While Mr Kelly said grass growth remained strong, he pointed out that poor ground conditions meant many farmers couldn't utilise this grass.
Meanwhile, ICMSA president John Comer has urged Teagasc and the Department of Agriculture to continue monitoring the situation carefully.
"This might have to be looked at very carefully and measures identified and taken that are necessary to assist farmers in difficulty," Mr Comer said.
"Obviously there's the situation in Donegal, but we're getting reports from other parts of the country where seasoned observers are on alert on the question of fodder," he added.
Temperatures are expected to rise this week and the weather to get generally drier. However, heavy showers are also forecast.
Meanwhile, the total cost of the Donegal floods to FBD will be "well over seven figures".
The insurance company told the Farming Independent that it had received 32 claims in relation to damage caused by the weather event.
They also said that they were treating the Donegal event as a storm and were covering damage caused by wind, water and lightening.
"We have had 32 claims to date covering farms, businesses and private homes. Approximately half of the claims are farms. The total cost to FBD will be well over seven figures," said the FBD representative.
"We are covering all losses covered by our policy. We viewed the Donegal event as a storm event and are therefore covering damage caused by wind, water and lightning. We have seen a lot of storm and property damage, water and wind. We are looking after damage to farmhouses, outbuildings, livestock and vehicles," they added.
Zurich said it only had limited claims in relation to farm insurance following the weather event in Donegal.
Henry O' Donnell of the Irish Natura and Hill Farmer's Association claimed that some insurance companies are not covering the cost of losses as they are labelling the event a flood and will not cover flood damage.
"They're calling it a flood not a storm and there's no cover for flooding even though Met Eireann called it a storm. It's incredible. There's no question that it was storm and flooding occurred as a result," he said.
Farmers who suffered a loss as a result of the flooding in Donegal can apply to the Department of Agriculture's Flood Damage relief fund.
Mr O'Donnell said that the application is "disappointing" as it doesn't cover loss to second cut silage and that there is uncertainty around the fact that it's a de minimis payment.
"It's a de minimis payment, so from my understanding if farmers have claimed a de minimis payment in the last two years, it'll be deducted from the €15,000 available in aid and lessen the money they'll receive. We need clarity on that point," he said.
Farmers in the west urged to plan ahead on fodder needs