October 2024
The 2024 forage and turf seed harvest is almost in the bin in most production regions. Harvest results were average or better in Oregon, Minnesota, and Western Canada, thanks to excellent growing conditions for grasses.
Our results in Western Canada were very strong, with many perennial ryegrass and tall fescue growers achieving yields well over 1,000 lb per acre, top-performing dryland fields getting up to 1,600 lb per acre, and irrigated production yielding up to 2,000 lb per acre. It’s been great seeing the potential of these crops after suffering from drought the past few seasons.
The downside of this strong harvest is turfgrass inventories continue to be ample, and that inventory is weighing on prices. Sellers holding a significant amount of crop from 2023 have become more aggressive as the 2024 harvest rolls in. This has forced many seed companies to sell carryover crop from 2023 at a loss to keep inventory moving.
Distributor inventories of turfgrasses are low, and the fall overseeding market has been a steady consumer at these price levels, so inventory is constantly moving into the market.
Forage seed values have been mixed. Clover and forage grass values have softened, but alfalfa values remain steady.
Perennial Ryegrass
Strong yields are weighing on the perennial ryegrass market. Perennial ryegrass prices have dropped approximately 20% from the past season. Despite this decline, prices are still above the long-term averages, and with solid yields, perennial ryegrass continues to have strong returns per acre compared to other commodities for Western Canadian growers.
Tall Fescue
After the 2024 harvest, tall fescue inventories are higher than those of other turf species, which has put more pressure on prices. Tall fescue prices have fallen approximately 30% from the past season. Fortunately, demand has started to pick up, and seed movement into key tall fescue markets in the eastern US has been brisk. With solid yields, tall fescue continues to provide good returns per acre compared to other Western Canadian crops.
Alfalfa Update
Demand for certified alfalfa seed continues to be strong. Prices for older varieties and common seed are trading below certified seed, providing an advantage for those with certified production of newer varieties.
Red Fescue
Red Fescue yields were down this season in the Peace River region as dry conditions last fall and early this spring hampered production. Supplies of Red Fescue are not burdensome, however, lower prices of other species are weighing on red fescue prices and demand as end users substitute cheaper species.
Timothy Update
Timothy demand has been steady. The 2024 harvest was below average due to dry conditions last fall. Prices have softened some from last year but remain above long-term averages.
