U.S. Meat Export Federation (USMEF) leaders were at Commodity Classic in Orlando last week (March 9-11, 2023) 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. He also discusses data released at Commodity Classic showing that 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 that discussion at Commodity Classic centered on concern over inflationary pressures and how that could impact farm profitability. He notes that makes USMEF work to diversify global demand for red meat even more important.
Dean Meyer.
Courtesy photo.
Randy Spronk.
Courtesy photo.
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