News — Yen

Washington Hay Production Decline: Drought, Strong Dollar, and Shifting Markets (2000–2024)

Washington Hay Production Decline: Drought, Strong Dollar, and Shifting Markets (2000–2024)

Washington hay production has fallen nearly 25% since the early 2000s, a decline driven by both drought and economics. This chart traces that shift, showing how repeated years of severe drought and a strong U.S. dollar since 2022 have squeezed growers from two sides—reducing yields at home and pricing out key export buyers abroad. As traditional export markets weaken, Washington’s hay industry is steadily pivoting toward higher-value domestic markets, where resilience, efficiency, and quality matter more than sheer tonnage.


Trading Hay - Exchange Rates

Trading Hay - Exchange Rates

Hay exports from the U.S. to Japan have been exceptionally weak. Japan represents 29% of U.S. hay exports. Comparing January through August of 2023 to the same period a year earlier, exports are down 38% or 351,000 metric tons.