Beef Prices Hit Fast-Food Chains
By Matthew Lyle • November 7, 2014
Rising beef prices might not mean the cost of a Whopper is going to skyrocket, but it could mean you’ll be encouraged to order a chicken sandwich instead.
The soaring prices have hurt fast-food restaurants that feature beef as the centerpiece of their menus: Burger King, Wendy’s and McDonald’s — the nation’s three biggest burger chains — all say they’re dealing with higher beef costs.
Arby’s, a chain best known for its roast beef sandwiches, next week is rolling out a new line of steak sandwiches. But without providing details, CEO Paul Brown said the company is also looking for “more opportunities” to promote chicken, which on average accounts for about 10 percent of sales for the chain.