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Dear John,
When a handful of giant corporations control entire industries, they can raise prices with impunity and rake in record profits. You’d be hard pressed to find a better example of this type of monopoly power than in today’s meatpacking industry.
Just four firms control 85% of all beef, 66% of all pork, and 54% of all poultry. This degree of monopolization is hurting farmers — and your pocket book.
Our latest video explains how corporate monopolies are slowly killing rural America and driving up the price you pay for food.
Monopolists control nearly every part of the food production process, from selling feed to farmers, to packaging the meat and poultry for supermarkets. Half of all chicken farmers report having just one or two processors to sell to.
Farmers are essentially forced to buy from and sell to monopolies at whatever price the corporation wants – often taking on crushing debt to do so.
And here’s the kicker: Even though farmers are getting squeezed, the “Big Ag” monopolists are also charging you higher prices. During the pandemic, beef prices rose nearly 16% — and the four biggest beef companies’ profits rose more than 300 percent.
Big Ag corporations are using their monopoly power to fix prices, screw over farmers, and charge you more for food. They need to be held accountable.
It won’t be easy, but there are ways we can fight back. I say take them on.
Don’t just take my word for it, check out the video and hear what farmers have to say themselves.
Thanks for watching,
Robert Reich
Inequality Media Civic Action
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