[jtidwell]

The simplest answer I can think of: roast it in your oven for a little while, crack it open (if you can!), and put it in a pot with cold water. Heat slowly. Simmer for several hours, skimming the foam and discolored stuff at first. Don't let it come to a hard boil. If you want to add flavor to the broth, add some meat trimmings, onions, celery, bay leaves, peppercorns, whatever you like in beef soup.

Once the broth has simmered for a few hours and the veggies are exhausted, turn off the heat and pour ladles of it through a strainer into another container. Let it cool a bit. Salt it if you want, or not, and then store it in jars in your fridge -- or freeze it. Now you have a great base for beef soup, beef stroganoff, bean soups, gravy, and so on. Very nourishing, and much tastier than off-the-shelf broths!