Using a two-price market value method to value extra pasture DM in different seasons

•The value of extra pasture DM for livestock production can be estimated using several different methods.•The two-price market value method can be an efficient way to estimate the value of extra seasonal dry matter yield of pasture grown and used.•To demonstrate its application, the method is used to value the seasonal yield of 19 perennial ryegrass cultivars grown in temperate Australia.•The value of extra pasture estimated using the two-price market value method can be easily generalised across a range of farming systems.