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The Morrill Fire burned about 79,000 acres of Blue Creek Ranch near Oshkosh in March, destroying nearly all its grazing ground. The ranch bought hay, weaned calves early and reduced its bison herd, and expects to feed hay through winter as drought continues and hay prices rise.
Loss of rangeland forces a ranch to buy hay, adding to demand for forage at a time when hay prices are already climbing. The effect is local, but it shows how drought and fire can tighten hay supply for feed buyers.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.