The U.S. Energy Information Administration's weekly ethanol production numbers fell back to Earth after unexpectedly high production estimates in the first two weekly reports of December. According to EIA data, daily average ethanol production for the week ending December 17, 2010 was 892,000 barrels per day. That's down nearly 5% from the previous week. This production rate implies 13.67 billion gallons of production on an annualized basis. Stocks for ethanol increased slightly to 16.8 million barrels, up from 16.7 million.
Average daily gasoline demand slumped slightly to 386.9 million gallons per day. Expressed as a percentage, daily average ethanol production was 9.68% of average daily gasoline demand.
On the co-products side, ethanol producers were using 13.525 million bushels of corn daily to produce fuel and 100,669 million metric tons of livestock feed, 88,886 metric tons of which were in the form of distillers grains. Ethanol producers were also supplying 3.86 million pounds of corn oil daily.
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