Start Date

21-2-2017 11:30 AM

Description

Hay quality is often discussed when one considers the viability of cash hay operations. A great deal is known about how production impacts quality and how quality impacts animal performance. This knowledge certainly has economic implications, but the economics of hay quality has primarily been evaluated from the animal performance perspective. Analyzing the economics of hay quality from the cash hay producer’s prospective becomes more difficult due to data limitations.

There are approximately 2.5 million acres of hay produced in Kentucky annually. The vast majority of this hay is grass type hay that is produced and fed on beef cattle operations. Higher quality hay production represents a much smaller portion of Kentucky’s hay industry, yet yields much greater value on a per acre basis. While a much larger share of this “upper end” hay production is sold off the farm, most is sold through private treaty, which means sale data is not available. Auction markets are becoming more commonly used in hay marketing and provide greater opportunity to analyze factors that impact hay value.

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Feb 21st, 11:30 AM

The Economics of Hay Quality

Hay quality is often discussed when one considers the viability of cash hay operations. A great deal is known about how production impacts quality and how quality impacts animal performance. This knowledge certainly has economic implications, but the economics of hay quality has primarily been evaluated from the animal performance perspective. Analyzing the economics of hay quality from the cash hay producer’s prospective becomes more difficult due to data limitations.

There are approximately 2.5 million acres of hay produced in Kentucky annually. The vast majority of this hay is grass type hay that is produced and fed on beef cattle operations. Higher quality hay production represents a much smaller portion of Kentucky’s hay industry, yet yields much greater value on a per acre basis. While a much larger share of this “upper end” hay production is sold off the farm, most is sold through private treaty, which means sale data is not available. Auction markets are becoming more commonly used in hay marketing and provide greater opportunity to analyze factors that impact hay value.