Almost two-thirds (63%) or 812 of the 1,289 beef farmers surveyed intend on reducing stock numbers in the coming year due to higher costs.

Beef production was the most common type of farming in Ireland in 2020 according to the CSO, with 74,159 farms engaged in this activity.

The Irish Farmers Journal survey findings indicate that as many as 46,720 of these farms could move to reduce stock numbers in 2022 due to farm input cost inflation.

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Another factor likely to affect beef supply and price is that 61% of the beef farmers surveyed plan on selling their cattle earlier than they would traditionally

While for many farmers this may involve offloading less productive animals such as late-calving and older cows, the findings indicate that there will be a higher level of throughput through marts and processors over the coming months.

Another factor likely to affect beef supply and price is that 61% of the beef farmers surveyed plan on selling their cattle earlier than they would traditionally as a means of aiding cashflow and paying farm bills.

This finding suggests that beef farmers may look to sell store cattle earlier rather than investing in feed and fertiliser at high prices to grow grass and finish these animals themselves.

Sheep

The survey suggests the same practice will be seen on sheep farms in 2022, with 46% or 203 of the 442 farmers surveyed planning to cut flock numbers to reduce feed demand or generate cashflow.

The survey indicates that 8,020 of these farmers may seek to reduce their flock size this year

There were 17,435 specialist sheep farms in Ireland in 2020, according to the CSO.

The survey indicates that 8,020 of these farmers may seek to reduce their flock size this year.

Farmers’ plans to reduce livestock numbers come off the back of rising farm input costs including fertiliser, which the CSO reports was 127% more expensive in January 2022 than it was during the same month last year.

Increases in feed, energy, fuel and labour costs are also affecting farmers’ bottom lines, forcing them to consider alternative options.