The media frenzy that has surrounded lean finely textured beef, unfortunately dubbed “pink slime,” is now being transformed into real monetary losses for the U.S. beef industry.
CattleFax is estimating that the uproar is costing $15 to $20 per head in lost value. Further, if this source of lean beef isn’t utilized in the domestic pipeline, Kevin Good of CattleFax says there will be a higher cost of ground beef that consumers will have to pay.
So what is lean finely textured beef?
Looking back again to the costs, Oklahoma State University Livestock Market Economist Dr. Derrell Peel says the rejection of this product could contribute to the demise of the dollar menu at fast food hamburger chains.
© Northern Ag Network 2012
With Information from the NAFB News Service