Partnership with pork delivers profit to soy
Beans make bacon, plain and simple
Soybean meal provides boosted energy to nursery pigs and is a good source of amino acids that are important for building protein and muscle growth in swine. Just as soybean meal in swine feed is essential, having pork as a top consumer of soybean meal is key to soybean profitability.
In June, the U.S. Meat Export Federation released its “Exporting Kansas Soybeans through U.S. Pork” report. This report details the impact pork exports had on the value of soybeans in Kansas during 2021.
“The soybean checkoff keeps gaining value as we invest in animal agriculture and international markets,” Keith Miller, District 5 Commissioner says. “It is important to recognize and support the partnership we have with the pork industry.”
Pork exported from the U.S. consumed 423,000 bushels of Kansas-grown soybeans. The market value of those exports to Kansas soybeans – calculated by the bushel number multiplied by the average annual soybean price – came to 5.6 million.
The estimated economic impact determined that 12.6 percent of the bushel value, or about $1.65 out of the average $13.13, came from pork consumption. Per acre, pork’s contribution to profitability is $65.`8.
“The soybean industry has been a solid partner in developing international markets for U.S. pork,” John Hinners, USMEF Senior Vice President of Industry Relations, says. “This support is critical to the export growth the pork industry has achieved.”
Pork exports set two records in 2021. Of the total U.S. pork supply, 29.4 percent was exported and the value of those exports reached $62.86 per head slaughtered. Pork exports account for the fastest-growing category of soybean meal usage for six years running – a big win for U.S. soy.
The report also explored feed use by exported meat cuts on a per head basis. Ham, picnic and butt included the most pounds of soybean meal.
You can read more about the relationship between pork exports and Kansas soybeans on the animal agriculture page at kansassoybeans.org or by visiting usmef.org. World Perspectives conducted the independent study.
Animal agriculture continues to be the number one customer of U.S. soy with 97 percent of soybean meal produced being consumed by livestock. In Kansas, pork consumption takes the top spot.