November 27, 2013
In the 2011-12 marketing year, consumption of soymeal by the US animal agriculture sector increased by one million tonnes, according to a Soy Checkoff-funded report.
The development is good news for soy farmers since domestic animal agriculture uses about 97% of US soymeal consumed in the country. The report also called for US soy farmers to maintain their support to the animal agriculture industry. Farmers from the sector face pressures like rising feed costs and dwindling local consumer demand. As the animal agriculture sector continues to be US soy farmers' top customer, these pressures also threaten the profitability of all soy farmers, the report added.
"The success of the US soy industry relies on the strength of the US animal agriculture industry," says Mike Beard, a checkoff farmer-leader.
The report, titled 'National Animal Agriculture Economic Analysis', also outlined the economic benefits the poultry and livestock sectors provide at state and national levels. In 2012, animal agriculture provided various benefits to the national economy.
According to the study, US poultry, livestock and fish farmers used more than 30 million tonnes of soymeal in the time period measured, or the meal from more than 34.3 million tonnes of US soy. Broilers and swine continue to be the two biggest soymeal consumers.
