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Abstract
Cow/calf producers operating in the Dakotas were surveyed on their price discovery
strategies, marketing channel preferences, and their perceptions of how regime
change in the public price reporting system for fed cattle affected the beef industry
in general and the cow/calf industry in particular. Survey results indicate cow/calf
producers consider local institutions (auction barns, etc.) to be more reliable for
price discovery than regional or national institutions (futures market, USDA public
price reports, satellite auctions, etc.). The auction barn marketing channel is the
preferred channel for marketing cattle and is considered the most reliable source
of market information by producers. Dakota cow/calf producers perceive livestock
mandatory price reporting as benefiting the beef industry in general, but consider
public price reports to be less reliable than local sources of market information.