Everything I have ever ready or heard about Baleage is pretty much like this..
"When should I bale? Baling at the proper moisture content is a key to success in producing baleage. Forage containing less
than 40% or much above 65% moisture should not be baled for silage in order to avoid excessive molding
or spoilage. Producing bales with too much moisture reduces forage quality, increases the chance of
undesirable butyric acid fermentation, and reduces the amount of dry matter stored per storage unit — each of which greatly increases
storage costs. Baling with inadequate moisture reduces fermentation and increases mold production, which greatly increase
storage losses. Considering all factors, the optimum moisture for baled silage is in the 50 - 60% range"