USA: Forage production is up, and hay prices down

Published 2024년 7월 29일

Tridge summary

In July 2023, drought in the Midwest led to limited hay production and high prices, but by July 2024, increased moisture resulted in abundant forage and a significant drop in hay prices. Paden Lawler of HPL Auctions noted that hay prices began to fall in May 2024 as production surged, with alfalfa and grass hay prices dropping substantially. Karl Jacobson, a Kansas farmer, reported improved forage conditions and increased production. Experts like Lawler and Ben Beckman attributed the price decline to widespread moisture and additional forage acres, with little expectation for prices to rise soon. The article also discusses the relationship between hay prices and alfalfa acreage, advising livestock producers to avoid overgrazing and to monitor hay quality, recommending lab analysis for accurate assessment.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

OMAHA (DTN) -- A lot can change in a year. This is the case with Midwest forage production and hay prices. In July 2023, large portions of the Corn Belt were in different drought designations. The lack of moisture limited hay production, and hay prices continued to skyrocket. Fast forward to July 2024. Moisture returned in large quantities in many areas, and forage production has been plentiful up to now. Hay prices, in turn, have declined rapidly with the sudden influx of production. "It is a different market compared to last year at this time," Paden Lawler of HPL Auctions of Union, Iowa, told DTN. FORAGE PRODUCTION UP, HAY PRICES DOWN Once the moisture began to fall in May, so did hay prices, according to Lawler, who has a monthly hay auction nine months out of the year, minus the summer months of June, July and August. Hay prices held firm through April, but once everyone realized forage production was going to be high, prices began to fall in May, he said. First cutting for ...

Source: Dtnpf