Soybeans: Exports, food vs fuel, economic benefit to US economy
Feedstuffs in Focus
English - September 14, 2023 05:14 - 14 minutes - 12.8 MB - ★★★★★ - 7 ratingsBusiness News News Business Marketing agriculture cattle industry agribusiness agriculture economics animal health animal nutrition beef chicken farming feed industry Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The National Oilseed Processors Association and the United Soybean Board recently unveiled a new study examining the value of the American soybean industry.
The study, “The Economic Impact of the U.S. Soybeans & End Products on the U.S. Economy,” found that the total economic impact of the US economy from the soybean sector is around $124 billion annually. Breaking that down, it comes to $85.7 billion from soy production and $9.8 billion from the processing side of the soy industry.
During the recent Farm Progress Show we caught up with Mac Marshall, Vice President of Market Intelligence with the United Soybean Board, to get more details on the recently completed study of the soybean industry to the overall economy and to get an update on exports and the food vs fuel debate. What might all the extra soybean meal mean for those of us in the US livestock industry.
This episode is sponsored by United Animal Health, a leader in animal health and nutrition. You can learn more about United Animal Health and how they are working to advance animal science worldwide by visiting the website at UnitedANH.com
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