I would say the issue is that antitrust officials stood idly by and allowed extreme market consolidation
>For four decades, the U.S. government has watched idly as a handful of largely foreign-owned meat corporations grew horizontally by killing off or gobbling up their competitors and vertically by gobbling up their supply chains. Today four massive companies – JBS, Tyson Foods, National Beef, and Cargill – control over 80 percent of America’s beef. Three companies – JBS, Tyson, and Smithfield Foods – control 63 percent of America’s pork. Two of those – JBS and Tyson – also control 38 percent of poultry.
https://lpeproject.org/blog/break-up-the-modern-meat-trust/
Historically, we last saw this sort of cartel acting in the US 100 years ago leading to legislation that has slowly been whittled away until the problem has returned.
This usually happens when there is already a natural monopoly (or near to) - and usually results from regulatory capture [1].