US hay stocks on May 1 were down 11.8% from a year earlier with some key states showing significant declines, especially states west of the Mississippi River.
Only four states west of the Mississippi showed an increase in hay stocks, while 11 states east of the river showed declines, according to data from the USDA’s National Agricultural Statistics Service that was compiled and published by the Livestock Marketing Information Service in Denver.
TOTAL HAY STOCKS DOWN
All hay stocks on farms in the US on May 1 totaled 18.006 million short tons, down 2.42 million, or 11.8%, from 20.426 million a year earlier, the data showed.
However, a look at a map showing the deviation in total hay stocks from last year on May 1 is somewhat deceptive in that it shows only a percentage deviation. For instance, Arizona had a drop of about 56% from last year, but stocks this year were 20,000 tonnes, compared with 45,000 a year earlier.
But looking at a larger hay-producing state like Texas shows some ominous signs for cattle producers. May 1 stocks this year were pegged at 1.2 million short tons, down 750,000, or 38.5%, from 1.95 million a year earlier.
Montana’s hay inventory was put at 970,000 short tons, down 70,000, or 6.73%, from 1.040 million in 2020. Missouri stocks were listed at 1.0 million tons, down 410,000, or 29.1%, from 1.41 million a year earlier, and North Dakota was holding 950,000 tons, down 340,000, or 26.4%, from 1.290 million.
SOUTHEAST SUPPLIES UP
Meanwhile, other states, mostly in the Southeast, had more hay on hand on May 1 than a year earlier, the data showed. Yet these states aren’t the powerhouse hay producers of the Plains states. They are noted more for their grazing land than they are for hay production, and most of this grazing is in relatively small plots, compared with the Plains.
Kentucky farms had 950,000 short tons on hand, up 325,000, or 52.0%, from 625,000 a year earlier. West Virginia had 145,000 tons, up 50,000, or 52.6%, from 95,000; Virginia was listed at 480,000 tons, up 170,000, or 54.8%, from 310,000, and Mississippi, with 170,000 tons was up 40,000, or 30.8%, from 130,000.
DROUGHT MONITOR CHANGES
The weekly Drought Monitor from the National Weather Service shows some notable changes over the last couple of weeks. The biggest changes came in the Central and Southern Plains where a spate of storms relieved dry conditions.
The Northern Plains into the Upper Midwest also showed some change toward increased dryness with parts of North Dakota now listed with exceptional drought, and points east generally showed abnormally dry to severe drought as of last Tuesday.
CATTLE, BEEF RECAP
Fed cattle traded this week at $120 to $124 per cwt on a live basis, up $1 from last week. Dressed-basis trading was at $190 to $195, up $1 to $2.
The USDA choice cutout Tuesday was down $1.04 per cwt at $334.43, while select was off $5.13 at $298.28. The choice/select spread widened to $36.15 from $32.06 with 107 loads of fabricated product and 21 loads of trimmings and grinds sold into the spot market.
The USDA reported Tuesday that basis bids for corn from livestock feeding operations in the Southern Plains were unchanged at $1.00 to $1.07 a bushel over the Jul futures and for southwest Kansas were unchanged at $0.70 over Jul, which settled at $6.67 1/2 a bushel, up $0.08 1/4.
The CME Feeder Cattle Index for the seven days ended Monday was $140.22 per cwt up $0.61. This compares with Tuesday’s Aug contract settlement of $156.82 per cwt, up $2.22.