By Jamie Martin
The National Pork Producers Council (NPPC) has released a pivotal economic report highlighting the substantial role America's pig farmers play in bolstering the nation's economy.
The report emphasizes the pork industry's contributions, valued at over $62 billion annually, which supports an estimated 573,311 jobs across various sectors, from farming to services like trucking and insurance.
In 2023, over 60,000 pig farms in the U.S. marketed more than 149 million hogs, generating over $27 billion in gross cash receipts. The industry also plays a crucial role in the rural economy by supporting over $37 billion in personal incomes and enhancing economic activity in associated services.
The U.S. pork industry is a significant player in global markets, with about 25% of its production being exported. These exports, valued at over $8 billion, help sustain over 143,000 jobs nationally.
The industry also contributes to economic activity through substantial purchases of feed inputs, such as corn and soybean meal, which constitute approximately 52% of production costs, amounting to nearly $13 billion annually.
Despite facing economic challenges in 2023, including increased production costs and decreased gross receipts, the U.S. pork industry continues to be a cornerstone of the national agricultural economy and a vital element of global trade, demonstrating resilience and ongoing contribution to economic growth and innovation.
Photo Credit: national-pork-producers-council
Categories: National