Exports of beef and pork products from the United States have seen some moderate success in 2018. While there has been some damage from trade disputes with China and Mexico, the products have found other avenues in the global market. One thing which sometimes gets overlooked is the value of the products fed to the livestock. A US Meat Export Federation (USMEF) commissioned report updates the value for corn producers.
USMEF commissioned a study in 2016 for corn producers to see the return value for corn in red meat exports. This year, they commissioned an update to those numbers. The report was handled by World Perspectives Inc. Their Senior Analyst Dave Juday says the success in red meat exports hasn’t just benefitted the meat producers.
To put the need for an update in perspective, Juday says we should see a red meat export value which will be 126% of 2015’s numbers.
Juday says export projections for the next decade could mean an additional 450 million bushels of corn used for feed. Juday also quantifies the value of red meat exports to bring almost 40 cents per bushel to corn producers.
If the increase in exports continues as the projected, we could be looking at a few more favorable updates for corn producers in the future.