Talking Red Meat Export Impact on Corn and Soy Value at Commodity Classic

Dan Beef, Cattle, Corn, Exports/Imports, Field Crops, Marketing, Soybeans, Trade, U.S. Meat Export Federation (USMEF)

Photo by Kyle Mackie on Unsplash

During Commodity Classic last week in Orlando, U.S. Meat Export Federation (USMEF) leaders were on hand discussing the impact red meat exports have on corn and soybean prices.

USMEF Chair Dean Meyer, a livestock and grain producer from northwest Iowa, points out the importance of USMEF joining supporting commodity groups at the annual gathering.

During Commodity Classic, USMEF noted red meat exports accounted for 503.4 million bushels of corn usage in 2022 for a total impact of $13.87 billion to U.S. corn. On the soybean side, red meat exports accounted for 89.7 million bushels with a total impact of $8.3 billion. These are the latest figures from an independent study commissioned by USMEF and conducted by World Perspectives, based on 2022 export data.


USMEF Chair-Elect Randy Spronk, a pork producer from Minnesota, notes the concern over inflationary pressures and how that could impact farm profitability.

Spronk said that makes USMEF work to diversify global demand for red meat even more important.