Posted: October 26, 2012
Challenges facing U.S. poultry, livestock and fish farmers threaten the future profitability of the country’s soybean farmers, according to a new report that also analyzes the economic impact of animal agriculture.
The report, prepared for the United Soybean Board (USB) and soy checkoff, concludes that the future success of the U.S. soy industry is closely tied to the long-term competitiveness of its No. 1 customer, animal agriculture. Rising feed prices and costs related to environmental and animal welfare regulations are just two factors that could significantly impact the practices involved with raising poultry, livestock and fish, the report says.
The study, which can be viewed in its entirety by clicking HERE, looks at the production of broilers, eggs, turkeys, hogs, beef cattle, dairy and aquaculture between 2001 and 2011. It details the use of U.S. soy meal in each sector and the value that sector represents to U.S. soybean farmers.
The study also outlines the economic benefits poultry, livestock, and aquaculture provide at the state and national levels.
For U.S. soybean farmers, U.S. animal ag remains their most important customer. Overall, poultry, livestock and fish farmers in 2011 used almost 30 million tons of soy meal, or the meal from 1.27 billion bushels of U.S. soybeans.