We obtain the equations of motion for a ferromagnetic Bose condensate of arbitrary spin in the long-wavelength limit. We find that the magnetization of the condensate is described by a nontrivial modification of the Landau-Lifshitz equation, in which the magnetization is advected by the superfluid velocity. This hydrodynamic description, valid when the condensate wave function varies on scales much longer than either the density or spin healing lengths, is physically more transparent than the corresponding time-dependent Gross-Pitaevskii equation. We discuss the conservation laws of the theory and its application to the analysis of the stability of magnetic helices and Larmor precession. Precessional instabilities, in particular, provide a novel physical signature of dipolar forces.