Larger harvests are impacting dry hay markets in many regions as 2024 comes to a close. On-farm hay inventories, new seeding estimates and production summaries for all forage crops will provide a clearer picture in early January.

U.S. average price per gallon went down 57 cents since midspring due to production increases after refinery maintenance.

According to the USDA Cattle on Feed report published Oct. 25, total U.S. inventory of cattle on feed for the slaughter market on Oct. 1 was 11.6 million head, a slight drop from the same report in 2023.

The October Feed Outlook report shows this month’s 2024-25 U.S. coarse grains outlook is for reduced supplies, despite an increase in output. Although sorghum supplies are raised on higher production and beginning stocks, lower corn carry-in for 2024-25 more than offsets these gains – including a corn production bump.

While harvest slows down and cooler temperatures take over, the hay market is also showing some frosty edges. As they 2023 growing season comes to an end, we have a better idea of hay stores and what we have to deal with going into the winter months. Take a closer look at what prices and conditions are in each region in the Progressive Forage Forage Market Insights column as of Oct. 9, 2024.