June is the time of the year when swine producers from around the world migrate to Des Moines, Iowa for the World Pork Expo. For three days, growers obtain the latest information on swine equipment, new biologicals, new swine genetic crosses, government regulations, and nutritional advances. The Soybean Meal INFOcenter each year looks forward to participating in the trade show and visiting with major users of soybean meal. Swine (nursery pigs, growing/finishing rations, gestation diets and adult maintenance feeds) account for about 25% of all domestic use of soybean meal. Soybean farmers appreciate the opportunity to service the swine industry in providing a uniform, high-quality protein feed ingredient that makes the formulation of productive swine diets a reality. Together, swine producers and soybean farmers have a common goal of expanding Profitable Swine Production. It is a “win-win” for the Worlds Pork Producers and our Nation’s Soybean Farmers.
Soybean Planting Season is Here
The U.S. Department of Agriculture (USDA) is predicting the U.S. soybean farmer will produce a record 3,635 million bushels of soybean this summer which is up 346 million bushels from the 2013. This estimate is based on farmers planting 81.5 million acres with an average yield of 45.2 bushels per acre. Again, these are estimates that will be determined by the environmental conditions at planting and during the growing season. With an average growing season, USDA anticipates this soybean crop will increase by 7.4% over last year.
Soybean meal supplies are expected to increase by about 2% resulting in both increased meal for domestic use and for exports. The animal and poultry producer should benefit from the lower anticipated meal prices in the coming months.
U.S. Soybean Production
(*) Estimated; (**) Projected
World Agricultural Supply and Demand Estimates, USDA/WAOB, WASDE-529, May 9, 2014