The United States Meat Export Federation recently released a new study that shows meat exports added 12 percent of bushel value to US. Corn growers in 2019. The study results show that without red meat exports, corn growers would have lost $6.4 billion in corn revenue last year. South Dakota Corn Grower’s President Doug Noem says the study shows the importance of the livestock industry to corn growers.
Last year, U.S. beef and pork exports used 480 million bushels of corn., while corn revenue generated by pork exports totaled $1.8 billion. The projected market value of red meat exports to US..corn from 2020 to 2029 is $23.1 Billion. Noem says that’s a very significant benefit for corn farmers.
He’s hoping the U.S. red meat industry keeps going strong and using corn. Noem also says that beef and pork exports used about three million tons of dried distillers’ grains with solubles in 2019 at an annual price of $137 per ton.
The use of DDgs generated $411.8 million in revenue for co products from ethanol mills.
