Meat eating is wrong, but not that bad. Animals don't have the same level of existence as humans: they don't have the same commitment to social bonds, they don't have higher thought or intelligence, they don't exercise self-control, they can't understand their own existence or the concept of morality, they can't form a social contract with humans, etc. This means that the life of an animal is inherently far less valuable than a human's. I personally don't eat much meat because I don't like the taste, but eating meat in general isn't very bad morally.
The slaughter of animals isn't very bad morally, but it is bad for the existence of humans. Low-quality meat can cause cancer, the production of meat uses a ton of resources and is inefficient, factories and cows release a lot of greenhouse gases, etc. This is why I am opposed to the current standard of producing meat.