When we got our horses, I thought I had plenty of pasture for them to eat all the grass that they could ever want. They where rescues and half starved. For a full week, they never stopped eating!!!! My pasture was quickly eaten down to a manicured lawn and I had to start buying hay. We started with square bales and soon learned how expensive that way, and time consuming.
My small 35hp tractor doesn't have a loader, so it's worthless for feeding horses. It's also too small to lift round bales. My 80 hp backhoe has plenty of power, so that worked out well for getting round bales out to them. When it isn't running, I've used my 35 hp tractor with a 3 pt hay spear, which works if I have some bales sitting around, but it's borderline on having enough power, and I can't put the bale on the rack where I like it to be. Usually when the backhoe isn't working, I just roll the bale out of the bed of my truck and leave it there. The horse end up walking over most of it and there is a lot of waste doing it that way.
I need another tractor with a loader just for backup feeding. 50 hp is borderline big enough, so I'll buy something in the 60 hp range or bigger. Ideally, I want to pull a 15 foot batwing, so that means I need to be in the 80 hp range or bigger, but that's a big jump in money, so I'm probably leaning towards a very used 60 hp tractor with a loader and then later down the line, buy my dream tractor with a cab that can pull a batwing mower.
the backhoe also has a 1 yard bucket that i use for cleaning up the mess around the hay cradle. I do this a couple times a year. I also move the hay cradle to a couple different spots because the horses turn the area around it into a muddy mess that needs time to dry out. 1 yard at a time takes a lot of time. The slowest part of this is opening and closing the gate. I've thought about one of those Mule type gate openers just to deal with the 20 plus loads that it takes to clean up their feeding areas, and not having to get off the tractor to open the gate, then back off of it to close the gate every time I leave with a load, and every time I come back for another load.