Soybean producers recently underwrote an aggressive United States Meat Export Federation initiative to bolster U.S. pork exports in an effort to help improve the economic outlook for one of its most valuable customers, the U.S. pork industry.
Soybean organizations from Minnesota, Nebraska and South Dakota, as well as the United Soybean Board, stepped up to the plate with an additional $1.35 million in funding to support USMEF’s pork marketing programs in the key international markets of Japan, Mexico and South Korea.
The Minnesota Soybean Research and Promotion Council got the ball rolling by investing an additional $800,000 toward USMEF promotions in Japan and Mexico during late 2009 and the first quarter of 2010. The Nebraska Soybean Board soon stepped forward with a commitment of $200,000 toward the same Japan/Mexico effort.
The “Pork Stimulus Package” gained further momentum when the United Soybean Board invested $250,000 in pork marketing programs in South Korea and the South Dakota Soybean Research and Promotion Council made an additional investment of $100,000. The purchasing power of the $1.35 million soybean industry investment will actually approach $4 million, because USMEF is able to use these funds to leverage support other sources.