It's below optimum size. There are different sizes of square balers. You want to stay away from the big ones. Older models you would want to stay away from would be JD 24T. You would want the 14 T. On New Holland, you would to with a 68 vs a 78. Back in the day, JD and NH made the best square balers. Probably still do.
You'll want to rake small windrows and run in a low gear. You don't have enough power to run the baler at full capacity, but it should still work. I used to do clean up once in a while with a Farmall H with 23 HP, a first gear that was too fast, and no live PTO. It worked, but you needed to be thinking ahead.