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Dried distillers grains are becoming hard to find as ethanol plants cut output, and cattle and pork producers face higher prices or longer waits for loads. As of the reporting date, 73 ethanol plants had fully idled and 71 had cut output by 10% to 50%.
Some DDG prices rose in several states, while others fell.
Tighter DDG supply raises feed costs for cattle and hog producers and pushes them toward substitutes such as soybean meal, supporting those ingredients.
agri-pulse.comBen NuelleApr 20, 2020Not enough comparable past events yet for a historical read.
After 44 past bullish macro events, Soybean Meal moved a median -0.6% over 5 sessions (34% higher; middle half -1.9% to +0.9%), and -2.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
