Pro's & con's of not taking first cut Fescue

Due to unforeseen circumstances I may not be able to spread much if any fertilizer this spring.

 

I have a lot of hay in the barn from last year, both first & second cuttings, enough to feed all summer & then some.

 

We are expecting more of the same drought as last summer so I am considering not cutting my Fescue, let the seed dry out then early fall bush hog the seed tops off and then take a cut leaving a high stubble.. 

 

I'd like to know the good & bad with this idea. 

 

Thanks

Chris

Pro's & con's of not taking first cut Fescue