Expect Higher Feed Prices this Winter, A Management Strategy Can Help Weather the Storm

The impact from this year’s drought continues to hit cattle producers across the country. Add already-high feed costs to the mix and producers are encouraged to start developing feed management strategies for the winter. Alfalfa and other forages continue to see the biggest increases, with USDA reporting a more than 20% spike in alfalfa hay. While beef cattle consumption of alfalfa hay varies by region, dairy cattle across the country use it as a primary feed source. On the grain side, corn prices continue to be 40- 50% higher year-over-year. While soybean prices have declined, other protein sources continue to be significantly higher, as well. The hardest hit location for drought and feed prices continues to be North Dakota and surrounding states. Read more on price outlooks and management strategies here.