date:Feb 01, 2013
ffects of last summer's historic U.S. drought ripple through the food system, said Jim Robb, an economist at the Livestock Marketing Information Center.
Ground beef prices already are up 6 percent to 8 percent so far this year, said John Davie, CEO of Consolidated Concepts, a firm that helps restaurants negotiate purchases.
To be sure, McDonald's is known for using its massive size to squeeze better prices out of suppliers. The company forecast commodity inflation of just 1.5 percent to 2.5 pe