Question comes up as to why the cows won't eat it.  Pouring molasses on a moldy bale of hay still leaves you with moldy hay.

If it's not moldy but mostly stems etc I would roll it out or wait until winter and alternate with a bale of good hay.

If it is moldy and that's why cows won't eat it I would go the put-it-in-a-ditch approach. That will at least slow erosion and maybe build some organic matter. The ditch or sinkhole is where bad hay goes around here.