Meat Exports Contribute to Corn and Soybean Prices

DENVER, CO – Since 2015, indirect exports of corn and soybeans through beef and pork exports have been the fastest-growing category of corn and soybean use, delivering critical returns for corn and soybean farmers.

These producers support the international promotion of U.S. beef, pork, and lamb by investing a portion of their checkoff dollars in market development efforts conducted by the U.S. Meat Export Federation (USMEF).

For example, U.S. beef and pork exports in 2019 used 480 million bushels of corn. Corn revenue generated by pork exports totaled $1.8 billion (480 million bushels x average annual price of $3.75/bushel).

Pork exports also used 2.12 million tons of soybean meal, equal to 89.2 million bushels of soybeans totaling $751.7 million (89.2 million bushels x average annual price of $8.43/bushel).

Beef and pork exports also used about 3 million tons of distiller’s dried grains (DDGS) in 2019 at an annual average price of $137/ton generating another $411.8 million in revenue for ethanol plants.
(SOURCE: U.S. Meat Export Federation)