Beef Buzz News
Price of Hay Surges as US Livestock Industry Grapples with Tightest Hay Stock Supply Since 2013
Tue, 15 May 2018 11:18:59 CDT
When wildfires hit northwest Oklahoma this April, the call went out again for hay. But, unlike the year before, not nearly the same amount of hay was trucked in from other parts of the country. Jim Robb of the Livestock Market Information Center told Radio Oklahoma Ag Network Farm Director Ron Hays, that is because hay stocks are so low this spring - depleted over the past several months. Stocks started out lower year-over-year back in December 2017, but today, Robb says current hay stocks have dwindled down now to levels not seen since 2013. Click here for USDA's latest Crop Production report and scroll down to page 6 for a look at the Hay Stocks numbers.
"We expected nearly record tight nationwide hay stocks as of May 1, reported by USDA. It actually came in tighter than we anticipated," Robb said, noting that even more hay was fed than usual this year across the Plains, especially in the Southern Plains where weather has remained extremely dry. "So, these hay stocks are very tight and we've seen that in hay prices which have been moving consistently higher year-over-year."
As we move into the new crop year, Robb says that nationwide fewer hay acres will likely be harvested. The situation is even more acute in the Southern Plains, he says, adding that producers will really need to look at this from a management perspective - keeping an eye on how this next crop develops. Based on his own observations, Robb says it seems as though many fields are being baled up early and rather quickly, then hitting the marketplace directly. This fits the narrative heard around the state here at home, too, with many producers recognizing the value of hay as an option to help recover some of their input costs that went into wheat fields this year.
Listen to Robb and Hays talk about the tightening hay stock situation, on today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
Listen to Robb and Hays talk about the tightening hay stock situation, on today's Beef Buzz show.
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