According to emoneydaily.com, McDonald’s is raising prices to reflect increases in the cost of beef:
McDonald’s (NYSE:MCD) Chief Financial Officer Pete Bensen said, “As commodity and other cost pressures become more pronounced as we move throughout the year, we will likely increase prices to offset some but not necessarily all of these cost increases….”
That’s bad for the restaurant chain’s customers’ wallets. But is it bad overall? Consider the alternatives. They could try to squeeze producers (in the way that Walmart is famous for, for example). Or they could use less beef. As an example of how that’s possible, note that Taco Bell is now facing a lawsuit over the relatively small amount of beef in its “beef:”
…it was found that Taco Bell’s “meat mixture”, which it dubs “seasoned beef” contained less than 35 % beef. If these figures are correct, the product would fail to meet minimum requirements, set by the U.S. Department of Agriculture, to be labeled as “beef”. The other 65% of the “meat” is made up of water, soy lecithin, maltodextrin, silicon dioxide, anti-dusting agent and modified corn starch….
It’s also worth noting that it’s not obvious which product (100% beef or Taco Bell’s weird mix) is healthier or greener. I have no idea. But anyone who thinks it’s bad, health-wise or environmentally, to eat a lot of beef, has to suspect that it’s at least not a terrible thing in principle for a beef filling to contain less than 100% beef.