The economic evidence says there's profit to be made for cattlemen who understand what consumers want. A symposium at the recent Agriculture and Applied Economics Association meeting in Denver examined trends that document a desire for high-quality beef.
Kansas State University livestock marketing economist Ted Schroeder served as moderator for the event, "Vertical Coordination in the Evolving High Quality Beef Market," which he indicated is no niche.
"This is a market segment with true momentum behind it," Schroeder said. "If the consumer is being responsive to this high-quality product–and we've good evidence that is the case–then we have to start addressing issues with respect to targeting and coordinating the entire beef chain toward producing for that market."
Panelists presented the proof that a sharper focus on beef quality can lead to growth and profit. Mark McCully, Certified Angus Beef LLC assistant vice president for supply development, mapped out the demand for high-quality product as a growing segment.
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