It's cut and dried (3)

I believe the answer is:

hay

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'it's cut' is the definition.
(thesaurus)

I don't understand how the remainder of the clue works.

(Other definitions for hay that I've seen before include "Welsh festival" , "Forage" , "Dried mown grass" , "Dried grass as fodder" , "Make . . . while the sun shines" .)

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