Kansas Soybean Update with Philip Lobo

(Jamie) Welcome back to Farm Factor and the Kansas Soybean Update.
(Greg) This is the Kansas Soybean Update. It’s brought to you by the Kansas Soybean Commission. The Soybean Checkoff, Progress Powered by Kansas Farmers. Philip Lobo, Director of Feed Utilization for the United Soybean Board joins us and Philip, one of the vital parts of agriculture in Kansas is animal agriculture and how it has had an effect on the economy in the state. (Philip) We just introduced our economic analysis of animal agriculture which covers from 2004 to 2014. That was actually contracted out to an economics firm Decision Innovation Solutions and it provides a complete data base on animal agriculture economics and the implications for soybean meal at both the national level and by state. (Greg) And soybean meal is one of the key feed ingredients that many producers use and really has become an important part of Kansas animal agriculture. (Philip) Kansas animal agriculture in 2014, it consumed over 400,000 tons of soybean meal. About 46 percent of that went to hogs, about 40 percent of it went to beef cows and about 10 percent went to dairy cows. (Greg) The integration of that fact that it’s integrated it so much within the industry, that animal agriculture is the big benefit of that but the soybean industry within the state is a big beneficiary as well. (Philip) Really it’s the people of Kansas that are benefitting from the expansion of animal agriculture in the state. The numbers in the study show that animal ag expansion in Kansas from 2004 to 2014 grew your state’s gross state product by over $4.3 billion dollars in that 10 year period and it boosted household earnings by $691 million dollars over that 10 year period, plus added over 20,000 new jobs and contributed over $170 million dollars in additional tax revenues per year. (Greg) There are many that would say there are challenges in the next decade that are going to be in animal agriculture, but I’m sure there could be just as many opportunities within that time frame too. (Philip) One of the reasons we do this study is to identify areas of opportunity both nationally and by state. Our checkoffs and other related organizations in the states can find those areas of opportunities and help support them. Another real key goal of this study is to show that animal ag can be a reliable contributor to a healthy diversified economy both at the national level and at the state level. (Greg) That is Philip Lobo, Director of Feed Utilization for the United Soybean Board who joins us on the Kansas Soybean Update. It’s brought to you by the Kansas Soybean Commission. The Soybean Checkoff, Progress Powered by Kansas Farmers. Learn more at kansassoybeans.org. For Kansas Soybeans, I’m Greg Akagi.
(Jamie) Hope you enjoyed this week’s Kansas Soybean Update. After the break we’ll join Duane and Tom Sleight, US Grains Council President

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