Excessive Sphagnum Moss

I'm seeing an explosion in the spaghnum moss growing around the farm. I'm not sure if it's influenced by the constant moisture or the more acidic rain. But the day & night temperatures are conducive for mosses and molds right now, and I'm seeing plenty of both. Out mowing the grass in an area where I've seen small patches of spaghnum moss before, I was surprised to discover that this moss had grown to cover the entire area around the base of the grasses. It was section of pasture about 100' by 150'. 

There's actually enough moss to consider harvesting it. But I'm not sure what to use it for other than mulch or a compost ingredient. And I don't know how this moss will effect the pasture grasses. Should I leave it or take it up? For now I guess I'll leave it and see what Mother Nature does.