Date of this Version
24th Range Beef Symposium, Nov. 17-19, 2015, Loveland, Colo.
Beef is no longer a commodity as it is presented to consumers. Name brands and greater differentiation are everywhere. Fed cattle aren’t really a commodity either. Close to 70% of all fed cattle are sold on grids and formulas, which price these animals individually, according to their actual carcass value. Commercial bulls have been de-commoditized for years. Bulls in all major breeds are now sold with a plethora of specific and detailed information (even videos on individual animals) that allows prospective buyers to evaluate and compare bulls in a detailed and sophisticated manner, similar to how we might compare pickup trucks when it’s time to buy a new one.