Study Finds 11 Percent of the Price of Corn is Derived from Red Meat Exports
The U.S. Meat Export Federation (USMEF) has received the results of an updated study aimed at quantifying the value delivered to U.S. corn producers through exports of red meat. The original 2016 study, as well as the 2018 follow-up, were conducted by World Perspectives, Inc. (WPI), a leading agricultural consulting firm.
The original study, titled The Intersection of U.S. Meat Exports and Domestic Corn Use, concluded that in 2015 exports of U.S. red meat accounted for 11.7 million tons of combined corn and Dried Distillers Grains with Solubles (DDGS) use. In its update, WPI concluded that 2018 beef and pork exports will use a combined total of 14.9 million tons of corn and DDGS, which equates to an additional 459.7 million bushels of corn produced – an increase of 29 percent over the 2015 projections.
Other highlights from the updated study...
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