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Study shows value of red meat exports to US corn and soybeans in 2021
A new study shows red meat exports contributed $0.63 per bushel to US corn and $1.64 per bushel to US soybeans in 2021.
John Hinners with the US Meat Export Federation tells Brownfield the study by World Perspectives, conducted annually since 2015, shows the amount of corn and soybeans consumed by cattle and hogs that are harvested and exported.
“In 2021, cattle and hogs for red meat exports consumed 536 million bushels of corn.”
With an average price of $5.48 for corn and $13.13 for soybean ins 2021, he says red meat exports made up 11.5% of the price for corn and 12.5% of the price for soybeans. That is an increase of .5% for soybeans and unchanged for corn compared to 2020.
Hinners says they will now use results of the study and each state’s final corn and soybean yield numbers to determine the impact of red meat exports on each state’s corn and soybean crops.
