President Trump on Friday accused foreign-owned meat packers of driving up the price of beef in the U.S. and asked the Department of Justice to open an investigation.

The president announced the move on social media days after his party suffered losses in key elections in which the winning Democratic candidates focused relentlessly on the public's concerns about the cost of living. Mr. Trump, however, has insisted grocery prices are down, with some exceptions. The president said the price of boxed beef is "fishy."

"I have asked the DOJ to immediately begin an investigation into the Meat Packing Companies who are driving up the price of Beef through Illicit Collusion, Price Fixing, and Price Manipulation," Mr. Trump wrote in the social media post.

"We will always protect our American R

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