I'd plant a fine stem annual grass, and bale it 'right' which means a lot of attention to detail on timing for cutting, raking, and baling. Then you get a lot of dollars per bale.
Oats with peas is a wonderful cattle feed, but horse people turn their nose up at 'junk' like that and it won't sell.
As well it is -terribly- difficult to get oats or peas to dry down for good dry hay in June in most parts of the country.
Annual ryegrass (hay, not the grain) ot teff or some such?
You are going to get 10 different answers, you need to pick the one that fits your situation. ;) I belive you want an 'easy' button here, no bother getting it growing but you want to sell to a horse market.
That often results in a poor weedy crop that has little value to anyone.....
I would try to plant a crop that makes great horse hay, if only a few bales, and sell high. It is easy to make a big tonnage, but moldy or course hay crop that gives you many bales, but hard to give away poor quality.
Income comes from a good, high value crop on 5 acres.
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