The Justice Department confirmed its active investigation of potential antitrust violations in U.S. cattle and beef markets, reviewing more than 3 million documents and interviewing industry participants as federal officials scrutinize whether highly concentrated meatpacking power has contributed to high beef prices.

The four largest beef processors control more than 85% of the U.S. processing market — half of which are Brazilian-owned — Trump administration officials noted at a Monday news conference, where acting Attorney General Todd Blanche urged whistleblowers to capitalize on turning in bad actors who are contributing to jacking up meat prices on Americans.

“If the information you provide helps us secure a criminal penalty in excess of $1 million, you can be entitled to recover and receive 15-30% of the money that we recover,” Blanche said, describing the DOJ fraud whistleblower rewards program. He urged ranchers, purchasers, processors and others to report possible price-fixing, bid-rigging, market allocation or procurement fraud.

Agriculture Secretary Brooke Rollins tied the probe to broader concerns about food security and shrinking domestic cattle supplies, saying the U.S. had about 86.2 million head of cattle and calves as of Jan. 1 — “the lowest since the 1950s.”

DOJ REPORTEDLY PURSUING CRIMINAL ANTITRUST PROBE OF MAJOR MEATPACKING COMPANIES

Acting Attorney General Todd Blanche confirmed the antitrust investigation into ongoing Biden-era beef price inflation, making a call for whistleblowers to turn in bad actors in the market. (Kevin Dietsch / Getty Images)

DOJ reportedly pursuing criminal antitrust probe of major meatpacking companies

Addressing the supply side of the economic issue, Rollins said the country has lost more than 17% of its cattle ranchers over the past decade, including more than 100,000 ranches, attributing the reduction to leftist anti-cattle, anti-meat activists’ “alarmism to wage a war on cattle in America“ and “the radical left’s ongoing assault against ranching as a way of life.”

“Growing the herd size is an immediate problem in need of solutions, and we’ve already begun implementing across the government and into the states how we’re going to solve for that,” Rollins said.

Rollins also singled out foreign ownership among major processors, saying two of the “big four” — JBS and National Beef — are Brazilian-owned or have significant Brazilian ownership.

TRUMP ORDERS DOJ TO INVESTIGATE MEATPACKING COMPANIES FOR ‘ILLICIT COLLUSION’ AMID RISING BEEF PRICES

White House trade adviser Peter Navarro, Agriculture Secretary Brooke Rollins and acting Attorney General Todd Blanche laid out the causes for the ongoing Biden-era beef price inflation. (Kevin Dietsch / Getty Images)

“Half of these meatpacking giants, including the largest meat packer in the world, are either foreign-owned or have significant foreign ownership and control,” she said, calling that a threat to U.S. producers and national security.

White House senior trade adviser Peter Navarro said the combination of a historically small cattle herd, dominant processors, leftist lobbyists and Brazilian ownership have combined to fuel ongoing Biden-era beef inflation.

“I hasten to add here that the Brazilians are far more of the problem, and it’s complicated by the fact that the Brazilians, particularly JBS, hands out millions of dollars to our American political system like it’s candy,” Navarro said. “And the rate of return they get on that would make a Wall Street hedge fund blush, and we have got to put a stop to that.

WHY CHEAPER BEEF PRICES ARE STILL A LONG WAY OFF

“You’re going to hear from the ranchers at the front lines what they’ve suffered.

“I can tell you that a small herd and a high concentration ratio [is] a recipe for exactly the kind of beef inflation we are getting.“

DOJ officials did not say when the investigation might result in charges or a lawsuit, but said civil and criminal antitrust inquiries can run in parallel, along with the help of whistleblowers feeding the investigators evidence.

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“Here’s the reason why the whistleblower program is so important: It’s because those are the folks who actually know where the bodies are buried, where the prices are fixed,” Navarro said, alluding to “where the shutdown of a meatpacking house was really not because there was an electrical problem; it was something else.”

“So, I welcome, my friends with the hats — I think that’s a giveaway that they might be the ranchers in the room.”

In a tribute to the grit and sacrifice that built the nation, FOX Business is kicking off Small Business Week by crowning three companies that embody the American spirit as the winners of the first “Made in America” contest.

Marilyn’s (Lakeside, Ohio)

Marilyn Burns, 82, has owned and operated her local souvenir shop in the heart of Lakeside since 1999. Her store is a community staple that also funds youth camps and serves as a generational anchor for families.

“Since I’ve been here 26 years, my first customers are bringing their kids in,” Burns previously told the Lakesider. “We shouldn’t take it for granted because a lot of work has gone into making [the ‘happy town’] what it is.”

TGU Home Solutions (Aberdeen, North Carolina)

U.S. Army veteran Jared Gay is the founder of TGU Home Solutions, a construction firm fully staffed by veterans. His company makes a point to provide a bridge for service members transitioning to civilian life, all while building custom homes at prices that “reflect integrity rather than excess.”

