Ranchers not making money even as cattle prices surge

The big meatpacking companies are doing a big business as the prices of animal protein sources have risen during the pandemic. Ranchers, however, claim they are losing money on every head of cattle sold. Some have filed lawsuits against Cargill, JBS, Tyson Foods and National Beef claiming that the conglomerates have engaged in price-fixing. The meatpackers, which represent 80 percent of the processed beef market in the U.S., deny the allegations.