For the Quarter Ending March 2026
Distillers Dried Grain Soluble (DDGS) Prices in North America
- In United States, the Distillers Dried Grain Soluble (DDGS) Price Index rose quarter-over-quarter in Q1 2026, reflecting contracted supply.
- The Distillers Dried Grain Soluble (DDGS) Production Cost Trend increased in March 2026 as PPI reached 4.0%.
- Retail sales grew 4.0% and CPI rose 3.3% in March 2026, reflecting strong motor fuel demand.
- Industrial production grew 0.7% in March 2026, while domestic fuel ethanol production contracted in January 2026.
- The Distillers Dried Grain Soluble (DDGS) Demand Outlook strengthened in March 2026 alongside 4.3% unemployment.
- Consumer confidence hit 91.8 in March 2026, shifting meat consumption patterns toward poultry and swine.
- The Manufacturing Index expanded in March 2026, ensuring robust logistics for domestic transport and exports.
- Export volumes of dried distillers grains surged to a multi-month high during January 2026 shipments.
- The Distillers Dried Grain Soluble (DDGS) Price Forecast remained elevated in February 2026 as corn stabilized.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in March 2026 in North America?
- Severe winter weather temporarily plunged domestic ethanol and co-product production rates in late January 2026.
- Natural gas costs for drying operations spiked to record highs during late January 2026 storms.
- Livestock feed demand indicators strengthened in February 2026, driven by higher meat animal production indexes.
Distillers Dried Grain Soluble (DDGS) Prices in APAC
- In China, the Distillers Dried Grain Soluble (DDGS) Price Index rose quarter-over-quarter in Q1 2026, reflecting strengthened feedstock costs.
- A 1.0% CPI increase in March 2026 supported stable meat consumption, shaping the Distillers Dried Grain Soluble (DDGS) Demand Outlook.
- The 0.5% PPI growth in March 2026 elevated processing expenses, driving the Distillers Dried Grain Soluble (DDGS) Production Cost Trend.
- Industrial production grew 5.7% in March 2026, expanding ethanol run rates and Distillers Dried Grain Soluble (DDGS) supply volumes.
- Retail sales grew 1.7% and unemployment reached 5.4% in March 2026, softening downstream swine feed demand.
- Consumer confidence hit 91.6 in February 2026, while the Manufacturing Index expanded in March 2026, stabilizing agricultural processing.
- Domestic sow inventories tightened in Q1 2026, while Brazilian import volumes initiated in February 2026, impacting market balances.
- Global crude oil prices rallied in March 2026, influencing the Distillers Dried Grain Soluble (DDGS) Price Forecast upward.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in March 2026 in APAC?
- Domestic corn feedstock costs strengthened in March 2026, directly increasing ethanol and co-product production expenses.
- The 0.5% PPI growth in March 2026 elevated factory-gate prices and overall industrial processing costs.
- Global crude oil prices rallied in March 2026, raising energy overhead for agricultural processing facilities.
Distillers Dried Grain Soluble (DDGS) Prices in Europe
- In Germany, the Distillers Dried Grain Soluble (DDGS) Price Index rose quarter-over-quarter in Q1 2026, driven by surging energy costs.
- The Distillers Dried Grain Soluble (DDGS) Production Cost Trend increased in March 2026 as inflation reached 2.7 percent.
- Producer prices declined -0.2 percent in March 2026, while industrial production remained stagnant at 0.0 percent in February 2026.
- The Manufacturing Index expanded in March 2026, increasing ethanol availability and impacting the Distillers Dried Grain Soluble (DDGS) Price Index.
- The Distillers Dried Grain Soluble (DDGS) Demand Outlook stabilized in February 2026, supported by a 4.2 percent unemployment rate.
- Consumer confidence dropped to -24.7 in March 2026, contrasting with modest 0.7 percent retail sales growth in February 2026.
- The Distillers Dried Grain Soluble (DDGS) Price Forecast trended upward in Q1 2026 as European ethanol co-product supplies tightened.
