In a social media post, Trump accused meatpacking companies of “driving up the price of beef through illicit collusion, price fixing, and price manipulation”.

“We will always protect our American Ranchers,” Trump vowed on his Truth Social platform, adding that they were being “blamed” by the actions of meatpacking firms.

The president’s call came as the price of ground beef topped US$6 per pound for the first time in recent months, with meat costs surging in part due to a tighter supply of cattle.

The Texas Farm Bureau noted in August that the US cattle herd is at its lowest level in more than 70 years, leading to a drop in domestic supplies.

Costs have been up for various reasons, including drought and lower imports from Mexico due to a pest in herds there.

But all of this adds to cost of living pressures American households are facing, seen as a contributing factor to losses by Trump’s Republican Party in several high-profile elections this week.

On Friday, Trump blamed meatpackers for “artificially” inflating prices and putting US food security at risk.

He said there was a need for immediate action to “protect consumers” and “combat illegal monopolies”.

“I am asking the DOJ to act expeditiously,” Trump added, referring to the department of justice.

Last month, Trump suggested lowering prices by raising imports from Argentina, but this possibility quickly drew ire from the cattle industry.

The National Cattlemen’s Beef Association warned at the time that such a move “undercuts the future of family farmers and ranchers”.

The US Cattlemen’s Association, meanwhile, argued that “the current price of beef on grocery store shelves reflects the true, inflation-adjusted cost of raising cattle in America today”.