April 3, 2024


Report highlights significance of US beef and pork exports for corn and soybean economies


A new report, conducted independently by Dave Juday of The Juday Group and released by the U.S. Meat Export Federation, underscored the integral role of US beef and pork exports in driving the economics of corn and soybean production, Brownfied Ag News reported.


The study revealed that pork and beef exports contribute substantially to the value of corn and soybeans, enhancing their economic viability.


According to Dave Juday, beef and pork exports add 14.6% or US$0.87 per bushel to the value of corn and 13.9% or US$1.95 per bushel to the value of soybeans. Notably, these exports represent over 500 million bushels of US corn usage, translating to approximately US$3.05 billion in foreign purchases based on the average price in 2023. Additionally, exports accounted for 3.07 million tons of DDGS usage, valued at US$671.62 million.


Highlighting the significance for soybean production, Juday mentioned that pork exports alone accounted for nearly 97 million bushels of US soybean usage, contributing US$1.36 billion in value. The report further quantifies the impact of beef and pork exports on both national and state levels, providing insights into their contributions to corn and soybean producers across the country.


The US Department of Agriculture emphasised the critical role of soybeans and corn in animal feed, with more than 70% of U.S. soybeans and nearly 40% of US corn production utilised for this purpose.


-      Brownfield Ag News

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