Tyson, Smithfield, and Others Now Under Senate Scrutiny for Pork Exports

Additional investigations into meat-packing company practices during the COVID-19 pandemic are now looming for Tyson Foods (NYSE: TSN), along with privately held Smithfield Foods, JBS Foods International, and Cargill. The U.S. Senate scrutiny centers on alleged actions taken in the pork market, including shipping large quantities of the meat to China during the coronavirus outbreak while ratcheting up prices for American consumers.

Sen. Cory Booker, a New Jersey Democrat, and Sen. Elizabeth Warren, Democrat of Massachusetts, sent a letter to each of the four companies, stating the meat-packers exported a combined 1.3 billion pounds of pork and beef starting from March 20 through June. Addressing the leading executives of the companies, the senators questioned "your honesty with the American public about the reasons for higher food prices, and your commitment to providing a safe, affordable, and abundant food supply for the nation."

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Source Fool.com