Key Topic – Corn and Soybeans
Every pound of U.S. pork exported represents the utilization of about 0.91 pounds of U.S. soybean meal. Every pound of U.S. beef exported represents the utilization of about 2.6 pounds of U.S. feedgrains.
UPDATE: At the May 2016 meeting of the USMEF Board of Directors, USMEF unveiled as independent study aimed at quantifying the returns red meat exports provide to U.S. corn producers. Findings from the study include:
On a per-head basis, 800-pound calves fed to 1,360 pounds each consume 35 bushels of corn and 806 pounds of distiller’s dried grains with solubles (DDGS).
Each 12-pound pig finished to 284 pounds consumes 11 bushels of corn, 37 pounds of DDGS and 136 pounds of soybean meal.
World Perspectives, a leading agricultural consulting firm that conducted the study, analyzed feed rations and U.S. livestock production practices to establish feed use and then used beef and pork export data to determine the amount of consumption attributable to red meat exports, finding that 2015 exports accounted for:
355 million bushels (or 2.1 million acres) of corn
$1.3 billion in value to corn
1.48 million tons of DDGS (169 million bushel equivalent)
$205.4 million in value to DDGS
11.7 million tons (or 3.1 million acres) of combined corn and DDGS fed
Read more about the study and see a video interview with the study’s chief author in this USMEF news release.