Winter has tightened its grip, keeping hay markets steady but cautious as producers navigate uneven quality, feeding demand and slow exports.

The January Feed Outlook report shows estimates of the 2025-26 corn crop were elevated to 17 billion bushels. Corn production was already a record high prior to the update, subsequently the U.S. corn harvest was augmented by gains in harvested area – up 1.2 million acres and 1.3% from the prior forecast to 91.3 million.

Beef exports data for September took another downturn in September 2025, according to data released by the USDA. As expected, beef exports took another hit in September, with total beef exports dropping to the lowest level in five years.

Winter feed demand is increasing, but hay markets stay uneven as drought and moisture recovery shape supplies.

As harvest winds down and winter edges closer, hay producers find themselves in a season of recalibration.

As of October 2025, U.S. hay and forage markets are shaped by regionally divergent drought conditions, with alfalfa prices trending lower and grass hay prices fluctuating widely.

The September Feed Outlook report shows corn area harvested is raised 1.356 million acres and area harvested for sorghum is raised 40,000 acres. Associated yields are lowered 2.1 bushels per acre for corn and raised 1.4 bushels for sorghum. Taken together, these changes result in production gains of 72.7 million bushels for corn and 10.7 million bushels for sorghum.