A new study shows red meat exports contributed $0.63 per bushel to US corn and $1.64 per bushel to US soybeans in 2021.
John Hinners with the US Meat Export Federation tells Brownfield the study by World Perspectives, conducted annually since 2015, shows the amount of corn and soybeans consumed by cattle and hogs that are harvested and exported.
“In 2021, cattle and hogs for red meat exports consumed 536 million bushels of corn.”
With an average price of $5.48 for corn and $13.13 for soybean ins 2021, he says red meat exports made up 11.5% of the price for corn and 12.5% of the price for soybeans.
