The re-entry of British over-30 months beef to the market will help ease upward price pressure on the cost of manufacturing beef, according to Keith Kenny, head of food strategy at McDonald’s Restaurants. He said that soaring demand for manufacturing beef had forced prices up 22% since the beginning of the year.
This trend was in contrast to the falling price for prime cuts, which had been pushed down by cheap imports coming into the UK. Kenny added: “There’s an increased need for manufacturing beef and without cow (OTM) beef there is a shortage. Beef is still McDonald’s core business, and higher prices are hitting us hard.”