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By Dan Martens, University of Minnesota Extension
ST. PAUL, Minn. (9/8/2008)—As a buyer or seller of hay, what works for you? In the end, the buyer and seller are working towards a price that gives both a reasonable chance to make a living—a return for their share in labor, management, capital and risk.
You'll find a number of good references in the "Forage Quarterly Newsletter," on the University of Minnesota Extension forages website at www.extension.umn.edu/forages. Read the newsletter for details on the references in this article.
For the landowner, many articles suggest an investment return on the value of the land as one factor. This is valid. But keep in mind there are situations where the price someone can afford to pay for harvesting hay from the land will not cover a targeted return on the land value because of other factors affecting land values.
Here's a summary of other ideas:
Consider what's important to you in the market place. Know your needs and your numbers related to income, expenses and goals. Your voice should be part of "what the market says."
Note: If you do not have access to the websites given in this column, call Extension's Farm Information Line at (800)232-9077, or you may contact me at (320)968-5077 or (800) 964-4929.
Any use of this article must include the byline or following credit line:
Dan Martens is a crops educator with University of Minnesota Extension.
Media Contact: Catherine Dehdashti, U of M Extension (612) 625-0237, ced@umn.edu
NOTE: News releases were current as of the date of issue. If you have a question on older releases, use the news release search (upper left-hand column of the News main page) or the main Extension search (upper right of this page) to locate more recent information.
URL: http://
www.extension.umn.edu/extensionnews/2008/pricing-hay.html This page was updated Sept. 9, 2008
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