John Michael Riley

Valuing Fed Cattle Using Objective Tenderness Measures

Beef tenderness is critical in consumer satisfaction with beef steak products. Current fed cattle valuation systems do not differentiate carcasses based upon tenderness variation. However, considerable research indicates consumers are willing to pay more for tender relative to tough beef steak. This article develops a tenderness-augmentation to current fed cattle grid pricing systems. Using a large set of actual carcasses, we determine that a tenderness-augmented price grid would reorder fed cattle value by on average nearly

Extension's Role in Commodity Marketing Education: Past, Present, and Future

5.00/cwt dressed relative to current valuation methods. Substantial opportunity is present to improve beef tenderness through new price signals to producers.

Challenging Belief in the Law of Small Numbers

Historically, market situation and outlook has often included some form of price forecast. Recent volatility in agricultural commodity markets is making price forecasts challenging and at times less reliable. In addressing this price volatility, changes in agricultural markets are highlighted along with price forecasts: pre- and post-increased market volatility. Given these recent challenges, the future of Extension agricultural commodity marketing is discussed.