I was going for more of an upscale look, based on your direction provided. The logo can be upscaled further to give it a 'medallion' look (more blends and a glossy look) or simplified for B&W usage.
The 'blue ribbon' plays off a 'blue ribbon' winner. The crown indicating premium quality ('The King of Beef'). The richer colors add emphasis to the quality of the beef.
The cow itself, along with the crown, can be used as a separate identity.
Thank you for consideration and the opportunity to market your company.