In the wake of a challenging year for U.S. corn and soybean producers, an updated study shows how exports of pork and beef provide support to their bottom lines.
In 2024, U.S. pork and beef exports of $19.1 billion—an increase of $1 billion over 2023 and down just 2% from the 2022 record—had a significant impact on the corn and soybean industries, according to an independent study conducted by the Juday Group and released by the U.S. Meat Export Federation (USMEF). The study quantified the returns that beef and pork exports brought to U.S. corn and soybean producers.
Nationally, U.S. pork and beef exports accounted for $2.24 billion in market value to corn, $525 million to dried distillers grains with solubles (DDGS), and $1.12 billion to soybeans in 2024.
“Domestic feed usage is critical to our industries and the continued growth in red meat exports is encouraging. A significant share of the corn and soybeans we grow locally is ultimately exported through pork and beef,” says USMEF Vice Chair Dave Bruntz, who raises corn, soybeans and fed cattle in south-central Nebraska. “This study demonstrates how beef and pork exports drive value directly back to producers.”
Corn and soybean growers support the promotion of U.S. pork, beef and lamb by investing a portion of their checkoff dollars in market development efforts conducted by USMEF.
Key findings from the study, which utilized 2024 statistics provided by USDA’s National Agricultural Statistics Service and calculations by the Juday Group, include:
Exporting corn through U.S. beef and pork
• Beef and pork exports accounted for 525.1 million bushels of U.S. corn usage, which equated to a market value of $2.24 billion (at an average 2024 corn price of $4.27 per bushel).
• Beef and pork exports accounted for 3.04 million tons of DDGS usage, equating to $525 million (at an average 2024 price of $172.56 per ton).
• Beef and pork exports contributed an estimated total economic impact of 14%, or $0.59, of bushel value at an average price of $4.27 per bushel in 2024.
Exporting soybeans through U.S. pork
• Pork exports accounted for 100.7 million bushels of U.S. soybean usage, which equated to a market value of $1.12 billion (at an average 2024 soybean price of $11.11 per bushel).
• Pork exports contributed an estimated total economic impact of 13.2% of bushel value, or $1.46, at an average price of $11.11 per bushel in 2024.
For questions, please email John Herath at jherath@usmef.org or call 574-440-9345.—USMEF
