US red meat exports boost grain economy

The US Meat Export Federation says booming United States beef and pork exports in 2021 increased the value of corn and soybeans.

A USMEF study produced by the Juday Group said beef added $ 10 billion to the corn market in 2021 and pork contributed almost $ 7.3 billion to the 2021 soybean market.

“The study validates the red meat industry’s collaborative approach to export market development,” USMEF Chair-elect Dean Meyer – who produces corn, soybeans, beef, and pork in Iowa – said in a press release. “Beef and pork exports drive value directly back to my farm and this study helps confirm the return on this investment for all corn and soybean producers. ”

The report said beef exports added 12% to the per-bushel value of corn, and pork added 12.6% to the per-bushel average of soybeans. USMEF said corn and soybean producers support the red meat industry by investing capital from their checkoff programs into USMEF’s market development efforts; the organization lists several such groups among its nearly 300 members.

“Red meat export growth results in greater demand for feed inputs and added value at every step of the supply chain,” Mark Legan, a hog farmer and USMEF executive committee member, said. “This study demonstrates the significance of global trade to the bottom line of American farmers and ranchers.”

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