A recent independent economic study conducted by Dr. Harry M. Kaiser of Cornell University has confirmed the significant economic benefits of the national Beef Checkoff program. The study, which covered the last five years from 2019 to 2023, found that U.S. cattle producers receive a return on investment of $13.41 for each dollar they invest into the program [632bab8e] [8009041f].
The study reviewed the checkoff's performance and measured the effectiveness and direct and indirect benefits of the checkoff's demand-driving activities. It revealed that the Beef Checkoff program had a substantial impact on both domestic and foreign market demand for U.S. beef. Without the program, the total domestic beef demand would have been 2.4 billion pounds (8.5%) lower per year. The study also found that the steer price would have been 7.8% lower per year, and U.S. export beef demand would have been 372 million pounds (11.5%) lower in the seven major importing countries included in the study [8009041f].
Furthermore, the study highlighted the positive indirect effects of the Beef Checkoff program on the broader U.S. economy. It found that per capita beef demand was approximately 8.5% higher than it would have been without the program. The program also contributed to increases in U.S. employment, U.S. employment income, total value added to the U.S. economy, and U.S. GDP. The study showed that the checkoff increased U.S. employment by almost 47,000 people and U.S. employment income by $2.1 billion. The total value added to the U.S. economy was $4.1 billion. Additionally, the Beef Checkoff program resulted in increased tax revenue at the federal, state, and local levels, amounting to a total of $743 million in 2023 [8009041f].
The findings of this independent study provide further evidence of the economic benefits of the Beef Checkoff program. The study's results will be valuable for the Cattlemen's Beef Board in enhancing the effectiveness of the program [632bab8e] [8009041f].