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USB CEO discusses soy demand
Last week’s announcement that Tyson plans to reduce its swine herd by 30 percent will affect the demand for soybean meal. But John Becherer, CEO of the United Soybean Board, is hopeful it will result in a stronger pork industry down the road.
“It’s a sobering situation,” says Becherer, “but at the same time, you can’t just look at what happens today, we really need to be looking to the future.”
Becherer believes the longer-term outlook for pork, chicken and beef is bright, as experts predict significant increases in the world population over the next 15 years.
“Mostly in the Pacific Rim countries-and along with that, increases in disposable income,” Becherer says. “Those people are going to want to eat the oil products. They’re going to want fried foods with the oil products. They’re going to want to eat things like fish, pork and poultry in some countries.”
Becherer is also excited about with improvements being made to the composition of soybean oil. “High oleic oil-that’s going to be in the market place, probably in reasonably good supply, in 2010. And then mid-oleic, low -linolenic, low saturated-fat oil that will come into the market place in a 2012 or 2013 time frame.”
Becherer made his comments during an interview with Brownfield on last week’s United Soybean Board See for Yourself tour.
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