An updated study shows one in every five bushels of added feed demand for corn is due to beef and pork exports. The study, commissioned by the U.S. Meat Export Federation and conducted by an agricultural consulting firm, seeks to quantify the value delivered to U.S. corn producers through exports of red meat.
The original 2016 study showed that 2015 exports of U.S. red meat accounted for 11.7 million tons of combined corn and Dried Distillers Grains with Solubles use. The updated 2018 survey found 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. The study also found that about 11 percent of the price of corn this year will be derived from red meat exports.
Source: NAFB News Service