Economic report notes importance of US pig farmers in terms of contribution to economy

July 25, 2022

Economic report notes importance of US pig farmers in terms of contribution to economy

 

The United States’ National Pork Producers Council (NPPC) released a new economic report that highlights how pig farmers in the US are significant contributors to the agricultural and overall economy.

The report highlights pork industry value chain contributions and growth over the past five years.

“This report underscores how the pork industry is an important pillar to the US economy and the positive ripple effect it has on many other important sectors in the American supply chain,” said Holly Cook, NPPC staff economist. “From farm to fork, the combined economic contribution from hog production and pork processing supports more than 600,000 American jobs and generates US$178 billion of direct, indirect and induced sales that equate to US$57 billion in value-added GDP.”

Key takeaways in the report include:

   – The pork industry supports 613,823 direct and indirect jobs in the US;

   – In 2021, more than 66,000 pig farms sold more than 140 million hogs worth over US$28 billion in gross cash receipts. The number of U.S. pig farms has grown since 2012;

   – Farming and processing sectors are responsible for supporting more than US$35 billion in personal income and boosts economic activity in related services such as trucking, grain elevators, insurance and other rural-based businesses;

   – In 2021, approximately 25% of US pork was exported abroad, which equates to seven billion pounds of pork valued at US$8 billion. Additionally, exports added more than US$62 per head in value to each pig marketed in 2021;

    – The US pork industry generates significant economic activity through its purchase of inputs. Feed inputs, such as corn and soybean meal, account for an estimated 56% of total US production costs.

– Southeast AgNet

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