USA: The economic impact of meat exports on the cost of corn and soybeans

According to Dave Judey, senior analyst at World Perspectives, "The contribution of pork and beef exports to the value of a bushel of US corn and soybeans in 2022 was the highest we have ever seen."

Key findings from the study, which used 2022 statistics provided by the USDA's National Agricultural Statistics Service and analysis of the data by World Perspectives, include:

Corn Exports via US Beef and Pork - Beef and pork exports totaled 503.4 million bushels of corn used in the US, representing a market value of $3.4 billion (with an average corn price of $6.75 per bushel).

Beef and pork exports accounted for 3.42 million tons of DDGS use, which equals $834 million (at an average price of $244 per ton).

Exports of beef and pork contributed an estimated total economic impact of 15%, or $1.01, of the value of a bushel in 2022 at an average price of $6.75 per bushel.

US Pork Soybean Exports - Pork exports amounted to 89.7 million bushels of soybeans used in the US, representing a market value of $1.33 billion (at an average price of $14.83 per bushel).

Pork exports contributed an estimated total economic impact of 13% of the value of a bushel, or $1.94, in 2022 at an average price of $14.83 per bushel.