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AP National Business

Biden to meet with farmers as he seeks to cut meat prices

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Published 4:33 AM

By JOSH BOAK
Associated Press

President Joe Biden will meet virtually with independent farmers and ranchers. Biden on Monday is discussing initiatives with them to reduce food prices by increasing competition within the meat industry. The White House event is part of a broader effort to show the administration is trying to combat inflation. Consumer prices in November rose 6.8% over the prior 12 months. That’s a 39-year high. The administration is targeting meat processing plants. The White House says the top four companies control 85% of the beef market. Biden plans to stress the plans to distribute $1 billion from the coronavirus relief package to help independent meat processors expand.

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