JPMORGAN CHASE LAUNCHES AMERICAN DREAM INITIATIVE TO EXPAND SMALL BUSINESS SUPPORT ACROSS THE U.S.

“I left the military in 2003,” Gay told “The Bottom Line” in April, “and I had a pretty hard time with my exit… and we changed it into, how to build a home, instead of how to run a military operation… we try to give back every day.”

The sun flares below the U.S. flag on the National Mall on April 18, 2024, in Washington, D.C. (Getty Images)

Four Branches Bourbon (Bardstown, Kentucky)

Four great friends who represent each branch of the military forces – the Army, Navy, Air Force and Marines – blend and bottle their own award-winning bourbon as a tribute to “those who serve in the shadows,” their website reads.

Together, Mike, Rick, RJ and Harold are dedicated to exceptional bourbon craftsmanship while directly offering support to veterans, their families and first responders.

These three finalists represent the spirit of entrepreneurship, community service and military sacrifice that defines the American story. They will each receive a cash prize of $25,000 and a featured special on Fox Nation.

A panel of judges, which included FOX Business hosts and executives, determined the three winners from thousands of applicants that were whittled down to the top 10 finalists on April 13.

“For 250 years, small businesses have been the backbone of America,” “Mornings with Maria” and “Sunday Morning Futures” host Maria Bartiromo said.

“Built by people who took a chance on themselves and their communities,” “Kudlow” host Larry Kudlow said.

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“These are the places where the American story is written,” “Making Money” host Charles Payne said.

“The Bottom Line” and “The Big Money Show” co-host Brian Brenberg said, “FOX Business is shining a light on the independent hops that keep our country moving.”

The FOX Business “Made in America” campaign was made possible by sponsors JPMorgan Chase and Comcast Business.

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FOX Business’ Hanna Panreck contributed to this report.

America’s “Cradle of Liberty” is fast becoming the cradle of high costs.

With home prices nearly double the national average, Boston is facing a generational drain as high-skilled workers flee the city’s rising cost of living for greener — and cheaper — pastures in the South.

According to the 2026 Young Residents Survey, commissioned by the Greater Boston Chamber of Commerce Foundation, there is a growing crisis of confidence among the city’s most vital demographic: 26% of residents ages 20 to 30 plan to leave the Boston metro area in the next five years.

Additionally, the area’s life satisfaction rate has fallen from 89% to 79% in just a three-year period. Seventy-eight percent of respondents cited the cost of rent as the catalyst, while 72% cited the inability to buy a home as the primary reason for leaving.

$150K OVER ASKING ISN’T ENOUGH: NJ REAL ESTATE AGENT WARNS ‘AVERAGE PERSON’ IS BEING PRICED OUT

Of those planning to leave the Northeast, nearly half are heading south.

Young Bostonians ages 20 to 30 are increasingly planning to leave the city in the next five years. (Getty Images)

“As the region struggles with a housing crisis, young residents across demographics shared concerns regarding housing availability and affordability,” the Foundation said in a press release. “When asked about the most urgent issues for local leaders, respondents noted that housing, health care accessibility and availability of quality jobs should be prioritized.”

The median asking rent in Boston sits at $2,918 as of March, Realtor.com data shows, which surpasses rents in New York City, San Francisco and Los Angeles. Its median home listing price is $832,500, almost double the national median.

While the city produces thousands of graduates from Harvard and MIT, many can no longer afford to stay and contribute to the local economy.

“Young residents bring vitality and innovation to Greater Boston, building communities and leading our economic growth. However,” the Foundation said, “the region’s affordability continues to be a concern as young residents struggle to seize opportunities that outweigh challenges, like housing and career growth. Competitor states that are more affordable may be appealing to young residents who are eager to find housing to rent or purchase that is more affordable and accessible.”

Despite Gov. Maura Healey’s $5 billion-plus Affordable Homes Act, the state’s progress has been slow to nonexistent, leaving residents frustrated with the lack of results. Massachusetts even received an “F” grade on the Realtor.com State-by-State Housing Report Card for falling behind on affordability and construction.

“Over the last three-and-a-half years, we’ve got 100,000 homes in the pipeline. Is it enough? No,” Gov. Healey said during a recent radio segment. “I need every community in the state to understand that housing is fundamental to the vibrancy of our neighborhoods.”

Economists warn that while a mass exodus might temporarily cool rent prices, the long-term damage to the labor market and innovation sector could be permanent.

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“Boston’s young people are overwhelmingly high-skilled college graduates who play an important role in the job market, entrepreneurship and innovation scene, and the local service economy, too,” Realtor.com senior economist Jake Krimmel told the real estate outlet.

“That’s the root of Boston’s rental market crisis: a seemingly never-ending supply of young, educated renters but never enough supply of rental housing for them,” he added.

