National Beef Checkoff ROI Study Confirms Value and Sets Benchmarks
The latest independent return on investment (ROI) study for the National Beef Checkoff program highlights its significant economic contributions to the beef industry.
Conducted by Dr. Harry Kaiser of Cornell University, the study examined Checkoff activities from 2019 to 2023, revealing that every $1 invested in the program returned $13.41 in benefits to U.S. beef producers and importers.
Commissioned every five years under USDA oversight, this research provides a critical benchmark for evaluating the program’s effectiveness.
Key Findings of the Study
The analysis demonstrated the Checkoff’s profound impact on domestic and export beef demand:
- Domestic Demand: Without Checkoff investments, domestic beef demand would have been 8.5% lower annually. This decline would have driven steer prices down by 7.8% each year, significantly affecting producer revenue.
- Export Demand: The program supported a robust export market, preventing an 11.5% annual reduction in demand for U.S. beef abroad.
In 2023 alone, the Checkoff added $3.3 billion in incremental revenue to the beef industry. This benefit extended beyond producers, contributing $4.1 billion to the broader U.S. economy and boosting GDP by nearly $9.5 billion.
Strategic Importance and Future Directions
The ROI study is more than a retrospective; it offers actionable insights for shaping the program’s future.
The Cattlemen’s Beef Board (CBB) intends to use these findings to enhance demand-driving promotional, research, and educational initiatives.
Guided by the Beef Industry Long Range Plan, the data will help align Checkoff-funded activities with long-term industry goals.
Building Producer Confidence
For many producers, the study confirms the value of their $1 per head investment. By driving demand and increasing industry revenue, the Checkoff ensures that producers see tangible benefits from their contributions.
As the program evolves, this data will guide smarter resource allocation, fostering growth and sustainability across the U.S. beef supply chain.
Curious about the economic impact of beef investments? Visit our homepage to explore the latest ROI study and its value for the U.S. beef market.
