Hay supplies are up by double digits over the last year, and that is helping keep costs down.
Frequent Market Day Report guest Dr. Darrell Peel says hay production was up more than three percent last year, and stocks, as of May 1st, were up nearly 50 percent over 2023 levels. Despite the gains, total hay supplies fell nearly two percent over the last decade.
Peel says that for producers in many states, increased supplies will mean more flexibility in the coming months.
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Treat storage as risk management and logistics, and budget to break even since export growth is unlikely to absorb bigger U.S. corn and soybean crops.
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“A can for your favorite pie, bread, or whatever, it is probably Illinois-grown.”
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