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Soybean Meal Use Review
The United Soybean Board contracted with Promar International to
estimate current soybean product use and project use of soybean meal
and soybean oil in various market segments. The following table shows
meal estimates for 2002/3 and forecasts for 2007/8:
|
Estimates 2002/03 |
Forecasts 2007/08 |
| |
1,000 tons (Percent) |
1,000 tons (Percent) |
| Poultry |
15,092 |
(46%) |
16,554 |
(46%) |
| Swine |
8,369 |
(25%) |
8,955 |
(25%) |
| Beef |
4,369 |
(13%) |
4,432 |
(12%) |
| Dairy |
2,829 |
(8.5%) |
2,999 |
(8.4%) |
| Petfood |
821 |
(2.5%) |
870 |
(2.4%) |
| Aquaculture |
201 |
(0.6%) |
221 |
(0.6%) |
| Other Feed |
655 |
(2.0%) |
727 |
(2.0%) |
| Food & Industrial |
844 |
(2.5%) |
1,152 |
(3.2%) |
| Total Meal
Use |
33,220 |
|
35,910 |
|
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They estimate that about 46% of the soybean
meal use is consumed by broilers, layers and turkeys with another 25%
included in swine rations. Ruminants account for about 21% of total meal
use. The remaining 8% of the soybean meal finds its way into a large variety
of uses; petfoods, aquaculture, minor uses, food and industrial uses.
Using some sophisticated analytical methods, the consulting group predicted
steady meal growth of about 8% over the next five years. Major shifts
in soybean meal use by specie were not forecasted.
Soybean product segment review: Outlook to 2007/08. A report prepared
for the United Soybean Board by Promar International, (1101 King Street,
Suite 444, Alexandria, VA 22314; telephone 703-739-9090). March 2003.
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