Distillers dried grains (DDGS) price

Distillers dried grains (DDGS) are a protein feed, fed to raise a ration's crude-protein content. On a dry-matter basis they run about 29.5% crude protein and 88% TDN, roughly 0.93 Mcal of net energy for lactation per pound of dry matter, at about 90% dry matter as fed. Those figures come from University of Arkansas Cooperative Extension, Composition of Selected Livestock Feeds (FSA3043), from NRC Beef Cattle 1996 + Dairy One. The leaderboard uses them to convert this week's board price into a cost per pound of protein and per pound of energy, so it can be ranked against corn and soybean meal. Prices are quoted per ton, and the cheapest board price is not the cheapest fed price once freight and moisture are counted (see the FOB-vs-delivered guide). DDGS is what remains of a corn kernel after a dry-grind ethanol plant ferments off the starch, leaving the protein, fiber, oil and yeast to be dried and sold as feed. Plants are spread across the Corn Belt in a way wet mills are not, which is why DDGS prices regionally rather than off one national quote. Export demand, especially into Asia, competes with domestic dairy, beef and hog rations for the same tons, and sulfur content is the standing constraint on how much a feedlot can safely include. Most plants now pull corn oil out before drying, trimming the fat and energy DDGS carries against the full-fat product of two decades ago.