Beef prices on the rise...restaurants trying to cope

[conjur]

Article

Industry experts explain the increased demand on beef with several factors, including the popularity of protein diets like Atkins, smaller cattle herds, and closing off the Canadian beef market because of Mad Cow Disease

mmmm....beef

 

[T2T III]

I heard about the beef price increases a few weeks back on MSNBC - or a similar station. Companies like McDonald's, Wendy's and the Outback Steakhouse are going see lower profits in the coming year due to beef price increases. That is, unless, they raise their prices for us consumers, too.

 

[Chaotic42]

I guess we're going to have to start eating more cuddly animals.

Mmmm, snuggly.

 

[tk149]

Want steak. NOW!

 

[Dudd]

Whew, I read it as beer prices on the rise. What a tragedy that would be. Still very sad, though.

 

[KLin]

Originally posted by: Tiles2Tech
I heard about the beef price increases a few weeks back on MSNBC - or a similar station. Companies like McDonald's, Wendy's and the Outback Steakhouse are going see lower profits in the coming year due to beef price increases. That is, unless, they raise their prices for us consumers, too.

Isn't that what companies always do? If they want to keep their bottom line growing, make the consumer pay more. Good old Capitalism

 

[PanzerIV]

Originally posted by: KLin

Originally posted by: Tiles2Tech
I heard about the beef price increases a few weeks back on MSNBC - or a similar station. Companies like McDonald's, Wendy's and the Outback Steakhouse are going see lower profits in the coming year due to beef price increases. That is, unless, they raise their prices for us consumers, too.

Isn't that what companies always do? If they want to keep their bottom line growing, make the consumer pay more. Good old Capitalism

Yup. Noboby forces us to eat that 1,000 calorie heart attack on a bun a.k.a Big Mac

 

[BigSmooth]

I work at a restaurant and two of our stores are high-end steakhouses that only serve Prime beef. Believe me, these costs are crippling. We have had to raise prices pretty significantly lately to cope with the ridiculous beef costs.

Even at our other stores which use Select or Choice beef, the costs have skyrocketed. We are also running lots of seafood specials so try and get people to not order beef. I can only imagine what a company like Morton's or Ruth's Chris is going through.

The price we are getting from our wholesaler on Prime Tenderloin (Filet Mignon) is over $40/pound right now. Some cuts cost double now what they did a year ago. People at my work who have been in this industry for 30 years say they have never seen anything like this.