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2022 red meat exports contributed record return to corn and soybean industries

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A new report shows US red meat exports contributed 15% to a bushel’s value of corn and 13% to a bushel’s value of soybeans in 2022.

John Hinners, Senior Vice President of Industry Relations with the US Meat Export Federation tells Brownfield that is the highest percentage since the annual study began in 2015.

“It was a record-breaking year for beef exports and the third largest export year for pork and that certainly helped that value, so it was a win-win for the beef industry, the corn industry, the soybean industry and the pork industry.”

Breaking down the percentages, Hinners says red meat exports contributed $1.01 for each bushel of corn at an average price of $6.75 and pork exports contributed $1.94 for each bushel of soybeans at an average price of $14.83.

2022 red meat exports contributed record return to corn and soybean industries