Meat exports are a big contributor to corn prices, according to a new study by the U.S. Meat Export Federation. Last year, pork and beef exports contributed 12 percent to the value of every bushel of corn. Red meat exports accounted for 537 million bushels of corn usage last year, which is equivalent to nearly $3 billion total.
The Federation’s John Hinners tells Brownfield Ag News, “More and more protein that gets exported outside the United States means more corn and more DDG’s is exported in the form of red meats.”
The National Corn Growers Association says the livestock industry is the biggest user of U.S. corn.
Related:
USMEF: red meat exports deliver value back to corn and soybean producers
USDA: Expect high corn prices to remain through Fall harvest
The success that U.S. meat exports have had, challenges ahead