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DUBAI, United Arab Emirates — Tensions erupted in the Strait of Hormuz on Monday as the United States launched “Project Freedom” to guide stranded commercial vessels through the vital waterway, only for conflicting claims of attacks to surface within hours. The UAE accused Iran of drone strikes on an oil tanker, while Iranian media alleged a missile hit on a U.S. warship — a claim swiftly denied by American forces.

U.S. Central Command confirmed two American-flagged merchant vessels successfully transited the strait as part of the operation announced by President Donald Trump. CENTCOM also reported guided-missile destroyers operating in the Gulf after passing through the waterway, emphasizing support for commercial shipping and enforcement of a naval blockade on Iranian ports.

“No U.S. Navy ships have been struck,” CENTCOM stated on X. “U.S. forces are supporting Project Freedom and enforcing the naval blockade on Iranian ports.”

The operation aims to free dozens of tankers and cargo ships trapped in the Persian Gulf since the recent U.S.-Israeli conflict with Iran disrupted transit. Trump described the effort as a “humanitarian” move to assist vessels running low on supplies, deploying significant assets including over 100 aircraft, unmanned platforms and 15,000 personnel.

UAE Condemns Iranian Drone Attack on Tanker

The United Arab Emirates strongly condemned what it called an “Iranian terrorist attack” on a tanker linked to state-owned Abu Dhabi National Oil Company (ADNOC). The vessel was targeted by two Iranian drones while attempting to pass through the strait, according to the UAE Foreign Ministry. No injuries were reported.

Senior UAE official Anwar Gargash described the incident as “an act of maritime piracy.” The attack occurred amid heightened alerts, marking the first missile alert in the UAE since an earlier ceasefire.

UK Maritime Trade Operations separately reported a tanker struck by unknown projectiles about 78 nautical miles north of Fujairah, UAE, with all crew safe. Another cargo ship faced assault by multiple small craft nearby.

Iranian Claims and U.S. Rebuttals

Iranian state media, including Fars news agency, claimed Iranian forces struck a U.S. Navy frigate with two missiles after it ignored warnings near Bandar-e-Jask. Tehran said it forced the warship to turn back and warned any foreign forces entering the strait would be targeted.

A senior Iranian official told Reuters a warning shot was fired. Iran’s Islamic Revolutionary Guard Corps rejected U.S. assertions that commercial ships crossed the strait, calling them “baseless lies.”

CENTCOM and U.S. officials firmly denied any damage or successful strike on American vessels. The denials came quickly after Iranian reports, underscoring a pattern of competing narratives in the volatile region.

Background on Project Freedom

Trump unveiled the initiative Sunday, pledging U.S. support to reopen the strait, a chokepoint carrying about 20% of global oil trade. Ships have been stranded for weeks due to Iranian threats and the broader conflict, disrupting energy markets and supply chains.

U.S. officials indicated the operation focuses on coordination and guidance rather than direct escorts for every merchant vessel in the initial phase. Destroyers and air assets provide overwatch. The move follows a fragile ceasefire, raising fears of renewed escalation.

Iran views the U.S. action as a violation of the truce and has threatened retaliation. Its military warned commercial vessels against uncoordinated movements.

Global and Economic Implications

The incidents sent oil prices spiking early Monday amid fears of prolonged disruption. Shipping companies expressed caution, with some rerouting vessels around Africa despite higher costs. Insurance rates for Gulf transit have surged.

International reaction was swift. Allies in the Gulf expressed support for freedom of navigation, while calls for de-escalation came from European capitals. The UK and others monitor the situation closely through maritime agencies.

Analysts warn that miscalculations in the narrow strait — just 21 miles wide at its narrowest — could trigger wider conflict. Historical incidents, including 2019 tanker attacks attributed to Iran, highlight the risks.

Regional Context and Ceasefire Fragility

The strait has been a flashpoint since the U.S.-Israeli campaign against Iranian nuclear and proxy assets. The ceasefire, reached in early April, appeared to hold tenuously until recent provocations. Project Freedom tests its limits.

Iran maintains it controls access and will defend its waters. The U.S. insists on upholding international norms for open maritime passage. Negotiations continue behind the scenes, with Trump hinting at possible “very positive” outcomes from indirect talks.

For crews on stranded ships, the operation brings hope but also danger. Seafarers have reported dwindling supplies and anxiety over potential attacks.

What’s Next

U.S. forces plan continued operations to guide additional vessels in coming days. CENTCOM has not detailed exact numbers or timelines but stressed a phased approach. Iran’s response could determine whether the first day’s chaos escalates or stabilizes.

Diplomatic efforts intensify as the UN and regional players urge restraint. Markets and militaries worldwide watch closely, aware that events in the Strait of Hormuz ripple across the global economy.

As night fell Monday, reports of further incidents remained unconfirmed. Authorities urged vigilance, while shipping associations advised members to await official clearances before attempting transit.

The chaotic launch of Project Freedom underscores persistent volatility in U.S.-Iran relations and the high stakes for energy security. Whether Monday’s dueling claims lead to diplomacy or deeper confrontation will shape the region’s trajectory in the weeks ahead.