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The beef checkoff has long used market data and sound analysis to understand beef demand, set industry priorities and measure progress and performance over time. Building on this rich history of ongoing insight into key demand drivers and their corresponding values, the beef checkoff’s Evaluation Advisory Committee recently commissioned two of the country’s top agricultural economists, from Kansas State University, to create a new and actionable beef demand index. This index will focus on specific cuts, with special attention to ground beef to inform checkoff programs and the beef industry how best to increase overall beef demand in foodservice and retail channels.
Considering past demand-driving efforts, this particular project is a logical evolution in the beef checkoff’s continued effort to understand and capitalize on specific areas of opportunity. Simply put, this rigorous approach is intended to help identify how cut-specific beef demand can fluctuate, given changes in beef prices, thus informing channel partners how to maximize the value to consumers of their respective beef offerings. Key criteria for this and prior work is to ensure consistent and focused support of the goals and objectives of the Beef Industry Long Range Plan.
While this newly commissioned study is just getting underway – with expected completion in early 2017 – past efforts have included: