Comment Re:You're seeing this with beef prices (Score 2) 29
85% of the meat packing industry in the US is owned by four multinational megacorps:
Tyson Foods (U.S.-owned)
Cargill (U.S.-owned)
JBS (Brazilian-owned)
National Beef (Brazilian-owned)
They are very obviously operating as a cartel. They have faced legal action to this effect, though nothing with real teeth.
I don't really see why McDonald's is relevant since they don't produce the beef, they are a buyer of it. Be that as it may, cartel behavior is harmful to the economy and is an inevitable result whenever the market is dominated by a small number of players like this. It is just outright obvious to all of them that collusion is more profitable than competition, at that point.
Any capitalist economy must rely on government intervention to break these up and/or regulate them. Capitalism collapses under the weight of anti competitive forces otherwise.