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  "documentTitle": "McDonald's | Shareholder Engagement Presentation Deck | 40 slides",
  "authorId": "mcdonalds",
  "authorName": "McDonald's",
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  "presentationDate": "2022-05-01 00:00:00",
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  "notes": "The slide uses external expert citations (Dr. Steve R. Meyer) and regulatory findings (CDFA) to build a defensive argument against a specific supply chain demand.",
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      "text": "McDonald’s represents roughly 1% of the pork produced in the U.S. (291.6m lbs), whereas “crate-free” pork represents 0.1% or less of total pork production. There is not sufficient “crate-free” pork available today to meet McDonald’s needs",
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      "text": "The current supply of what may be defined as “crate-free” pork would not meet the volume required for our supply chain. McDonald’s has offered premium pricing to suppliers for “crate-free” pork, and even that is not enough to create sufficient supply. The industry faces significant challenges in creating housing systems with more stringent parameters than standard group housed requirements, including compliance with Proposition 12.",
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      "text": "An analysis by Dr. Steve R. Meyer... found that... compliant producers nationally will have to spend an estimated $293.9 million to $347.7 million of additional capital in order to reconstruct their sow housing. The California Department of Food and Agriculture acknowledged that within California, Proposition 12 will make pork “more expensive to consumers,” “disproportionately reduce food purchasing power of low-income consumers,” substantially increase costs to public entities like schools, and impose substantial conversion, operating, and record-keeping costs on sow farmers, including “lower piglet output per animal and increased breeding pig mortality”",
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      "kind": "paragraph",
      "text": "Based on current estimates, McDonald’s would require at least 300-400 times the animals housed today in “crate-free” systems to keep its supply chain running(1)",
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      "text": "(1) Given that McDonald’s consumes only 1% of U.S. pork, to convert the entire industry would require at least 30,000 – 40,000 times the animals housed today in crate-free systems. (2) Estimates based on 0.1% of predicted volume currently available.",
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      "text": "Group housed vs. “crate-free” pork availability. Product: Trim, Picnics, Bellies, Loins, Total. Volume: 0.6, 0.6, 0.9, 1.4, 3.6",
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      "text": "Sourcing 100% “crate-free” pork is not feasible today",
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