Industry Analysis & Industry Trends
The overall industry is forecast to continue growing at a moderate rate over the next five years. Demand for hay will increase as cattle farmers switch to hay for cattle feed, and organic hay will continue to become increasingly popular as consumers opt for organic beef. Consumer preferences will also dictate growth in the sugar beet segment as soda and snack manufacturers opt for processed sugar over high-fructose corn syrup... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Hay and Crop Farming industry is characterized by a low level of ownership concentration compared with other sectors of the US economy. The industry is dominated by small and medium sized farms, with average farm revenue of $42,038 in 2013, which is well below a 0.1% share of industry sales.
In the hay segment, the industry lacks organized systems of production. In many cases, farmers grow hay and other crops and will enter and exit the industry in response to changing returns. These conditions have been responsible for the dispersed nature of hay production. In the long term, however, pressure to reduce costs and increase efficiency is slowly causing the industry to shift toward larger-scale centralized production... purchase to read more