As I have not yet taken a Ranching For Profit school the farmer in me would be inclined to put a lot of that feed in round form. You never know what next year will deliver.
If the soil has been managed properly, next year will deliver even more grass than this year. It is truly amazing what good soil can do in all conditions.....even drought.
Thanks for the photos, RSL. It's always interesting to see how other ranchers operate. Your country is green and pretty, and your cattle look quite content.