By Farms.com
The economic landscape for corn and soybean producers was notably enhanced in 2023 through the export of beef and pork, with exports valued at $18.1 billion making a considerable impact. This was outlined in a revealing study by The Juday Group, commissioned by the U.S. Meat Export Federation.
Significant to this analysis was the contribution of red meat exports to the agriculture sector, particularly in terms of adding value to corn and soybeans per bushel. Specifically, exports contributed to a 14.6% increase in corn value and a 13.9% rise in soybean value per bushel, reflecting the intertwined nature of livestock and crop production in the U.S. agricultural economy.
The study detailed how beef and pork exports were responsible for utilizing 512.7 million bushels of corn and generating a substantial economic output, thereby bolstering the agricultural market. It also highlighted the consumption of 3.07 million tons of DDGS, further supporting the ethanol industry.
Emphasizing the quality of U.S. feed inputs, the report credits these for enhancing the international competitiveness of U.S. red meat. The findings underscore the benefits of sustainable agricultural practices and feed efficiencies that are crucial to maintaining the edge in a competitive global market.
The cumulative effect of beef and pork exports on the agricultural sector is profound, affirming the importance of these exports in supporting U.S. corn and soybean producers. The available detailed impact analysis provides valuable insights into the state-specific benefits, affirming the pivotal role of agricultural exports in the national economy.