Eat MO beef : effects of regional labeling on Missouri consumers' beef preferences
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With recent activity suggesting a desire to increase Missouri's meat processing capacity, it is necessary to provide consumer data for industry consideration. The objective of this research is to empirically measure Missouri consumers' willingness-to-pay for various beef attributes and how this varies by age and location of respondents. Through a statewide survey and discrete choice analysis, this study found statistically significant premiums for all three variables under consideration: Missouri grown, local, and USDA prime. Of these, local demanded the highest premium across all demographics with a maximum of 2.23 [dollars] per pound of top loin steak. These premiums are indicative of value-added opportunities, but do not account for additional processing costs incurred and therefore do not guarantee increased profitability.
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M.S.