Florida Cattle Market Update: May 2024 – Hay Stocks & Pasture Conditions

USDA releases the Crop Production report each month, and hay stocks (hay on farm) are included in the May and December reports. The May 2024 Crop Production report shows that hay stocks in the United States are up 46% year-over-year. However, hay stocks in May of 2023 (hay produced in 2022) were the lowest seen since 2013. So, it is not to say that pasture conditions have been perfect in that last year, but this increase shows that they certainly have improved since 2022. May hay stocks in the top ten beef cow states make up 57% of all current U.S. hay stocks. Eight of the top ten show increases in hay stocks compared to 2023, where Kentucky and Missouri show slight decreases. In the southeast, eight out of the ten saw increases compared to 2023 with the exception of Alabama and Kentucky. Florida May hay stocks increased almost 3-fold since 2023.  Conditions have improved, but it is also important to note that since beef cows numbers have declined, it makes sense that hay stocks would increase with less cows to feed during the fall and winter months. Another important point to note here is that these numbers are state wide. Hay production differs across regions/counties within a state, especially a state like Florida. So again, the main takeaway is that the majority of the major beef cattle states are seeing improved and promising conditions going into the grazing season, as compared to the last two years.

Pasture conditions are similar to this time last year with 32% of Florida pastureland reported as being in very poor to poor condition and 68% reported as being in good to excellent condition. At the time of writing this, the U.S. Drought Monitor shows moderately dry conditions in Central and South Florida with little to no indications of drought in the other Southeastern states. Being from Georgia, I know farmers are praying for the rain to stop so they can get peanuts in the ground. Prayers for that rain to move south soon are at the forefront, so conditions will be favorable for both farmers and ranchers going into the summer months.

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Questions, contact Hannah at h.baker@ufl.edu
See this update and other helpful resources online at https://rcrec-ona.ifas.ufl.edu/about/directory/staff/hannah-baker/