McDonald's Meat Supply Chain Isn't a Concern for CEO

McDonald's CEO Chris Kempczinski told 'Good Morning America' that the company's meat supply chains are intact.
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Shares of McDonald's  (MCD) - Get Report are rising Thursday after CEO Chris Kempczinski said that the company's meat supply chain is fine amid closures of numerous meat plants around the country. 

Kempczinski told ABC's "Good Morning America" that none of the company's global locations are in danger of losing their meat supply. 

"We've got an amazing group of suppliers and amazing supply chain team," he said. "For us really what's been incredible is just through this entire pandemic we haven't had a supply chain break anywhere in all 40,000 restaurants around the globe."

Despite this confidence, Kempczinksi did say that McDonald's is monitoring supply chains in the U.S. and North America due to recent closings. 

"That said, in the U.S. And North America, you know, we're watching very closely this meat supply issue. It's particularly an issue with beef. Right now we feel good about our situation, but it really is a day-to-day status and we're monitoring it but, again, we feel pretty good about where we're at right now," he said. 

Despite the federal government's declaration that meat processing facilities should be kept open as an essential business during the coronavirus pandemic, plants across the country have been closing due to employee absenteeism. 

Reports came out this week that there were disruptions in Wendy's meat supply chain but Jim Cramer thinks the company can shift to heavier on chicken sandwiches if the lack of beef becomes a further issue. 

McDonald's was also in the spotlight Thursday after a woman shot two employees at a McDonald's in Oklahoma City after becoming agitated because the store's dining room was closed due to coronavirus guidelines.

The employees were hit in the shoulder and arm, respectively, and both are expected to make a recovery. 

McDonald's shares rose 1.5% to $179.67 Thursday.