Vetch up for grabs to make space for new crop
Strong spring rain forecast pressures growers to offload stocks to create storage space for new season bales.
THE rain last week was better than forecast. The heavier falls in the south may upset the cutting and curing of early silage in southwest Victoria but the lighter falls in the Mallee should not greatly affect the quality of vetch hay.
The baling of new crop vetch hay is only a few weeks away, but the most likely vetch hay being presented for sale are bales pressed last year.
Parcels of old crop vetch hay stored in the Mallee testing 18 to 20 per cent protein and 8 to 10 per cent ME units of energy are being offered at $170 to $180 a tonne ex-farm.
This hay is the cheapest vetch hay on the market as sellers are keen to clear stocks and free up shed space for new crop hay that is imminent.
Hay marketers are rightly making potential buyers aware of the wetter than average forecast for spring and that old crop hay could represent best value if further rainfall spoils windrows of cured vetch just as it is about to be baled.
Many hay growers with shed storage are not expecting to see a substantial depth of buyers in the hay market this spring. Hay prices have come back significantly, and the weather has been favourable for pasture growth.
These conditions are a return to how the hay market has often operated for many years. During spring growers often sell the hay they can’t store and stack the rest in their sheds.
It may be autumn until they begin to engage their marketing program as this is the traditional demand period for cereal hay.
Vetch hay has a different marketing timetable. The protein of vetch makes it an ideal replacement for rainfed grass pastures that have lost their clover content and are low in protein and high in fibre.
In this instance, vetch makes an ideal feed supplement during summer, especially for lactating dairy cows.
Oaten hay growers who have forward contracts in place with their hay exporters are feeling relieved that they will not need to compete for a credit worthy buyer in a heavily subdued domestic market this year.
Increasing competition will also be expected in the international market.
Hay exporters expect they will need to offer the highest quality hay at the most competitive price to gain business with their clients.
One hay quality attribute that hay growers expect to be scrutinised more closely is weed content.
For most oaten hay growers, the early break this year made it possible to get on top of weed control in their paddocks. But others may find their hay exporter strictly applying their grading system and discounting loads for weed content. While ryegrass makes an ideal feed for cows in Victoria or in Japan, it will be considered an impurity and a bargaining tool by north Asian buyers.
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