Beef and pork exports of $18.1 billion in 2023 had a significant impact on the corn and soybean industries. An independent study released by the U.S. Meat Export Federation quantified the returns that beef and pork exports brought to corn and soybean producers nationally and on a state-by-state level for leading corn and soybean-producing states.
Nationally, U.S. pork and beef exports contributed an estimated total economic impact of 14.6 percent per bushel to the value of corn and 13.9 percent per bushel to soybeans in 2023. The study shows that despite the headwinds facing the red meat industry in 2023, exports contributed substantially to the value of U.S. corn and soybeans. Beef and pork exports accounted for 512.7 million bushels of U.S. corn usage, equating to a market value of $3.05 billion.
Pork exports accounted for 96.8 million bushels of U.S. soybean usage, equating to a market value of $1.36 billion.
