How do I feed haylage with low dry matter and a high protein value?

Hello! Your best answer comes from working out a proper feed ration for each horse, for example with an online ration calculator or an equine nutritionist. In general, though, this sounds like an ideal haylage for your two. For the easy keeper, dilute it with straw and you will still get a reasonable protein intake. For the hard keeper, simply feed it as it is. Any surplus protein is broken down into energy.