The average price of alfalfa hay during March dropped below $200 per ton, which is the first time that’s occurred since April 2021. The March average price for alfalfa hay retreated to $195, down $5 per ton from the previous month. According to the USDA’s Agricultural Prices report, this was the 11th consecutive month of price decline since hitting a record-high average price of $287 per ton during April 2023.
The average price for Supreme and Premium alfalfa hay during March dropped by $7 per ton following a $4 per ton rise in February and settled at $271.
The average grass hay price fell by $9 per ton to $161 in March.
Only two states posted double-digit month-over-month gains in alfalfa price during March. Texas was up $15 per ton while Nevada was up $10.
Double-digit declines in the March alfalfa hay price occurred in 12 states and were led by Arizona, New Mexico, and Wyoming, which were all down $15 per ton from February. Average alfalfa hay prices in Iowa and Kansas dropped by $11 per ton, while California, Idaho, Michigan, Montana, Oregon, Utah, and Washington were all down $10 per ton.
The highest average March alfalfa hay price was reported in Texas at $298 per ton and was followed by New Mexico ($255) and California ($250).
North Dakota easily had the lowest alfalfa price at $113 per ton. It was followed by South Dakota at $151 per ton and Minnesota at $152.
Keep in mind that USDA average prices account for all qualities and bale types of hay sold. Also, the final U.S. estimate is a volume-weighted average rather than a simple average of state values. Those states with the most volume sales will impact the final U.S. dollar value more than those states with fewer sales.
Supreme and Premium
The USDA also tracks the prices of Supreme and Premium quality alfalfa in the major dairy states and determines an average price from the five top milk-producing states (California, Idaho, New York, Texas, and Wisconsin). This data is used to determine feed prices in the Dairy Margin Coverage (DMC) program.
For March, the average price of Supreme and Premium alfalfa hay dropped by $7 per ton to $271. It’s usually during this time of year when high-quality hay is in short supply. One year ago, the average price of Supreme and Premium alfalfa hay was $314 per ton.
Other hay
The March average price of other hay (mostly grass) dropped to $161 per ton and is currently $10 per ton lower than a year ago.
The highest March price for hay other than alfalfa was reported in Texas, Oregon, and Washington at $225 per ton. New Mexico followed at $215 per ton.
North Dakota had the lowest reported other hay average price at $80 per ton. It was followed by Oklahoma at $101 per ton.
No comments:
Post a Comment