馬肉 is read as ばにく (baniku) and means horsemeat.
ばにく
baniku
うま
horse
ばしゅ
owner of a horse (esp. racehorse)
ばしゃ
coach (horse-drawn)
ばりき
horse-drawn cart
ばじゅつ
horsemanship
ばば
riding ground
ばじょう
(on) horseback
めず
horse-headed demon (in hell)
ばぐ
horse tack
ばかんせんそう
Shimonoseki campaign (1863-1864)
うまいち
horse market
うままわり
daimyo's mounted guard