USMEF: Updated Study Quantifies Value Delivered to Corn Producers through Red Meat Exports
Juday on Updated Red Meat Export Value to Corn Study 12-17-18
TRANSCRIPT:
The U.S. Meat Export Federation (USMEF) has received the results of an updated study aimed at quantifying the value delivered to U.S. corn producers through exports of red meat. The original 2016 study, as well as the 2018 follow-up, were conducted by World Perspectives, Inc., a leading agricultural consulting firm.
Dave Juday, senior analyst for World Perspectives, explains that the updated study was prompted by significant growth in U.S. beef and pork exports, which have increased 26 percent since data was collected for the original study. He notes that 11 percent of the price of corn this year will be derived from beef and pork exports, with red meat exports’ impact on corn prices equating to about 39 cents per bushel, based on an annual average price of $3.53 per bushel. In 2018, this amounts to $5.7 billion to the U.S. corn sector.
The updated study is available online. If you have questions or would like an interview with Mr. Juday (pronounced Joo-DAY), please don’t hesitate to contact me.
Please note that this is the final Weekly USMEF Audio Report of 2018. Our next weekly report will be issued Monday, Jan. 7.
Thank you and happy holidays!
The U.S. Meat Export Federation (www.USMEF.org) is the trade association responsible for developing international markets for the U.S. red meat industry. It is funded by USDA; the beef, pork, lamb, corn and soybean checkoff programs, as well as its members representing nine industry sectors: beef/veal producing & feeding, pork producing & feeding, lamb producing & feeding, packing & processing, purveying & trading, oilseeds producing, feedgrains producing, farm organizations and supply & service organizations.
Written, recorded and submitted to The BARN by:
Joe Schuele
Vice President, Communications
U.S. Meat Export Federation
303-226-7309 (office)
303-547-0030 (mobile)