$83.5 Million Cattle Antitrust Class Action Settlement

If you directly sold fed cattle for slaughter to one of the four largest U.S. meat packers between June 1, 2015 and February 29, 2020 (excluding sales under a Cost-Plus or Profit Sharing Agreement), or if you held and liquidated a long position in Live Cattle Futures on the Chicago Mercantile Exchange during the relevant period, you may be eligible to submit a claim for a payment from a $83.5 million a class action settlement.

JBS USA Food Company, Swift Beef Company, JBS Packerland, Inc., and JBS S.A. (collectively, JBS) have agreed to pay $83.5 million to settle a class action lawsuit. The class action lawsuit alleges that JBS and other major meat packers conspired to reduce competition and suppress prices paid to cattle producers, in violation of federal antitrust and commodity laws.

Who can file a claim for a settlement payment?

The court has approved the following classes:

• Producer Class:
• Any person or entity in the United States who directly sold one or more fed cattle to one or more of the Defendants for slaughter between June 1, 2015 and February 29, 2020.
• Sales were not made under a Cost-Plus Agreement or a Profit Sharing Agreement.
• Unfinished cattle sales (calves or feeder cattle), breeding animals, cull cows, and cull bulls are not eligible.

• Exchange Class:
• Any person or entity who held a long position in Live Cattle Futures traded on the Chicago Mercantile Exchange prior to June 1, 2015, and subsequently liquidated the long position through an offsetting market transaction at any point prior to November 1, 2016.
• The Live Cattle Futures included in the contract include the following contracts: LEM5, LEQ5, LEV5, LEZ5, LEG6, LEJ6, LEM6, LEQ6, and LEV6.

How much is the class action payout?

The total settlement fund is $83.5 million, but the amount each class member receives will depend on the number and size of valid claims. The fund is divided into two pools: one for Producer Class claims and one for Exchange Class claims. Payments are distributed on a pro rata basis, meaning your share is determined by your qualifying sales or trading activity compared to the total submitted by all claimants.

• Producer Class: Payment amount is based on the total compensation received for qualifying fed cattle sales to any Defendant during the designated class period.
• Example: If the total valid claims for fed cattle sales amount to $500 million and your qualifying sales were $500,000 (0.1% of the total), you would be eligible for 0.1% of the Producer Class settlement fund pool.

• Exchange Class: Payment is based on the size of the long Live Cattle Futures position held and subsequently liquidated during the class period.
• Example: Your qualifying futures position represents 2% of all valid Exchange Class claims, your payment would receive 2% of the Exchange Class pool.

How to claim a class action settlement payment

To claim a class action rebate, class members must submit a claim. You can file a claim online or download and print a PDF claim form to complete and mail to the settlement administrator mail.

All claims must be submitted online or postmarked by the September 15, 2025 deadline.

Settlement Administrator's mailing address: Cattle Antitrust Settlement, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103

Is proof required to submit a claim?

Yes, all claimants must include supporting documentation with their claim.

• Producer Class: Proof of fed cattle sales, such as close-out sheets, sales reports, feedyard records, or reports from custom feedyards or marketing cooperatives.

• Exchange Class: Proof of Live Cattle Futures trades, such as brokerage statements, trade confirmations, or other records showing the size and timing of your positions.

Payment options

Claimants can select from these payout methods:

• PayPal
• Venmo
• Zelle
• Virtual Prepaid Card
• Paper check mailed to address provided on

$83.5 Million class action settlement fund breakdown

The $83,500,000 million will cover the following:

• Attorneys' fees: Up to $27,830,000
• Litigation expenses: Up to $8,500,000
• Future litigation fund: Up to $3,500,000
• Service awards to class representatives: Up to $30,000 each
• Settlement administration costs: To be determined
• Payments to class members: The remainder of the settlement fund after the above deductions

Important dates

• Deadline to File a Claim: September 15, 2025
• Fairness Hearing: August 15, 2025

When is the Cattle antitrust settlement payout date?

The final hearing will take place on August 15, 2025. Payments will be issued to approved claimants after the court grants approval, and any appeals are resolved.

Why was there a class action lawsuit?

The lawsuit alleges that JBS and other major meat packers conspired to reduce or eliminate competition for the purchase of fed cattle, artificially suppressing prices paid to cattle producers. Plaintiffs also allege manipulation of Live Cattle Futures prices. JBS denies all wrongdoing but agreed to settle to avoid the risks and costs of ongoing litigation. The settlement allows eligible class members to receive compensation without the uncertainty of trial and appeals.

Sources

1. Class Notice
2. Settlement Website FAQ Page
3. Plan of Allocation