New report details economic impact of pork industry

National Pork Producers Council releases economic contribution report detailing the impact America’s pig farmers have on the agricultural and overall economy.

The National Pork Producers Council has released a new economic contribution report detailing the impact America’s pig farmers have on the United States’ agricultural and overall economy. The report highlights the pork industry’s value chain contributions and trends in production and industry structure.

"America's pork industry is a vital pillar of our nation's agricultural economy, contributing over $62 billion annually and supporting hundreds of thousands of jobs across the country,” said NPPC President Lori Stevermer, a pork producer from Easton, Minn. “Producers are committed to delivering wholesome, affordable, sustainable pork products that not only feed millions of families but also drive economic growth and innovation in rural communities."

Key takeaways from the report:

The pork industry supports an estimated 573,311 direct, indirect and induced jobs in the United States.
In 2023, more than 60,000 pig farms sold more than 149 million hogs worth over $27 billion in gross cash receipts.
The U.S pork industry supports more than $37 billion in personal income and boosts economic activity in related services such as trucking, grain elevators, insurance and other rural-based businesses.
Approximately 25% of U.S. pork was exported abroad in 2023, amounting to nearly 7 billion pounds of pork valued at over $8 billion. Pork exports help support more than 143,000 U.S. jobs.
The pork industry generates significant economic activity through its purchase of inputs. Feed inputs, such as corn and soybean meal, account for an estimated 52% of total U.S. production costs, with purchases valued at nearly $13 billion annually.

"Last year brought significant financial challenges for U.S. pork producers, marked by decreased gross cash receipts and a substantially higher average cost of production in 2023," said Holly Cook, NPPC economist. "Despite these hurdles, this report demonstrates that the pork industry remains a vital contributor to the nation's economy and a key player in global trade.”

Source: National Pork Producers Council