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Hay Prices, Demand and Supply Overview
In Australia, the highest-cost reporting region, Hay prices moved only roughly 0.3% in Q3 2026, moving from close to USD 303/MT in Q2 to about USD 304/MT in Q3, and it was mixed weather and freight pressure offset by cautious export buying that most plausibly shaped the move. Across the tracked regions, the global average moved from near USD 263/MT in Q2 to just under USD 264/MT in Q3, a change of just above 0.4%. For Q4 2026, a global average of roughly USD 251 to 280/MT is expected, with crop moisture, dairy margins, and freight costs guiding the range.
Hay is grass or legume forage, mainly alfalfa, timothy, oaten, and Sudan grass, that is cut, dried, and baled for storage and sold in standard, compressed, and cubed forms. It is fed to dairy cows, beef cattle, horses, sheep, and small animals, with dairy cattle feeding taking the largest share of demand. Weather and drought, quality grade, dairy margins, diesel and freight costs, and export demand all feed into the price.
Hay Price Forecast for 2026
The balance of supply and demand for hay through the end of 2026 leans stable. Prices rose gently during the year, but export buying has been limited by freight costs, currency pressure, and uneven dairy margins. Lighter tonnage in some regions supports prices, while cautious buying limits gains.
The main upside risk is a drought that cuts hay tonnage or a drop in freight costs that revives export buying and lifts prices above the forecast range. The main downside risk is better moisture and weaker dairy margins, which would pull prices below the forecast.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 251 - 280 | Mixed weather guides the range |
| United States | 218 - 243 | Large supply keeps the United States lowest |
| Canada | 237 - 264 | Export links hold a lower middle |
| Australia | 289 - 322 | Irrigated supply holds a middle level |
| Spain | 260 - 290 | Compression and shipping costs hold the top |
For the Quarter Ending September 2026
Hay Prices Q3 2026:
- United States: USD 229/MT
- Canada: USD 249/MT
- Australia: USD 304/MT
- Spain: USD 274/MT
Hay Prices in United States
The United States market held to an average of roughly USD 229/MT in Q3 2026, a move of just about 0.4% against close to USD 228/MT in Q2 2026. What kept the range tight was mixed moisture in hay producing regions, while balanced export orders offset the pull in the other direction.
Why did the price of Hay change in Q3 2026 in United States?
The United States market sat in a narrow band as Balanced export orders and mixed moisture in hay producing regions cancelled each other out. Large alfalfa and grass hay production sets the reference, and prices vary widely by quality grade. The average for the quarter was roughly USD 229/MT.
Hay Prices in Canada
Canada Hay prices averaged near USD 249/MT in Q3 2026, little changed at just above 0.4% from just under USD 248/MT in Q2 2026. It was balanced export orders that held the market in balance, with mixed moisture in hay producing regions limiting any move.
Why did the price of Hay change in Q3 2026 in Canada?
Mixed moisture in hay producing regions and balanced export orders pulled in opposite directions through the quarter, and neither was able to dominate. Western Canadian growers export compressed bales to Asia and the Middle East, which adds freight and processing costs. The Canada average stayed at near USD 249/MT.
Hay Prices in Australia
The Australia market held to an average of roughly USD 304/MT in Q3 2026, a move of just about 0.3% against close to USD 303/MT in Q2 2026. What kept the range tight was mixed moisture in hay producing regions, while balanced export orders offset the pull in the other direction.
Why did the price of Hay change in Q3 2026 in Australia?
The Australia market sat in a narrow band as Balanced export orders and mixed moisture in hay producing regions cancelled each other out. Oaten and wheaten hay for export carries high compression and shipping costs. The average for the quarter was roughly USD 304/MT.
Hay Prices in Spain
Spain Hay prices averaged near USD 274/MT in Q3 2026, little changed at just above 0.4% from just under USD 273/MT in Q2 2026. It was balanced export orders that held the market in balance, with mixed moisture in hay producing regions limiting any move.
Why did the price of Hay change in Q3 2026 in Spain?
Mixed moisture in hay producing regions and balanced export orders pulled in opposite directions through the quarter, and neither was able to dominate. Irrigated alfalfa in the Ebro valley supplies Middle Eastern buyers, with prices reflecting quality and freight. The Spain average stayed at near USD 274/MT.
For the Quarter Ending June 2026
Hay Prices Q2 2026:
- United States: USD 228/MT
- Canada: USD 248/MT
- Australia: USD 303/MT
- Spain: USD 273/MT
Hay Prices in United States
The United States market for Hay closed Q2 2026 on an average of roughly USD 228/MT, a gain of about 0.9% on close to USD 226/MT in Q1 2026. What carried the move was tight availability of premium alfalfa, while higher diesel and freight costs kept buying interest alive.
Why did the price of Hay change in Q2 2026 in United States?
The quarter turned on Firm demand from equine buyers, with drought in hay producing regions arriving at almost the same moment. Large alfalfa and grass hay production sets the reference, and prices vary widely by quality grade. Together they carried the United States average to roughly USD 228/MT.
Hay Prices in Canada
Hay in Canada averaged near USD 248/MT through Q2 2026, rising just above 0.8% from just under USD 246/MT the quarter before. It appears that higher diesel and freight costs set the tone, and restocking by dairy farms helped the gains hold.
