Two of the largest beef processors in the US are preparing to pay $87.5 million to settle allegations that they worked together to raise the price of beef.
According to the official settlement website, Tyson Foods and Cargill have agreed to settlements resolving claims brought by consumers who indirectly purchased certain beef products.
The lawsuit alleges several food titans, 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 alleged purpose and effect of this agreement was to increase their margins and increase the price consumers paid for beef.”
Tyson Foods, Inc. and Tyson Fresh Meats, Inc. agreed to pay $55 million, while Cargill, Inc. and Cargill Meat Solutions Corporation agreed to pay $32.5 million, bringing the combined settlements to $87.5 million.
The settlement class includes people 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 chuck, loin, rib or round primal cuts purchased from grocery stores or supermarkets in covered states and jurisdictions.
The court has not ruled that Tyson or Cargill did anything wrong, and the companies deny all allegations of wrongdoing.
The claim deadline is June 30, 2026. A hearing on whether to approve the settlements is scheduled for May 26, 2026 in the U.S. District Court for the District of Minnesota.
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