Hay

starbust image Hay

Hay

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Executive summary

Industry information for Hay in the Pacific Northwest. Updated 3/31/2024
AgWest Farm Credit’s 12-month outlook for hay suggests breakeven returns for alfalfa and timothy hay.
12-MONTH PROFITABILITY OUTLOOK
12-Month Profitability Outlook
INDUSTRY DRIVERS
  • Decline in domestic demand due to a shrinking cattle population
  • Warmer winter weather
  • Financial challenges in the dairy sector, leading to lower hay prices
  • Hay exports dropped by 22% in 2023, with major international buyers reducing purchases significantly, further depressing hay prices

Profitability

The profitability of Northwest hay growers has been impacted by a sharp decline in hay prices. In February, the average price per ton for Northwest hay growers was $202, marking a 29% decrease compared to the previous year. While hay prices have come down, expenses remain elevated and sticky. Anecdotally, Northwest producers are selling at breakeven levels and still struggling to find buyers.



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News

Spokane, WA | April 4, 2024

A complex landscape for Northwest agriculture

posted by AgWest Farm Credit

AgWest Farm Credit has released its quarterly Market Snapshot reports covering the state of major agricultural commodities in its northern region of Idaho, Montana, Oregon, Washington and Alaska.

Spokane, WA | January 24, 2024

Challenging conditions for many ag industries in the Northwest

posted by AgWest Farm Credit

AgWest Farm Credit has released its quarterly Market Snapshot reports covering the state of major agricultural commodities in its northern region of Idaho, Montana, Oregon, Washington and Alaska.

Spokane, WA | October 4, 2023

Outlook mixed for ag industries in the Northwest

posted by AgWest Farm Credit

AgWest Farm Credit has released its quarterly Market Snapshot reports covering the state of major agricultural commodities in its northern region of Idaho, Montana, Oregon, Washington and Alaska.
Market Snapshots

September 30, 2023

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Industry Perspective

January 19, 2023

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