Meat exports are driving corn prices higher, according to a study
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.