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The estimated total value of direct inputs used in the United States in 2023 is $19.0 billion based on long-run feed prices. Additional costs for depreciation of fixed assets and facilities total an estimated $3.2 billion. Labor and management expenses add an additional $2.6 billion of costs for a total of $24.8 billion of aggregate input costs used in hog production in the United States. The residual value between inputs and revenue is estimated to total $1.7 billion and can be described as returns to capital.
The largest single category of expenditure is feed. With 149.6 million head produced annually, 1.7 billion bushels of corn valued at $7.6 billion are used in the United States. The 1.7 billion bushels of corn represent 11.4% of the U.S. corn crop in 2023. The 11.2 million tons of soybean meal valued at $3.7 billion used in hog production represents the meal production from 462 million bushels of soybeans, or 11.1% of the 2023 U.S. soybean crop. The remaining feed supplements and additives represent another $1.6 billion of purchased inputs from suppliers in the United States.
June 2024/ National Pork Producers Council/ United States.
https://nppc.org
