Record-level red meat exports of 18.7 billion dollars in 2021 had a major impact on the corn and soybean industries.
An independent study by the Juday Group quantified the returns that red meat exports brought to corn and soybean producers in 2021 nationally and at state levels.
Key findings from the 2021 export data showed that beef and pork exports accounted for 537 million bushels of corn usage, equating to 2.94 billion dollars.
Pork exports accounted for 99.3 million bushels of soybean usage nationwide or the equivalent of 2.36 million metric tons of soybean meal worth 1.3 billion dollars.
Beef and pork exports accounted for 3.4 million tons of DDGS usage, equating to 716 million dollars.
“Beef and pork exports drive value directly back to the farm, and this study helps confirm the return on investment for all corn and soybean producers,” says U.S. Meat Export Federation Chair-elect and Iowa producer Dean Meyer.
(Story Courtesy of the NAFB News Service)