U.S. red meat exports increasing value of corn and soybeans

by | Apr 1, 2024 | 5 Ag Stories, News

Beef and pork exports of $18.1 billion in 2023 had a significant impact on the corn and soybean industries, according to an independent study conducted by Dave Juday of The Juday Group and released by the U.S. Meat Export Federation (USMEF). The study quantified the returns that beef and pork exports brought to corn and soybean producers nationally and on a state-by-state level for leading corn and soybean-producing states. Juday said beef and pork exports accounted for 512.7 million bushels of U.S. corn usage.

Red meat exports also accounted for the consumption of about 3 million tons of dried distillers grains, adding four cents per gallon to the net margin of ethanol plants. But Juday said that’s not the only impact they had on soybeans.

For more information, visit usmef.org.