Why did the price of Hay change in Q2 2026 in Canada?
Buyers in Canada responded to Drought in hay producing regions, which might have been the reason that strong export orders found a ready audience. The average for the quarter came to near USD 248/MT.
Hay Prices in Australia
The Australia market held to an average of roughly USD 303/MT in Q2 2026, a move of just about 0.7% against close to USD 301/MT in Q1 2026. What kept the range tight was mixed moisture in hay producing regions, while balanced export orders offset the pull in the other direction.
Why did the price of Hay change in Q2 2026 in Australia?
The Australia market sat in a narrow band as Balanced export orders and mixed moisture in hay producing regions cancelled each other out. Oaten and wheaten hay for export carries high compression and shipping costs. The average for the quarter was roughly USD 303/MT.
Hay Prices in Spain
Spain Hay prices averaged near USD 273/MT in Q2 2026, little changed at just above 0.7% from just under USD 271/MT in Q1 2026. It was balanced export orders that held the market in balance, with mixed moisture in hay producing regions limiting any move.
Why did the price of Hay change in Q2 2026 in Spain?
Mixed moisture in hay producing regions and balanced export orders pulled in opposite directions through the quarter, and neither was able to dominate. Irrigated alfalfa in the Ebro valley supplies Middle Eastern buyers, with prices reflecting quality and freight. The Spain average stayed at near USD 273/MT.
Quarterly Hay Price Trends
By the numbers, the global Hay average opened the window at close to USD 253/MT in Q2 2025, moved to about USD 257/MT in Q3 and near USD 259/MT in Q4, then moved to just under USD 261/MT in Q1 2026, moved to just above USD 263/MT in Q2 and moved to roughly USD 264/MT in Q3 2026, a net gain of close to 4.3% over the window. Weather, dairy margins, and freight costs drove the overall price pattern.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q3 2026 | 264 | +0.4% | - Stable |
| Q2 2026 | 263 | +0.8% | - Stable |
| Q1 2026 | 261 | +0.8% | - Stable |
| Q4 2025 | 259 | +0.8% | - Stable |
| Q3 2025 | 257 | +1.6% | ↑ Rising |
| Q4 2026 | In Progress | - | - In Progress |
What was Hay Price in 2025?
Hay prices rose gently through 2025 as drought spread and quality alfalfa became harder to find. The global average rose from about USD 250/MT in Q1 2025 to near USD 259/MT by Q4, a full-year gain of just under 3.6%.
Hay Prices in United States in 2025
The United States prices rose from just above USD 215/MT in Q1 2025 to roughly USD 224/MT by Q4, a gain of close to 4.2%. It was drought in hay producing areas and selective buying of top quality alfalfa that shaped the year.
Hay Prices in Canada in 2025
Through 2025 the Canada average climbed from about USD 235/MT in Q1 to near USD 244/MT in Q4, a rise of just under 3.8%. What shaped the year was firm freight costs and steady export interest.
Hay Prices in Australia in 2025
Australia prices rose from just above USD 290/MT in Q1 2025 to roughly USD 299/MT by Q4, a gain of close to 3.1%. It was firm freight costs and steady export demand from Asia that shaped the year.
Hay Prices in Spain in 2025
Spain prices rose from just above USD 260/MT in Q1 2025 to roughly USD 269/MT by Q4, a gain of close to 3.5%. It was firm freight costs and steady export demand from the Middle East that shaped the year.
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Expert Market Research: Your Source for Real-Time Hay Price Intelligence
Expert Market Research tracks Hay prices continuously across every major producing and consuming region. The team traces causation through weather, dairy margins, and freight costs. Contact Expert Market Research today for Hay pricing data, bespoke market analysis, and strategic procurement advisory.
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Frequently Asked Questions About This Report
Dairy cattle feeding takes the largest share. Hay is also fed to beef cattle, horses, sheep, and small animals.
The Q3 2026 average was just above USD 229/MT in the United States, roughly USD 249/MT in Canada, close to USD 304/MT in Australia, and about USD 274/MT in Spain. Australia carried the highest cost, on compression and shipping costs.
The global average moved only slightly from near USD 263/MT in Q2 to just under USD 264/MT in Q3 2026, a move of just above 0.4%. Mixed weather and freight pressure, offset by cautious export buying, kept prices in a narrow band.
Drought in some regions supported prices, but high freight costs and uneven dairy margins limited export buying. The two forces roughly balanced.
The global average is expected between roughly USD 251 and USD 280/MT for Q4 2026. Crop moisture, dairy margins, and freight costs are expected to guide the range, with a stable bias.
Australia holds the premium on compression and shipping costs, Spain and Canada hold a middle level on export links, and the United States prices lowest on large production.
This page is revised once a month. Readers who need faster refreshes can ask the Expert Market Research team for live data.
Prices respond mainly to weather and drought, quality grade, dairy margins, diesel and freight costs, and export demand.
The United States, China, Canada, Australia, and Spain lead production and exports.
Buyers can use quarterly trends to time forage contracts, watch drought maps and freight as the lead signals, and specify quality grade clearly in orders.
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