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Weekly Hay Market Report-Upper Midwest
Posted 07 July 2008 - 05:13 PM
The information presented in this report is compiled from public and private sales and reports in the Midwest.
In Nebraska, hay prices were steady. Inquiry and demand were very good with light to moderate trade activity. For Iowa, hay prices were $29.40 higher. Inquiry was up. Trade activity was light. In South Dakota, hay prices were $11.30 higher. In Missouri, hay prices were steady. The supply and demand were moderate. Farmers finally saw several days suitable for haying in the past week. Most of this year’s grass hay cut near the 4th of July would be far past prime cutting stages, but excess moisture and a late start to growing has allowed most hay to hold on to feed value longer than usual this season. In Southwest Minnesota, hay prices were mixed to $28.95 higher. Sales activity was light.
The demand for Illinois hay was moderate for lower quality hay, but very good for the good to premium quality hay. Prices were $4.70 higher. Sales were moderate and prices were steady to 20.00 higher. Much of Illinois's first cutting of alfalfa was baled behind schedule due to persistent May rainfall. According to the Illinois Weather and Crop report, as of June 29, there was 95% of the first cutting of alfalfa complete, compared to 100% last year and for the five year average. Only 15% of the hay producers had completed their second cutting, compared to 45% last year and the five year average of 44%. The rain has not only put the state's corn and soybean crops behind, but the hay crop too. Wheat harvest was also 10 to 14 days behind schedule this year, thus putting the harvest of straw behind schedule. Straw prices were steady at the end of the month with improving demand from the feed sector.
For Wisconsin in most north and central areas, hay quality and quantity has been good, with reports of first crop hay better than last year’s. Too much rain in early June hurt hay quality in southern parts of the state. Some second crop hay was nearing harvest in the east central area of the state, while farmers in some west central and southern counties have already begun harvesting. First crop hay was reported at 87 percent compared to 97 percent last year and the 5-year average of 91 percent. Second crop hay was reported at 3 percent harvested. Pastures were reported as being productive. Pasture condition was reported as 1 percent very poor, 3 percent poor, 17 percent fair, 56 percent good, and 23 percent excellent.
Straw prices in the Midwest averaged $2.75 per small square bale (range of $2.00 to $3.50); $22.50 per large square bale (range of $22.50 to $22.50); and $27.50 per large round bale (range of $27.50 to $27.50). .
Hay Price Summary
---------- Price ($/ton) ----------
Prime (> 151 RFV/RFQ)
Grade 1 (125 to 150 RFV/RFQ)
Grade 2 (103 to 124 RFV/RFQ)
Posted 09 July 2008 - 09:42 PM
Compared to year-earlier levels, hay prices in the Upper Midwest ticked steadily upward during the first half of 2008, reports University of Wisconsin extension educator Ken Barnett in the July 4 edition of the “Weekly Hay Market Demand and Price Report for the Upper Midwest.”
For the period Jan. 1-June 30, Barnett notes small square bale prices were 51% higher overall in 2008 compared to 2007. Prime hay increased by 33%, grade one by 60% and grade two by 61%.
Over the same time period, large square bales were 51% higher overall. Prime hay increased by 26%, grade one by 71% and grade two by 56%. Large round bales were 74% higher overall. Prime hay increased by 68%, grade one by 72% and grade two by 82%.
When all bale types and qualities were combined, Barnett says the overall increase in hay price was 59%.
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