The U.S. Department of Justice announced what it called a “historic settlement” with agricultural data company Agri Stats, saying the agreement is aimed at lowering meat prices and increasing competition in the food supply chain.
In a series of posts on social media Thursday, Acting Attorney General Todd Blanche said the settlement targets Agri Stats’ long-standing business model, which federal officials argue allowed major meat producers to share confidential business information in ways that disadvantaged buyers such as grocery stores and restaurants.
Blanche said the information-sharing practices contributed to rising prices for chicken, turkey and pork products across the country.
“Under this business model, the prices of meat only went up and YOU, the American consumer, were left holding the bill,” Blanche wrote.
According to Blanche, the settlement will now require Agri Stats to make its market reports available to both buyers and sellers across the supply chain instead of limiting access primarily to meat producers.
Federal officials say the change is intended to create a more level playing field in the marketplace and reduce anticompetitive behavior within the meat industry.
Blanche credited the agreement to efforts by the Justice Department’s Antitrust Division, Agriculture Secretary Brooke Rollins, White House trade adviser Peter Navarro, and six unnamed states that joined the settlement.
The Acting Attorney General also tied the agreement to President Donald Trump’s economic agenda, saying the administration is focused on bringing affordability to American consumers.
“This DOJ will never stop fighting for the American people,” Blanche wrote.
The Justice Department has not yet released additional details on how quickly consumers could see price impacts from the settlement.