Bryan,
Darin is right, it's kindof a complicated question. Depends on the type of grass you are growing, the bale type, the equipment you use, and whole lot of other things.
The other part of the problem is that the ideal weather for cutting and baling is a very regional thing. I just took a look at your weather forecast and it doesn't look great, a chance of showers essentially all the way through the week (20-40%, depending on the day). Drying conditions are also just ranging from fair to poor through the week as well, mostly due to the expected cloudcover and relatively high humidity. This is a great site (recently pointed out to me from somebody on this forum, I can't remember who) for getting an Ag-oriented forecast:
http://wwwagwx.ca.uky.edu/cgi-bin/ukawc.pl
Problem is, that could be as good as it gets for you (in Ohio) but not me (in Texas). I know looking at that weather forecast, I would hold off, but I'm comparing your weather forecast to my typical conditions (which are much drier, obviously). I'm calibrated to the following for my area:
20% or lower - Looks good, probably will cut if grass is ready.
30% - Getting worried, paying attention to if the number is up from 20 or down from 40 (ie, the trend), may hold off.
40% or great - Too risky, very likely hold off.
Here is my basic methodology (and remember, I'm relatively new to this as well, so take my advice with a grain of salt): Since I grow Coastal Bermuda, I wait until 28 days after the last cut (or April 1st, if it's the first cutting of the year). Then I look at the weather and see if I have an opening. The "size" of the opening that I need varies a lot (I've learned). If it's early in the year, we've been getting steady rains (grass and ground have relatively high moisture content) and the drying weather is going to be muggy or cloudy, I might need 4-5 days of curing time. If it's later in the year, the grass and ground are drier, and the weather is going to be hot and dry, the stuff cures in 1-2 days. I do my best to cut as closely to the 28th day as I can, as I've seen the protein content in my hay samples decline rapidly the farther I get away from the 28 day ideal. To ballpark it for you, I start out at about 13% protein content at 28 days and lose one percentage of protein every 7 days, the longer I wait. That could be very different from you though, depending on what type of grass or legume you grow.
So basically, as you wait for your opening, the urgency level begins to grow (because your grass is losing quality). Eventually those 20-30% chances of rain that kept you from cutting before don't look so bad, and you just say "what the heck" and go for it. I mean, you eventually have to cut the stuff. I'm 4 for 5 on getting my cuttings up without getting rained on, which the locals who have done this for 30 years tell me is about par-for-the-course.
Chet.