US grass‐fed beef premiums

This study examined monthly retail‐level price premiums for grass‐fed beef (relative to conventional grain‐fed beef) in the United States from 2014 through 2021. We found that premiums were heterogeneous, with premium cuts, such as sirloin steak, tenderloin, ribeye and filet mignon enjoying the high...

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Bibliographic Details
Published in:Agribusiness (New York, N.Y.) N.Y.), 2023-07, Vol.39 (3), p.664-690
Main Authors: Wang, Yangchuan, Isengildina‐Massa, Olga, Stewart, Shamar
Format: Article
Language:English
Subjects:
attributes
Beef
Climate change
consumer demand
COVID-19
Food consumption
Grasses
grass‐fed beef
Pandemics
price premiums
retail prices
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Summary:This study examined monthly retail‐level price premiums for grass‐fed beef (relative to conventional grain‐fed beef) in the United States from 2014 through 2021. We found that premiums were heterogeneous, with premium cuts, such as sirloin steak, tenderloin, ribeye and filet mignon enjoying the highest premiums. Premiums were not consistent with price levels, as the lowest premiums were observed for short ribs, skirt steak and flank steak. Our findings suggest that grass‐fed beef price premiums were negatively affected by the consumption of food away from home. Changes in income, increased information about taste, protein and minerals, fat, revocation of the USDA grass‐fed certification program in 2016 and COVID‐19 pandemic, also affected premiums for several individual cuts. Premiums were not sensitive to changes in information about climate change. [EconLit Citations: Q11, Q13].
ISSN:0742-4477
1520-6297
DOI:10.1002/agr.21790