In response to the production crisis caused by a winter feed shortage due to the rapid development of the animal husbandry industry, winter rye 001 was selected to study differences in stalk and senescence characteristics in yield formation in cold regions. Five density treatments were established in a randomized design as 225 × 104 plant·hm−2 (D1), 275 × 104 plant·hm−2 (D2), 325 × 104 plant·hm−2 (D3), 375 × 104 plant·hm−2 (D4), and 425 × 104 plant·hm−2 (D5). Stem characteristics, SOD activity, POD activity, MDA content, and differences in yield and feeding quality under different population densities were analyzed. The plant height, center of gravity, and stem basal internode length showed an increasing trend with an increase in planting density. The stem wall thickness, diameter, strength, and lodging resistance indices decreased. At 275 × 104 plants·hm−2, the rye crude protein content was the highest while neutral washing fiber and acid washing fiber were the lowest, and feed quality was the best. With an increase in density, spike number, grain number per spike, and thousand-grain weight first increased and then decreased. We concluded that the yield and feeding quality were best when the basic seedling was at 275 × 104 plants hm−2.