As we wrap up our series looking at Northwest Farm Credit Services 4th quarter snapshots, we turn to hay and wheat. Northwest Farm Credit Services’ Karen Witt says the next 12 months looks profitable for alfalfa and timothy producers.
“Fundamental supply conditions favor hay prices and producer profitability across the West. Abnormally wet conditions across much of the U.S. coupled with drought in Australia and Europe will benefit Northwest hay sales.”
Witt said above-average wheat production should yield slightly profitable returns.
“Global supply is projected to decrease, favoring rising wheat prices. USDA’s projections suggest the 2018-19 season-average farm price for all-wheat will be between $5.05 to $5.25 per bushel,” Witt said.
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