A file worth of beef and pork exports introduced vital returns to the U.S. corn and soybean industries in 2022, in line with an impartial research carried out by World Views, Inc. and launched by the U.S. Meat Export Federation. U.S. pork and beef exports contributed an estimated complete financial influence of 15% per bushel to the worth of corn and 13% per bushel to soybeans in 2022, in line with the research.
“For each bushel of corn we marketed in 2022, slightly over $1 was attributed to pink meat exports and with soybeans, pork exports contributed $1.94 per bushel,” says USMEF Chair Dean Meyer, who produces corn, soybeans, cattle and hogs close to Rock Rapids, Iowa. “Pork and beef exports carry vital assist to our backside strains.”
Corn and soybean growers assist the worldwide promotion of U.S. pork, beef and lamb by investing a portion of their checkoff {dollars} in market growth efforts carried out by USMEF.Â
“We’re a serious exporter of corn and soybeans however this research reminds us of the worth of our oblique exports of corn and soybeans via pork and beef,” says Dave Juday, senior analyst for World Views. “The contributions of pork and beef exports to the per-bushel worth of U.S. corn and soybeans in 2022 had been the very best estimates we have seen so far. And that was critically essential, as corn and soybean farmers labored to take care of margins with increased enter prices throughout the board.”
Key findings from the research, which utilized 2022 statistics supplied by USDA’s Nationwide Agricultural Statistics Service and information evaluation by World Views, embody:
Exporting corn via U.S. beef and pork
- Beef and pork exports accounted for 503.4 million bushels of U.S. corn utilization, which equated to a market worth of $3.4 billion (at a mean corn worth of $6.75 per bushel).
- Beef and pork exports accounted for 3.42 million tons of DDGS utilization, equating to $834 million (at a mean worth of $244 per ton).Â
- Beef and pork exports contributed an estimated complete financial influence of 15%, or $1.01, of bushel worth in 2022 at a mean worth of $6.75 per bushel.
Exporting soybeans via U.S. pork
- Pork exports accounted for 89.7 million bushels of U.S. soybean utilization, which equated to a market worth of $1.33 billion (at a mean worth of $14.83 per bushel).
- Pork exports contributed an estimated complete financial influence of 13% of bushel worth, or $1.94, in 2022 at a mean worth of $14.83 per bushel.
Handouts detailing the influence of pink meat exports on the nationwide degree and on the main corn-producing and soybean-producing states can be found from the USMEF web site.
