Study: Animal Agriculture Keeps Soybeans Growing

US - The United Soybean Board (USB) recently utilized soybean checkoff funds to conduct an economic analysis of the livestock industry - the U.S. soybean farmer's top customer.
calendar icon 7 October 2008
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This study, compiled by Promar International Inc., was done to first highlight the economic value of this industry and then to further demonstrate the importance of this industry to the U.S. soybean farmer.

"Without these industries, a large amount of soybeans would be underutilized"
Laura Foell a soybean farmer from Schaller, Iowa, and USB farmer-leader.

As relocation of the animal agriculture industry becomes a concern, "The Nationwide Economic Impact of Animal Agriculture" shows the economic contribution the livestock industry gives to a state through tax revenues, employment, earnings and output. This study not only breaks down the economic value of the livestock industry to U.S. soybean farmers, but also to each state and the country.

"This analysis shows the economic impact the animal agriculture industry has on rural communities," says Laura Foell a soybean farmer from Schaller, Iowa, and USB farmer-leader. "It's an important tool to help get the facts out about the economic benefits this industry offers to local communities and states in addition to U.S. soybean farmers."

For example, overall the animal agriculture industry employs more than 3.3 million people nationally. In 35 states this industry provides at least 10,000 jobs, and in two states more than 100,000 people are employed in animal agriculture. In fact, in Texas over 200,000 people work in this industry.

This report is a unique tool because it is the first time this type of information on all 50 states has been made available in the same publication. The information gives a breakdown on each livestock category and state along with the estimated soy consumption of each species by state. Information such as this demonstrates the interdependency between the soybean and livestock industries. Market trends that have an effect on the livestock industry are also discussed.

"Livestock and poultry are the number one consumers of soybean meal," adds Foell. "Without these industries, a large amount of soybeans would be underutilized, making the soybean less valuable to the producer."

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