The Supply Shock Is Real. The 40-Year Cartel Is What Bloomberg Missed.

The DOJ confirmed on May 4, 2026 that the Big Four meatpackers — controlling 85% of U.S. beef processing — are under active antitrust investigation, with 3 million documents reviewed and criminal tracks running parallel to civil. Bloomberg's supply-shock narrative explains today's prices. Forty years of structural concentration explains who pays for them tomorrow.