A GOOD trade for livestock, a recovery in milk prices, a reduction in input costs and better weather has helped to lift the mood of farmers in recent weeks, according to Galway IFA’s Environment Representative, Henry Walsh.

Last week the CSO (Central Statistics Office) produced their agricultural price indices for the 12-months up to March, 2024, which indicated some positive trends for the farming sector.

The biggest drop in inputs as compared to the previous year was in fertilisers – down 40% – while electricity charges fell by 22% and feeding stuffs by 21%.

However, Henry Walsh, told the Farming Tribune that while the cuts in inputs were to be welcomed they were coming down from a very high level following the rocketing of prices after the start of the war in Ukraine.

“For example, before the start of the war in Ukraine, a tonne of urea could be purchased for €330 and now even with the 40% reduction last year, to buy this today at €475 a tonne, is still €145 more than we were paying for it three years ago,” said Henry Walsh.

He said that the same comparison could be made as regards electricity charges, which although showing a welcome downward trend in the CSO index, were still considerably dearer than in 2021 [18c a unit day-rate] as compared to 30c a unit this year.

One of the big price winners in the 12-months up to March of this year were sheep farmers where prices increased by 30% as compared to the previous year although cereals took a huge hit of 31% – largely weather related.

Pictured: Galway IFA’s Environment Representative, Henry Walsh.