Corn Growers Received Nearly Half Dollar From Livestock Exports

DENVER, CO – In 2019, beef and pork exports were responsible for more than 12 percent of the per bushel price of corn ($0.46/bushel from an annual average price of $3.75/bushel). With a total production of 13.62 billion bushels, the value of pork exports to the U.S. corn crop was $6.26 billion.

That’s according to a recent survey from the U.S. Meat Export Federation (USMEF). In addition, pork exports contributed 9 percent to the per bushel price of soybeans ($0.76/bushel from an annual average price of $8.43). With a total production of 3.55 billion bushels, the value of pork exports was $2.7 billion to the U.S. soybean crop.

The value of red meat exports to corn is higher than the previous year, both in cents per bushel and percentage of the total price, explained Dave Juday, senior analyst for World Perspectives, Inc., who conducted the original study and subsequent updates. “Soybean prices last year trended lower overall, so the total value of pork exports to U.S. soybeans – in terms of cents per bushel – is not as large as in our last update” he admits, “but the value-added as a percentage of the per bushel price remained steady.”
(SOURCE: U.S. Meat Export Federation)