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Larger hay supply leads to lower hay prices 

Charles Wallace
Jan. 17, 2025 2 minutes read
Larger hay supply leads to lower hay prices 

Wet conditions during haying may have reduced the quantity and quality of hay this year.

NDSU photo

Larger May 1 stocks and increased year over year hay production led to larger hay supplies in 2024 (Figure 1).  

Total hay production in 2024 was up 3.3% year over year, and combined with May 1 hay stocks, up 46.6% over 2023 levels to increase the total hay supply by 7.9% compared to year-earlier levels. The total hay supply was 1.7% below the 10-year average supply from 2014-23. 

Total hay production includes total alfalfa hay production, almost unchanged from 2023 levels and 8.4% below the 10-year average as well as total other hay production, up 5.5% year over year and 0.6% above the 2014-23 average.  

Coming into winter 2024/2025, Dec. 1 hay stocks were up 6.3% year over year, though still down 3.2% from the 10-year average. Hay supplies have recovered from the drought-reduced levels of 2022-23 (Figure 1) and, as a result, hay prices have dropped from record levels (Figure 2).  

Table 1 shows the top 10 state rankings for Dec. 1 stocks, all hay production, alfalfa hay production and other hay production, and highlights the considerable regional variation in hay production and stocks.  

Texas is the largest hay producer, mostly other hay, with production and Dec. 1 stocks well above average. Alfalfa hay production was down compared to the 10-year average in some important dairy production states (California and Idaho) as well as in some mostly beef cow states (Montana and South Dakota) that depend on alfalfa hay (Table 1).  

In many states, increased hay supplies are providing more management flexibility for cattle producers and lower hay costs are reducing annual cost of production somewhat. However, 2024 Dec. 1 hay stocks among major beef cow states, Florida, Kansas, Montana and North Dakota, are down year over year and below the 10-year average. — Derrell S. Peel, Oklahoma State University Extension livestock marketing specialist 

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