January 29, 2004

US Soybean Board Initiates Plan To Promote Livestock Industry Growth

The United Soybean Board launched the Livestock Industry Initiative to promote stronger ties between livestock and soybean producers.

Soybean checkoff farmer leaders, together with academic, agriculture and soybean industry representatives, plan to develop a strategic plan to ensure the long-term growth of the livestock industry in the United States.

The soybean checkoff contributes more than $1.5 million a year to help build US poultry, pork and beef exports. But USB Chairman Criss Davis, a soybean farmer from Shullsburg, Wisconsin, believes the soybean checkoff, and the rest of the US soybean industry, can do more.

"The domestic poultry and livestock industries probably represent the most underappreciated economic sectors of rural America," says Davis. "Both are enormously important to us as soybean farmers. They are important to our rural towns and to Main Streets everywhere."

A report released late last year by the Minnesota AgriGrowth Council shows the poultry and livestock industries account for more than $5.2 billion in economic activity and have a direct impact on 90,000 jobs in the state - more than three of Minnesota's largest employers, Northwest Airlines, 3M and Medtronic combined.

"The impact and importance of the poultry and livestock industries to our economy are now very clear," Davis says. "The closer chickens, turkeys, hogs and cattle are to the soybeans we produce, the better our profit opportunities will be."

US livestock producers have faced increased regulation at home and competition abroad, USB says. Soybean producers, through their checkoff, are ensuring success for domestic crop and livestock producers, the group says.

The US poultry and livestock industries use more than half of the US soybean crop, and 97% of soybean meal goes to livestock feed, according to USB.

USDA statistics show consumption of US-produced soybean meal breaks down as follows:

    - 51% is consumed by poultry.

    - 24% is consumed by swine.

    - 19% is consumed by cattle.

    - 6% goes to other uses.