Well I'm down in TX. Even in good cold hunting weather, once the sun's up a deer is going to spoil here if you haven't already moved it to cold storage, so we don't really have the option of just hanging them out in the elements for a few days. As for the rest of it, my understanding is that draining as much blood as you can ASAP, keeps the meat more tender and tasting better (less gamey). So that's why we cut the throat (carotid arteries) in the field and bleed immediately, and then that's also why we hang it upside down (to continue the bleeding process).
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