- Natural gas exchange prices surged and agricultural soil moisture levels deteriorated across Germany during March 2026.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in March 2026 in Europe?
- Natural gas energy costs surged in March 2026, significantly elevating drying expenses for regional producers.
- European ethanol and co-product supply availability tightened significantly during Q1 2026 amid regional production shifts.
- Global domestic feed consumption strengthened in March 2026, supporting baseline demand for animal feed ingredients.
For the Quarter Ending December 2025
Distillers Dried Grain Soluble (DDGS) Prices in North America
- In United States, the Distillers Dried Grain Soluble (DDGS) Price Index rose quarter-over-quarter in Q4 2025, driven by increasing production costs.
- DDGS production costs increased in Q4 2025, influenced by a 2.7% CPI rise (December 2025) and 3.0% PPI (November 2025).
- Demand for DDGS faced headwinds from a weakened beef production outlook and tightened cattle on feed in Q4 2025.
- Overall consumer spending, indicated by a 3.3% retail sales increase in November 2025, supported animal product demand.
- Robust ethanol production in Q4 2025 ensured ample supply of Distillers Dried Grain Soluble (DDGS) in the market.
- Natural gas prices gradually rose in the final months of 2025, impacting DDGS drying costs. Corn feedstock inched up in November.
- Industrial production increased by 2.0% in December 2025; a 4.4% unemployment rate supported consumer purchasing power.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in December 2025 in North America?
- Rising input costs, including a 2.7% CPI increase in December 2025, pressured DDGS prices upward.
- Weakened beef production outlook and tightened cattle on feed in December 2025 dampened DDGS demand.
- Robust ethanol production in December 2025 maintained ample DDGS supply, influencing market dynamics.
Distillers Dried Grain Soluble (DDGS) Prices in APAC
- In China, the Distillers Dried Grain Soluble (DDGS) Price Index remained stable quarter-over-quarter in Q4 2025, reflecting mixed market signals.
- DDGS production costs increased in Q4 2025 as domestic corn prices rebounded, despite producer price deflation.
- Demand for DDGS was supported by the rapid expansion of China's animal feed market in 2025.
- China's Industrial Production rose by 5.2% year-on-year in December 2025, indicating robust economic activity.
- The Consumer Price Index (CPI) increased by 0.8% year-on-year in December 2025, suggesting subdued consumer demand.
- Retail Sales grew by 0.9% year-on-year in December 2025, reflecting weak consumer spending and stable unemployment.
- The Manufacturing Index expanded in December 2025, indicating improved business sentiment.
- Brazil received approvals to export corn-based DDGS to China in November 2025, potentially diversifying supply.
- China's fuel ethanol production declined in 2025, impacting co-production of DDGS during the period.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in December 2025 in APAC?
- Domestic corn prices rebounded in Q4 2025, increasing production costs for DDGS in China.
- Weak consumer spending, with retail sales up 0.9% in December 2025, tempered overall animal feed demand.
- Producer Price Index declined by 1.9% in December 2025, indicating deflationary pressure at the producer level.
Distillers Dried Grain Soluble (DDGS) Prices in Europe
- In Germany, the Distillers Dried Grain Soluble (DDGS) Price Index fell in Q4 2025, influenced by industrial deflation.
- DDGS production costs in Germany saw mixed trends in Q4 2025, with corn feedstock prices rising in October.
- Energy costs for industrial production, including natural gas, generally eased in Germany during Q4 2025.
- Demand for animal nutrition, particularly cattle and pig feed, strengthened modestly in Germany during Q4 2025.
- The Manufacturing Index in Germany was contracting in December 2025, indicating economic activity slowdown.
- Consumer confidence in Germany remained negative at -17.5 in December 2025, impacting animal product spending.
- Industrial production in Germany grew 0.8% year-on-year in October 2025, supporting stable ethanol co-product supply.
- Retail sales in Germany increased 1.1% year-on-year in November 2025, supporting animal product demand.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in December 2025 in Europe?
- Producer prices in Germany declined 2.5% year-on-year in December 2025, reflecting deflationary pressures.
