The dried distillers grains market had a quiet week with slow trading, although prices did manage to rise slightly.
DTN weekly spot price average rose $2 per ton, from $190 last week to $192 this week. The average has hovered between $185 and $192 per ton since Jan. 1, and in spite of the slight increase, is still at the lowest level since January of 2012.
Of the 30 Midwestern locations DTN collects spot prices from, 10 locations reported price increases between $5 and $10 per ton in the past week. Prices at 17 locations remained unchanged in the past week, and no price decreases were reported. Prices at one location were not available this week, and two locations had no price available or no offers last week, so the change was not available.
Merchandisers told DTN the market had been quiet, in part due to bad weather delaying some shipments. Also contributing to the slow trade was the fact that China is on holiday for their Chinese New Year celebration for an entire week. Some reported being sold out for February and March.
The value of DDG relative to corn this week remained fairly steady at 124%, while DDG's value relative to soybean meal was at about 45%. The cost per unit of protein for DDG this was $7.68, compared to the cost per unit of protein for soybean meal at $8.95.
Cheryl Anderson can be reached at Cheryl.email@example.com.
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