Mark Johnson, Oklahoma State University Extension Beef Cattle Breeding Specialist, offers herd health advice as part of the weekly series known as the “Cow Calf Corner,” published electronically by Dr. Derrell Peel, Johnson, and Paul Beck. Today, Johnson discusses what hay is worth this year.
Over the past few weeks, once weather permitted baling of hay in Oklahoma and good yields were reported, buyers and sellers have been asking “What is hay worth this year?”
From January to May, the average price of all types of hay across the U.S. had been seasonally increasing, from $153/ton in January to $176/ton in May. With the majority of the country receiving ample spring and early summer moisture, May prices appear to have been the annual peak. In June, the same hay price was down $11 from a month earlier to $165/ton. Alfalfa posted a decrease as well, quoted at $177/ton, down $14 from May. As drought continues to hold a grip in the western U.S., it was mostly western states that quoted recent higher prices of hay.
As a result of increased hay stocks coming into 2025, more acres and Mother Nature’s help, hay prices have continued to trend lower. The price forecast had been for the U.S. hay price to average $165/ton in 2025. That expectation is likely on the high side, with potential back towards $157-$160 for an annual average. Prices are expected to have a typical seasonal decrease into the end of the year. Given that trend, fourth quarter prices should average around $150/ton.
Bottom Line: Increased acres and good weather will limit any significant increase in the hay market this year. While there may be some regional differences, prices are expected to trend near year ago levels, yet average $10-$15 lower in 2025. Accordingly, end users can be a little more patient this year in procurement as prices are expected to continue to trend lower for the next several months.
References:
https://www.ams.usda.gov/mnreports/ams_3095.pdf
https://www.cattlefax.com/#!/home/have-hay-prices-peaked
