Oooh morality! I'm taking an entire class on this.
Is eating meat moral?
The main question to this is whether or not animals have the same rights as humans. It is generally accepted that the answer is no, but iago definitely thinks otherwise (outlier!).
Looking at natural law, it could be said to be moral. It is human nature to eat meat, we have always needed it to survive, and therefore it is justifiable because it preserves our life.
With utilitarianism the morality is questionable, and depends how much you weigh each issue. Here is where the issue of whether or not the animals have the same rights as we do comes into play. If they don't, killing the animal doesn't weigh that much, and people are fed (and get the proper nutrition needed to survive), while some people become upset. In this case, the positives outweigh the negatives, and is therefore morally justifiable to eat meat.
For those who are religious, the divine command theory states that an action is right because God says it is. I'm not too familiar with this subject, but I'm decently positive that this makes consuming meat morally right, or in some religions, eating specific types is morally wrong.
If moral laws are relative to the society, such as relativism suggests, then eating meat, in our culture, is morally right. If you lived in a vegan society, then it wouldn't be. But you don't.
Pretty much you could argue either way, but the general consensus is that its morally right.