Study: US pork, beef exports bolster corn, soybean value

DENVER, COLORADO, US — US pork and beef exports helped bolster the bottom line for corn and soybean producers after a challenging year, according to an independent study conducted by the Juday Group and released by the US Meat Export Federation (USMEF).

In 2024, US pork and beef exports equated to $19.1 billion, an increase of $1 billion over 2023 and down just 2% from the 2022 record. With such strong value performance, these exports accounted for $2.4 billion in market value corn, $525 million to distiller’s dried grains with solubles (DDGS) and $1.12 billion to soybeans in 2024.

Corn and soybean growers support the promotion of US pork, beef and lamb by investing a portion of their checkoff dollars in market development efforts conducted by USMEF.

“Domestic feed usage is critical to our industries and the continued growth in red meat exports is encouraging,” said Dave Bruntz, USMEF vice chair, and corn, soybean and fed cattle producer from south-central Nebraska. “A significant share of the corn and soybeans we grow locally is ultimately exported through pork and beef. This study demonstrates how beef and pork exports drive value directly back to producers.”

The Juday Group analyzed 2024 data from the US Department of Agriculture’s National Agricultural Statistics Service to form the following key findings:

Exporting corn through US beef and pork

• Beef and pork exports accounted for 525.1 million bushels of US corn usage, which equated to a market value of $2.24 billion (at an average 2024 corn price of $4.27 per bushel).
• Beef and pork exports accounted for 3.04 million tonnes of DDGS usage, equating to $525 million (at an average 2024 price of $172.56 per ton).
• Beef and pork exports contributed an estimated total economic impact of 14%, or 59¢, of bushel value at an average price of $4.27 per bushel in 2024.

Exporting soybeans through US pork

• Pork exports accounted for 100.7 million bushels of US soybean usage, which equated to a market value of $1.12 billion (at an average 2024 soybean price of $11.11 per bushel).
• Pork exports contributed an estimated total economic impact of 13.2% of bushel value, or $1.46, at an average price of $11.11 per bushel in 2024.