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Pork exports boost South Dakota soybean market

Pork exports boost South Dakota soybean market

By Scout Nelson

In South Dakota, the soybean industry sees substantial benefits from the global pork market. Approximately 60 percent of the state's soybeans are sold abroad as whole beans or processed products like soybean meal or oil. A notable portion of these exports indirectly supports the pork and poultry industries that sell internationally.

A recent analysis by The Juday Group, using data from the USDA's National Agricultural Statistics Service, highlights the impact of pork exports on the soybean sector.

In 2023, pork exports utilized about 5.19 million bushels of soybeans produced in South Dakota, translating to nearly $73 million in value based on the average price of $14.07 per bushel. Nationally, pork exports represented 96.8 million bushels of soybeans, worth approximately $1.36 billion.

South Dakota soybean farmers contribute to these figures through their support of the U.S. Meat Export Federation (USMEF), funded by the soybean checkoff. USMEF operates in over 80 countries, focusing on market expansion through strategic marketing, promoting trade, and enhancing market access.

Brent Greenway, a board director for both the South Dakota Soybean Association and the South Dakota Pork Producers Council, emphasizes the importance of livestock demand for local soybean producers. He praises the quality of South Dakota soybeans, noting their contribution to healthier livestock and better-quality meat products.

Randy Spronk, USMEF Chair, echoes this sentiment. He discusses the role of high-quality feed inputs, including soybeans and corn, in sustaining superior production practices. These practices are part of the narrative USMEF uses to differentiate U.S. meat products in international markets.

To delve deeper into how South Dakota's soybean checkoff supports livestock and export growth, local farmers are encouraged to reach out to their district directors for more information on these strategic efforts.

This collaboration underscores the intricate relationship between crop farming and livestock production, benefiting both sectors and reinforcing the state's position in the global agricultural market.

Photo Credit -istock-sandramatic

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Categories: South Dakota, Business, Livestock, Hogs

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