THE average family farm income (FFI) on dairy farms of nearly €151,000 in 2022 was over 16 times greater than the returns on cattle rearing enterprises, according to the Teagasc National Farm Survey 2022 released this week.

‘Sharply higher’ milk prices in 2022 accounted for the bonanza year in the dairy sector with the average FFI on dairy farms across the country coming in at €150,884 – up from €98,745 in 2021, an increase of 53%.

“There was little change in milk production, partly due to high fertiliser and feed costs and also due to a dry summer which impeded grass growth.

“Fuel prices were also up substantially. Collectively this resulted in an increase in production costs, up 32% on average relative to 2021,” the Teagasc survey noted.

On the other side of the income coin, the average income on ‘Cattle Rearing’ farms [at least 50% suckler cows] decreased by 13% in 2022 to €9,408 due to increased production costs and the impact of ‘general reductions across some key direct payments.

In the ‘Cattle Other’ category [less than 50% suckler cows] there was a marginal increase in income through 2022 as compared to 2021 – rising to €18,881 from €17,233 [+9%].

Sheep farmers also suffered a major income drop in 2022 – down to €16,454 from €20,794 in 2021 [a decrease of 21%).

For more, read this week’s Connacht Tribune.

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