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McDonald's recently sued some of their beef suppliers alleging that the companies purposely reduced their output to force a hike in prices. McDonald's claims that Tyson Foods, Cargill, JBS and National Beef, who control more than 80% of beef sold in the U.S., have been colluding since 2015. This practice has reportedly cost cattle producers that sold animals to the meat packers for slaughter billions of dollars since its inception. BJ's Wholesale, Sodexo, Target and Aldi have related lawsuits that have been consolidated in Minnesota federal court. Back in 2020, Chick-fil-A sued Perdue, Pilgrim's, and Tyson claiming they were victims of the same type of scheme, but with poultry. Smithfield Foods agreed to pay 42 million dollars to restaurants that claimed Smithfield inflated the price of pork. Huge restaurant chains have some form of recourse but the average consumer doesn't. As far as cattle are concerned, there were reports that herds are shrinking due to droughts. Once again, hiccups in the supply chain are partly to blame as well even though it's been almost five years since the Covid outbreak. Senator Elizabeth Warren introduced the Price Gouging Prevention Act of 2024 in February 2024 but no action has been taken on the bill since May of 2024. It may need to be re-titled the Price Gouging Prevention Act of 2025, or 2026 at this point. Click here