For each dollar invested in the Beef Checkoff Program between 2006 and 2013, about $11.20 was returned to the beef industry, Dr. Harry Kaiser of Cornell University found in his recent study of the return on investment from the Beef Checkoff.
The checkoff recently developed an infographic to illustrate the results from Kaiser's study, the most comprehensive study ever rendered about the Return on Investment of beef-checkoff assessments, the checkoff said.
Dr. Kaiser says the results should be encouraging to the country's beef producers and importers.
"The news for beef checkoff investors couldn't be better," said Kaiser, the Gellert Family professor of applied economics and management at Cornell said earlier this month at the 2014 Cattle Industry Summer Conference.
Commissioned through the checkoff's Joint Evaluation Committee, this ROI study could be a useful tool for producers who make decisions about how to invest checkoff dollars, the checkoff said.
According to the info graphic, the checkoff:
• Prevented a 6.4% reduction in foreign demand for U.S. beef between 2006 and 2013;
• Prevented an 11.3% reduction in domestic beef sales between 2006 and 2013; and
• Ensured an addition 15.7 billion pounds of beef was sold domestically between 2006 and 2013.
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