U.S. Meat Firms Fall After White House Remarks on Consolidation

(Bloomberg) -- Stocks for meat companies are down Wednesday after the White House said consolidation in the industry was a concern. 

Agriculture Secretary Tom Vilsack said in a news briefing that the government is moving to strengthen regulations and price discovery in the meat industry, and that American farmers are losing money.

Read: White House Says Meatpacker Consolidation Raising Grocery Bills

Sanderson Farms Inc. dropped 1%, JBS SA declined nearly 2%, and Tyson Foods Inc. lost 0.3% in the wake of the comments.

The companies didn’t immediately respond to requests for comment.

©2021 Bloomberg L.P.