The Beef Checkoff Program returns about $5.55 in value to beef producers for every dollar they invest, according to the latest economic study, which looked at the ROI for the program from 2003 to 2008.

Dr. Ron Ward, professor emeritus for the Food and Resource Economics Department at the University of Florida, did the study, which measured the impact of the Beef Checkoff Program as a demand driver. Dr. Ward says they measured both attracting consumers to the market and increasing consumption. “What we find is that it has a positive impact on both,” he said.

The study determined that the 78.8 percent of U.S. households which purchased beef in any given two-week shopping period would have been about three percentage points lower between 2003 and 2008 without beef checkoff-funded programs.

Dr. Ward says the 5.5 to 1 return on the checkoff investment shows that it has a positive impact. “That’s been a very robust number for several years now,” he said. Dr. Ward presented his study results already this week to the checkoff’s Joint Industry Evaluation Advisory Committee at the 2009 Cattle Industry Summer Conference in Denver and he will also present them at the general session on Friday.

The study includes some very complex economic modeling and has been thoroughly peer reviewed for research accountability. The study is available in pdf form here on the Beef Board website.

Listen to or download Dr. Ward’s summary of the study here: