Psaki repeated the same claims on Tuesday afternoon.
“Just four large conglomerates control the majority of the market for beef, pork, and poultry products, and the data show … that there have been increases in meat prices while the companies have generated recent record profits,” Psaki said in response to a reporter during her press briefing.
“If you look at historical precedent here, 50 years ago ranchers got over $0.60 for every dollar a family spent on beef. Today, they get about $0.39,” she added. “50 years ago, hog farmers got $0.40 to $0.60 for each dollar they spent. Today, it’s about $0.19, and the big companies are still making major profits.”
“It certainly shouldn’t work that way,” Psaki concluded. “As the President said many times, capitalism without competition isn’t capitalism, it’s exploitation. And we have continued concern about the lack of competition in these industries.”