Wednesday, August 25, 2021

Pork price-fixing lawsuit filed

Jetro Holdings of New York has filed a lawsuit against major United States pork processors claiming they illegally shared information that led to it having to pay more for about $20 billion of pork it bought annually from 2009 to 2017.

The lawsuit is similar to ones others have filed against poultry processors. In both products Agri Stats Inc. is included.

The defendants include Clemens Food Group, Hormel Foods Corp., JBS USA, Seaboard Foods, Smithfield Foods, Triumph Foods and Tyson Foods, according to the filing in New York District Court.

The producers allegedly violated the Clayton Antitrust Act of 1914 by working together with data provided by Agri Stats Inc. to “fix, raise, maintain and stabilize pork prices.

None of the companies named have commented so far.

The suit references similar accusations contained in the continuing broiler antitrust lawsuit filed in a federal court in Chicago in 2016 against several of the defendants in the New York filing.

Several companies, including Tyson, settled parts of the broiler lawsuits earlier this year, while Smithfield agreed to pay $83 million and JBS paid $13 million to settle similar allegations of pork price-fixing filed in a federal court in Minnesota in 2018..