DENVER — The Beef Checkoff released results of an independent economic analysis conducted this spring to assess the effectiveness and financial benefits of the program’s activities.

A major finding was that each dollar of the national Beef Checkoff program invested in its demand-driving activities between 2019 and 2023 positively impacted domestic beef demand and US beef exports. According to the study, each dollar yielded a total financial benefit of $13.41 for the producers and importers who paid into the program.

“We’re extremely pleased with the results of this latest study,” said Cheryl DeVuyst, chair of the Beef Checkoff Evaluation Committee and current secretary-treasurer of the Cattlemen’s Beef Board. “The Beef Checkoff’s primary goal is to increase beef demand here in the US and worldwide. The statistics uncovered by this study tell us that we’re achieving that goal and providing producers and importers with an excellent return on their national Checkoff investments.”

The study simulated market conditions for beef demand in the absence of national Beef Checkoff investments. For the most recent five-year period without the program’s influence, total domestic demand would have been 2.4 billion lbs, which is 8.5% lower per year than actual results. Steer price would have been 7.8% lower per year than actual results. Additionally, US export demand would have been 11.5% lower in the seven major importing countries included in the study, at 372 million lbs.

Based off the percentages from the simulation analysis, the study found that the national Beef Checkoff added an incremental $3.3 billion to the beef industry in 2023.

Indirect effects of the program’s activities on the broader US economy included an increase in employment by almost 47,000 people, higher employment income by $2 billion and a total value added to the economy of $4.1 billion.

Furthermore, the national Beef Checkoff contributed to increased tax revenue at the federal, state and local levels, amounting to $743 million in 2023.