Multiple major meat companies proposed a 7.98 million Canadian dollar court settlement on Thursday, July 9, 2026, to resolve allegations of conspiring to fix beef prices for consumers across Canada.
The agreement, which requires court approval, does not constitute an admission of wrongdoing by the involved corporations.
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Under the proposed terms, JBS USA Company, Swift Beef Company, JBS Packerland Inc., and JBS Canada ULC will jointly pay $7.49 million, while National Beef will contribute $495,000.
The nationwide legal action, originally filed in 2022, remains active against remaining co-defendants Cargill and Tyson.
Impact on Consumers
Statistics Canada data underscores the impact of soaring meat costs, revealing that average retail prices for a kilogram of striploin jumped from $21.94 in January 2017 to $35.30 in May 2026, while ground beef rose from $9.12 to $16.07 over the same period.
Conner Macdonald, a butcher and general manager at Windsor Quality Meats in Vancouver, stated that customers are increasingly switching to cheaper proteins like pork or chicken due to astronomical price hikes over the last eight years.
"Even with Christmas and Thanksgiving and all the holidays, it’s harder for people to justify getting the big prime rib for the whole family when it ends up being over $1,000 for them," said Macdonald.
The retail worker noted that distribution networks previously attributed the rising costs to factors such as tariffs, feed, and fertilizer.
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