Beef and pork exports add value for corn and soybean producers
A recent study commissioned by the US Meat Export Federation shows red meat exports add value to corn and soybeans raised in the US.
The Juday Group conducted the study using 2021 export data. Founder Dave Juday says beef and pork exports accounted for 537 million bushels of corn usage. “That is about $2.9 billion,” he says. “But the bigger value comes in what red meat exports contribute to the per bushel value, at about 12%, that’s about $.66 per bushel.”
He says pork exports accounted for 99.3 million bushels of soybean usage. “Across the use of about 2.36 million tons of soybean meal, when you calculate that back out to the soybean price, a soybean crop of about 4.4 billion bushels, and the impact is almost $7.3 billion dollars.”
Beef and pork exports also accounted for 3.4 million tons of DDGS usage, valued at $716 million.
Corn and soybean growers help support the promotion of US beef, pork, and lamb internationally by investing a portion of their checkoff dollars in the USMEF’s market development efforts.