Monster Jerky can be given to the Pig King in exchange for a Gold Nugget, unlike raw Monster Meat. It can also be fed to a CagedBird to produce an Egg. It also will decrease Sanity and Health but to a lesser degree than the other forms of monster meat.
Unharvested Monster Jerky will not start to spoil as long it is left on the Drying Rack, making it possible to keep it fresh for an indefinite amount of time. However this feature was changed in Reign of Giants DLC in which all dried meat does spoil on the Drying Rack at the same speed as if it was left on the ground. Same change was made for any finished meal left on a Crock Pot.
Since Monster Jerky does not technically count as a cooked food item, Wagstaff will suffer an additional 3 penalty for eating it, meaning it will instead damage him for 6 .
As Webber, Monster Jerky provides no additional bonuses over raw Monster Meat other than increased freshness time. Along with the time Monster Jerky takes to prepare, it isn't a reccomended food item for most situations other than Summer.