high, making beef one of the main contributors to food inflation.

Trump recently announced plans to allow up to 300,000 metric tons of beef imports at lower tariff rates over the next 90 days to increase supplies. The move comes ahead of the midterm elections in November.

Walmart said in July that it would reduce prices on seasonal products, including beef.

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