When the U.S. hay supply is in good shape, prices usually fall, and that was certainly the case in 2024. During the November Hoard’s Dairyman webinar, Mike Rankin shared that May hay stocks were up 47% from a year earlier. That was the first May 1 increase in hay stocks in several years, bringing the inventory up to 2020 levels. USDA projects that alfalfa hay stocks will be up 8% and grass hay up 6%, but final numbers won’t be released until January.
“There is a lot more forage out there than has been in the previous few years,” noted Rankin, senior editor for Hay & Forage Grower.
The current hay price backs up that statement. Just two years ago, the average alfalfa hay price for September was $277 a ton. This year, it was more than $100 less, at $172 a ton.
Abby Bauer
December 30, 2025
