A bit of bad news for all you beef lovers out there: McDonald's said Thursday that it's cutting one-third pound Angus burgers from its menus in the U.S. as beef prices hit all-time highs.
The U.S. Department of Agriculture's (USDA) wholesale beef market report on Thursday morning showed choice beef carcasses rising 24 cents per hundred pounds (cwt) to a record $204.91 per cwt above the previous record of $204.67 hit late on Wednesday.
McDonald's and other chains have worked to offset higher beef costs by promoting chicken, which is less expensive than beef. To that end, McDonald's recently introduced premium chicken wraps.
The company in March said it was weighing the removal of its "premium" Angus burgers to make room for other food options.
"While these burgers will no longer be available in our restaurants, they may still play a future role on our menu," spokeswoman Danya Proud said. Angus snack wraps also went on the chopping block.
While prices for beef and other commodities have risen as a result of last summer's historic drought, overall food costs have not seen the sharp spike experts predicted.
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