What does Genesis 47:12 mean?

At the command of Pharaoh and with his blessing, Joseph has established his large family in the region of Goshen, also called the land of Rameses. They now have as their possession the best of the land of Egypt (Genesis 47:1–11).

Why has Pharaoh done this for them? He favors Joseph very highly. He holds Joseph responsible for saving Egypt and much of the world from a devastating famine (Genesis 41:39–41) that will continue to afflict the region for another five years (Genesis 45:1–11). It seems Pharaoh knows he owes Joseph more than he could ever repay. He is certainly grateful. From that perspective, his treatment of Joseph's family seems quite appropriate.

Now Joseph begins to distribute a regular allotment of food to every member of his father's household. It's true they owned large herds and flocks, but the family would still require bread made from the grain stored away by Joseph during the seven years of bounty that preceded the famine (Genesis 41:47–49).

For his part, Joseph believed God had brought him to this point in his life for this very purpose. His suffering and struggles were not meaningless, but rather were meant to save his family in their time of need (Genesis 45:5–8).