Record meat and poultry exports contribute to soybean farmers’ profitability
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As incomes and population around the globe continue to grow, so does meat and poultry consumption. And these exports of U.S. chicken and pork help soybean farmers’ bottom lines by increasing demand for U.S. soybean meal.
“When we are exporting meats, in a way, we are also exporting soybeans,” says Rob Hanks, a checkoff farmer leader who farms soybean, swine and beef cattle in Le Roy, Minnesota. “Soybean meal is a main part of animal diets, and an increase in pork exports can lead to more demand for U.S. soybean meal.”
Because of their importance to the strength of the U.S. soy industry, the soy checkoff supports exports of U.S. meat. It partners with organizations like U.S. Meat Export Federation (USMEF) and the USA Poultry and Egg Export Council to promote the preference for and consumption of U.S. meat and eggs abroad.
The world’s top 10 pork and pork-variety-meat exporters, which includes the United States, set a new export-value record in 2014 of approximately $20.27 billion, according to USMEF. In 2014, U.S. pork export value hit a record $6.7 billion on volume of 2.2 million metric tons.
And it’s not just pork that’s bringing home the bacon. Since 2005, U.S. chicken exports have increased by 40 percent and are hovering near a record 3.3 million metric tons per year, with a value of $4.1 billion.
“Income growth has led to more pork consumption around the world,” USMEF economist Erin Borror says. “The countries where these increases are occurring cannot produce enough to meet demand, so global exports of pork continue to increase. That’s driven an increase in the overall value of exports.”
