If shelled corn containing 13% moisture is priced locally at $5.50 per bushel and grass hay containing 10% moisture is priced at $90 per ton, their value per pound of dry matter is computed as follows:
Corn: 56 lbs. x 0.87 = 48.72 lbs. dry matter. $5.50 divided by 48.72 equals 0.1129 or 11.29 cents per pound of dry matter
Hay: 2,000 lbs. x 0.90 = 1,800 lbs. of dry matter. $90 divided by 1,800 equals 0.0500 or 5 cents per pound of dry matter
If silage contains 35% dry matter, there are 700 pounds of dry matter per ton, or the equivalent of 350 pounds of shelled corn and 350 pounds of grass hay. Mature, high-yielding grain corn should contain 50% grain by dry-matter weight.
350 lbs. of corn equivalent @ $0.1129 = $39.52
350 lbs. of hay equivalent @ $0.05 = $17.50
1,300 lbs. of water @ $0.00 - $0.00
Total value: $57.02 per ton (2,000 lbs.) of silage containing 35% dry matter
The above example is typical of good-quality mature corn made into silage. However, immature (early frost) or drought-impacted corn salvaged for silage contains much less grain relative to stalk and leaf material. Corn in the hard dough stage may be only 25% grain by dry-matter weight. In that case, the value would be computed as follows:
175 lbs. of corn equivalent @ $0.1129 = $19.76
525 lbs. of hay equivalent @ $0.05 = $26.25
1,300 lbs. of water @ $0.00 - $0.00
Total value: $46.01 per ton (2,000 lbs.) of immature, drought-stressed corn silage containing 35% dry matter
Very immature corn with no grain content would be valued based on hay equivalent value only.
0 lbs. of corn equivalent @ $0.1129 = $0.00
700 lbs. of hay equivalent @ $0.05 = $35.00
1,300 lbs. of water @ $0.00 - $0.00
Total value: $35.00 per ton (2,000 lbs.) of corn silage with 0% grain content containing 35% dry matter
