As we wrap Northwest Farms Credit Services outlook on 2018, we zoom in on hay and wheat. Karen Witt, Vice President of NWFCS said as far as the hay industry is concerned, the expectation is alfalfa and timothy producers will remain slightly profitable for the year.
“Prolonged snow cover in Montana, is preventing cattle from grazing the land forcing ranchers to deplete their stored hay. Exports are also contributing to strong alfalfa sales, but low profitability in the dairy industry is creating headwinds.”
Witt says after many challenges, Northwest wheat producers could see slight profitability for the year.
“Total U.S. wheat production is forecast down 25% which may provide price support into the 2018/19 crop year. The USDA projects 2017/18 season average farm price for all wheat just above the cost of production at $4.60 to $4.70 per bushel,” Witt added.
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