American red meat demand boosts corn, soybean exports: USMEF
The US meat export federation's study helps promote global demand for American red meat
The United States Meat Export Federation, (USMEF) has released an updated version of the independent study aimed at quantifying the value red meat exports provide to U.S. corn and soybean producers.
Since 2015, indirect exports of corn and soybeans through beef and pork exports have been the fastest-growing category of corn and soybean use. In 2019, beef and pork exports used 480 million bushels of corn and corn revenue generated by pork exports was $1.8 billion.
Pork exports used 2.12 million tons of soybean meal and soybean revenue generated by pork exports was $751.7 million. Beef and pork exports also used about 3 million tons of distiller’s dried grains which generated $411.8 million in revenue for ethanol mills’ co-products.
With total production of 13.62 billion bushels, the value of pork exports to the U.S. corn crop was $6.26 billion. With total production of 3.55 billion bushels, the value of pork exports was $2.7 billion to the soybean crop.
USMEF President and CEO Dan Halstrom said quantifying the value delivered by beef and pork exports is reassuring to corn and soybean producers, who provide critical support for USMEF’s efforts to increase global demand for U.S. red meat.