iets containing on a dry basis 0, 24.9 and 47.0 percent modified wet distillers grains (DGS) for 186 days. Wet DGS replaced a portion of corn and supplement in a diet containing dry rolled corn, corn silage, tub-ground corn stalks and supplement. Steers were implanted initially with Component E-S and terminally with Component TE-S. Daily gains were not statistically different among diets. Steers fed 47% DGS consumed less feed and tended to be more efficient. There were no statistically significant differences in carcass weight, backfat, ribeye area, marbling score or yield grade, however feeding 47% DGS decreased the percent of carcasses grading USDA Choice from 83 to 72 and the percent of carcasses meeting Certified Angus Beef standards from 19 to 12. Establishing the value of each carcass using a grid pricing structure indicated the average carcass values of steers fed 24.9% or 47% DGS were respectively $7 more than or $38 less than the carcasses from the control steers. With price of DGS at 1.0, 0.75 and 0.50 times the cost of corn on a dry basis feed costs ($/steer) were 181, 165 & 151 (corn, $2/bu) and 246, 237 & 218 (corn $3/bu) for 0, 24.9 and 47.0% DGS, respectively with DGS priced equal to corn; 181, 155 & 134 and 246, 222 & 192 with DGS priced 0.75 times the price of corn and 181, 146 & 117 and 246, 208 & 166 with DGS priced 0.50 times the price of corn. This analysis indicated that high levels of wet DGS should not be fed when DGS is priced equal to corn, but the high levels can be fed at all prices of corn when the DGS is priced at 75% or less than the price of corn.