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1 1 (November 2022)

handle is hein.amenin/aeiaemb0001 and id is 1 raw text is: Key Points ia Enhancing beef demand directly benefits cattle producers. Domestic beef cemano growth over the past decade has rnarkedy increased fed cattle and feeder calf prices and is closely linked to improved quality. * Consuners consistently rank beef product taste, freshness, price, and facd safety as their toe pre erences. Cattle producer pr prty depends on providing beef products rnatchin consumer preferences. Innovations in rarketing agreements paying produc- ers for hig he-cuality cattle have incre sed beef dermand. Policies that threaten in :ustry prrcess in pr -oi beef products consumers want, or that add costs v ithot ofsetting benefits, harm the gr -ups they are intended to help. Polices that support innovation, facilitate rodu- t differentiation and process verifica- tion, provide reevant market information, and grow expOrts >rOvide substantial benefits to beef producers. When rnarkets wok efficienty, they faciitate prod- uct innovations through mre effective marketing channels chat benefit all participants, including suppliers and consumers, Producers can provide products that posses the quality attributes consurm- ers want, offe-ng greater overall value. This has been the story of the US beef industry over the past dec- ade: Innovative relatnonhips between cattle produc- ers and cattle buyers that are embodied in contracts that reward quality have significantly increased demand for US beef, at home and in export markets. As a group, US ta mers and ranchers have bene- fited from this surge in demand for one simple rea- son. Almost all new revenue that enters the US beef industry originates frorn domestic and inrna- tional beef consumers,. Prosperity for every verc'cal suppl-ichain participant in the cattle and beef sec- tor hinges on consumer demand for beef, just as con- surmer well-being is closely linked to improved qtuality. 'he beef cattl industry is characterized by bie- logical lags in cattle rodction and the need for expensive fixed assets uniquely suited for cattle a nd beef production. Thus, when beef demand grows, beef, cattle production, and processing become more profitable. Conversely, when beef demand declines, returns across the entire beef supply chain suffer, reducing the value of cattle and related assets cat- tle producers own.

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