From out here where the Buffalo (and cattle) roam, the initial premise is a bit bogus.
Yes, the meat packers have always taken a hefty cut as middlemen, but the herd is down, and on the hoof prices are up.

COVID low prices, coupled with high fuel costs, caused the herds to be culled and diminished, and they haven't been rebuilt. There is at least a three year delay before domestic beef supply has increased and prices start coming down.