“Limit consumption of processed meat and red meat,” the American Cancer Society has been advising Americans since 2002.
“To reduce your cancer risk, eat no more than 18 oz. (cooked weight) per week of red meats, like beef, pork, and lamb, and avoid processed meat such as ham, bacon, salami, hot dogs, and sausages.” said a joint 2011 report by the American Institute for Cancer Research and the World Cancer Research Fund.
“That report is very detailed and comprehensive,” says the National Cancer Institute’s Amanda Cross. Its conclusion: the risk of colon and rectal cancer rises by about 20% for every serving of red or processed meat you eat per day.
A few studies have found that red-meat eaters have a higher risk of pancreatic, prostate, or esophageal cancer.” But the report considered the evidence convincing only for colorectal cancer,” says Cross

Not Nitrite Free
“No nitrites added” may not mean less nitrite. Nitrite and nitrate (which the body can convert to nitrite) occur naturally in meats, and nitrite occurs naturally in the celery powder and sea salt that Applegate and some other brands add.
Source: Nutrition Action Health Letter June 2013