Where things get all twisted up is when hay is in short supply and prices skyrocket, is when you won’t get many bales per acre.
Then when hay is everywhere and growing lush and thick no one wants any, price is very low but you have many bales.
So you as the land owner will remember the high prices, and the cattle guy will be remembering the low prices, and both of you will start feeling things are wrong When there is lots of bales or very few bales..... be aware of the nature of hay prices changing rapidly.
Renting the land to him by the acre avoids this. It gives you a solid income you can count on year after year, instead of the peaks and valleys. It gives him the freedom to properly manage the crop and improve it.
Otherwise, good hay well fertilized by you can be share cropped as mentioned, 1/3 to 1/2 to you. Then you sell your portion to him at going prices.
Again if this is some abandoned land and you don’t know the soil ph or when it was last seeded or fertilized, then giving it to him for free or up to 1/4 of the bales would be appropriate.
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