USMEF study finds meat exports contribute 12% to price of corn
New data shows pork and beef exports contributed 12 percent to the value of every bushel of corn in 2021.
John Hinners with the U.S. Meat Export Federation says their annual study found red meat exports accounted for 537 million bushels of corn usage last year, which equals $2.94 billion based on an average price of $5.48 per bushel.
“You take 12 percent of the bushel’s value, that’s 66 cents (for every bushel).”
He tells Brownfield red meat exports look promising again this year.
“Ultimately, more and more protein that gets exported outside the United States means that more corn and more DDG’s is exported in the form of red meats.”
Hinners made these comments during a Brownfield content partnership podcast with Minnesota Corn.
National Corn Growers Association Market Development Action Team Chair and Colorado farmer Troy Schneider says the animal ag industry is the largest user of U.S. corn, and it’s important to partner with the industry to expand and grow markets.