The combined benefit of Cattlemen's Beef Board programs is 11.91 times more valuable than their costs, according to new research. A third-party assessment by Cornell University announced Monday details of the return on investment.
Completed in June 2019, the study is based on a model which quantifies the relationship between the Cattlemen's Beef Board's marketing activities and domestic and international demand. It also compared the costs and benefits of those activities relative to producer and importer investments in the national portion of the Beef Checkoff program.
Under existing U.S. law, the organization is required to have an independent analysis of the program's economic effectiveness conducted at least once every five years. Chairman Chuck Coffey from Oklahoma says the results "tell us that we're achieving" the goal of increasing beef demand worldwide.
The study also found the activities have increased beef demand by 2.6 billion pounds per year between 2014-2018. Without a national checkoff, U.S. beef demand would have been 14.3 percent lower than levels seen in 2018.