NAFB News Service
A new study shows a record value of beef and pork exports brought significant returns to America’s corn and soybean industries in 2022.
The independent study done by World Perspectives and commissioned by the U.S. Meat Export Federation says America’s beef and pork exports contributed to an estimated total economic impact of 15 percent per bushel of corn and 13 percent per bushel for soybeans.
“For every bushel of corn that we marketed in 2022, a little over $1 was attributed to red meat exports, and with soybeans, pork exports contributed $1.94 per bushel,” said USMEF Chair Dean Meyer. “Pork and beef exports bring critical support to our bottom lines.”
Beef and pork exports accounted for 503.4 million bushels of U.S. corn usage, which equates to a market value of $3.4 billion. Pork exports account for 89.7 million bushels of U.S. soybean usage, which equated to a market value of $1.33 billion.