January 2024 #
A great measure of the current demand for forage and turf seed is the steady line of trucks that come and go from our facilities daily. Seed arrives from growers every day here to be cleaned, blended, coated, and bagged before being loaded into containers and trucks to go to customers all around the world. Distributor inventories are low, and they’re starting to take positions in preparation for spring. It’s shaping up to be a solid year for both forage and turf seed.
Turf seed inventories remain high in Oregon and Europe, but lower yields and reduced acres in key production regions are eating into those positions. Supplies of most forage species are fairly balanced between available supply and expected demand for the upcoming season, with supplies of clover and alfalfa tight and of grasses in good supply.
Perennial Ryegrass #
Perennial ryegrass prices have remained steady despite a smaller 2023 crop — this is all thanks to carryover inventory in Oregon and Europe. Acres will be down again in 2024, though, which will continue to reduce those inventories. This trend is positive for the growers who will plant this spring for harvest in 2025 and should result in steady returns for them.
Tall Fescue #
We continue to see terrific demand for our top-quality tall fescue varieties — Daybreak and Fastlane — which delivered outstanding results in the National Turfgrass Evaluation Program (NTEP). Tall fescue prices have remained steady as the market is well supplied this season, but lower acres in Oregon will reduce inventories in 2024. Planting our top-performing tall fescue varieties is an excellent opportunity to capture good movement and consistent prices in the next few years.
Alfalfa #
Demand for certified alfalfa seed continues to be strong, creating a wider spread between certified and common seed prices. This trend is anticipated to continue in the years ahead as demand and prices for certified alfalfa are expected to remain strong. This provides an excellent opportunity for alfalfa seed growers to capture extra profit by contracting a certified alfalfa seed production.
Red Fescue #
Distributors are slowly starting to bring red fescue back into blends after moving away from it due to high prices and supply limitations in 2021. Red fescue prices are holding steady at similar values to other turf species.
Timothy Update #
Timothy demand is slow in North America but expected to pick up this spring in Eastern Canada and the Northeastern US. Timothy supplies are tight and acres are down so prices are expected to remain strong.
