Water Shortage Concerns Strengthen Price Floor on US Alfalfa

Water concerns in the Northwest region in the US that began in the summer of 2021 continue to put pressure not only on the current alfalfa harvest for 2021/22 but also for the 2022/23 season. Unlike the usual downward pressure on prices when harvest begins, prices have not decreased due to concerns regarding the upcoming harvest. Now in week 25, expectations are that current prices (USD 525/ MT FOB) levels will remain or even rise.