- Consumer confidence in Germany was -17.5 in December 2025, dampening animal product demand.
- Manufacturing activity in Germany was contracting in December 2025, signaling economic slowdown.
For the Quarter Ending September 2025
North America
- In United States, the Distillers Dried Grain Soluble (DDGS) Price Index rose quarter-over-quarter in Q3 2025, driven by robust domestic livestock feed demand.
- DDGS demand outlook was bullish, supported by a 5.42% year-over-year retail sales increase in September 2025.
- Production cost trends for DDGS weakened in Q3 2025 due to lower corn feedstock costs and dipping natural gas prices.
- The 0.1% year-over-year industrial production increase in September 2025 suggested constrained DDGS supply.
- U.S. DDGS export volumes expanded significantly in July 2025, with notable surges to key international markets.
- The 4.3% unemployment rate in September 2025 supported consumer purchasing power, bolstering animal product demand.
- General inflation, indicated by a 3.0% CPI and 2.6% PPI increase in Q3 2025, influenced overall production costs.
- Consumer Confidence Index declined to 94.2 in September 2025, suggesting increased caution, potentially dampening premium animal product demand.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in September 2025 in North America?
- Domestic livestock feed demand strengthened in Q3 2025, with cattle prices reaching record highs.
- U.S. DDGS export volumes expanded significantly in July 2025, increasing overall demand.
- Ethanol inventories tightened in July 2025, suggesting constrained co-produced DDGS supply.
APAC
- In China, the Distillers Dried Grain Soluble (DDGS) Price Index rose in Q3 2025, influenced by higher corn feedstock costs.
- DDGS production costs increased as corn feedstock trended higher in September 2025.
- DDGS demand outlook strengthened in Q3 2025, supported by recovering swine and strengthening poultry production.
- Reduced ethanol plant operations in Q3 2025 constrained DDGS supply, impacting market availability.
- China's CPI fell 0.3% and PPI declined 2.3% in September 2025, indicating deflationary pressures.
- The Manufacturing Index was contracting in September 2025, signaling a slowdown in economic activity.
- Industrial production grew 6.5% and retail sales increased 3.0% in September 2025, offering demand support.
- China's corn imports plummeted in July 2025, contributing to domestic feedstock cost pressures.
- Consumer confidence at 89.6 and unemployment at 5.2% in September 2025 suggested reduced purchasing power.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in September 2025 in APAC?
- Higher corn feedstock costs in September 2025 directly increased DDGS production expenses.
- Reduced ethanol plant operations in Q3 2025 constrained DDGS supply.
- Strengthened animal feed demand in Q3 2025, from swine and poultry, supported price increases.
Europe
- In Germany, the Distillers Dried Grain Soluble (DDGS) Price Index fell quarter-over-quarter in Q3 2025, influenced by contracting industrial activity.
- DDGS production costs faced upward pressure from firming European maize prices in Q3 2025 and higher ethanol feedstock costs.
- However, producer prices for industrial products declined by 1.7% in September 2025, primarily due to lower energy costs.
- Demand for DDGS was supported by expected modest increases in German cattle feed production in 2025.
- Poultry feed demand in the EU is poised for growth in 2025, further strengthening DDGS adoption for sustainable sources.
- Overall industrial production in Germany decreased by 1.0% in September 2025, indicating a broader economic slowdown.
- Consumer price inflation rose 2.4% in September 2025, potentially impacting consumer purchasing power for animal products.
- The German unemployment rate remained stable at 6.3% in September 2025, supporting consistent consumer spending on food.
- European biofuel production, and consequently DDGS output, is increasing in 2025, contributing to overall supply.
- Europe continues as a substantial import market for DDGS in 2025, despite increasing domestic biofuel production.
Why did the price of Distillers Dried Grain Soluble (DDGS) change in September 2025 in Europe?
- DDGS production costs were mixed; maize firmed, but producer prices declined 1.7% in September.
- Contracting industrial activity and 2.4% CPI increase in September 2025 created demand headwinds.
- Stable 6.3% unemployment in September 2025 and growing poultry feed demand provided some support.