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DDG Weekly Update
Mary Kennedy 4/16 11:20 AM
OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG) from the 39 locations DTN contacted with spot offers for the week ended April 15 was $212 per ton, unchanged from one week ago.
DDG prices were mixed this week as soymeal prices backed off. Traders note DDG prices for late summer and early fall have been starting to strengthen. The expanding drought covering much of the western U.S. is affecting pasture and range conditions and forage growth, causing feeders to look for replacement feed. The USDA weekly crop progress for the week ended April 11 noted that hay and roughage supplies in North Dakota were rated 16% very short, 32% short; Utah was rated 10% very short, 30% short; Wyoming was rated 21% very short, 26% short; and New Mexico was rated 40% very short, 38% short.
Wednesday's Energy Information Administration report showed overall ethanol plant production dropped 34,000 barrels per day (bpd) or 3.5% to 941,000 bpd. Four-week average output at 955,000 bpd was 179,000 bpd higher than the corresponding four weeks in 2020.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 15 was 100.61% versus the five-year average of 109%. The value of DDG relative to soybean meal was 52.75% versus the three-year average of 42%. The cost per unit of protein for DDG was $7.85, compared to the cost per unit of protein for soybean meal at $8.46.
In their weekly DDGS export price update, the U.S. Grains Council said, "On the export front, markets are stronger with a decrease in freight values attracting additional buying interest. Barge CIF NOLA offers are up $2 to $3 metric ton (mt) for Q2 positions while FOB Gulf offers are up $7 to $8/mt for May-July. U.S. rail rates are mostly steady while 40-foot containers to Southeast Asia are down $5 to $6/mt, averaging $335/mt this week for May/June."
NOTE: All prices listed below can change at any time and are subject to confirmation from seller.
Mary Kennedy can be reached at firstname.lastname@example.org
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