Hiya Jim,
You are in exactly the same situation that I am. We currently have 10 acres in alfafa hay that we cut and bale for our horses. What we decided to do was to hire out the cutting raking and baling operation. We get between 120-150 bales per acre, three times per year. Our average bale cost comes out to around $0.70 per bale, putting our haying cost at a maximum of about $3150.00 annually. This sounds like a lot, but for us it is favorable compared to the cash investment we would have had to make for a larger tractor, mower (sickle, discbine, haybine, conditioner/mower?), rake, tedder (?), baler, wagons, elevator, maintenance, fuel and whatever else I forgot.
This is more of our story, and not an answer to your question. /forums/images/graemlins/blush.gif /forums/images/graemlins/blush.gif
My questions to you are:
What are you planning to do with the hay? Personal use? For sale? If you are using the hay for sale, then it will take a long time to amortize the equipment purchase. If you are using the hay for personal use, the it will take even longer to amortize the purchase.
Dave