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Higher feed, fuel and fertiliser prices have driven up costs on farms, according to the most recent figures published by the Central Statistics Office (CSO).
Feed costs have increased by 10% since this time last year. The price of straight feeding costs has risen the highest by 16.4%, followed by feeding stuffs for calves which have increased by 12.2%.
Pig feed prices also saw a significant increase of 10.4%, which had a serious knock-on effect on pigs farmers’ incomes this year.
Fuel
Energy costs rose by 14.5% on last year, with motor fuel costs rising the most at 18.2%.
However, the CSO fuel prices are just up to October and prices for tractor diesel have fallen sharply since the beginning of November.
Fertiliser
As referenced in the Teagasc Outlook report, fertiliser prices increased in 2018.
Prices increased by 9.1% overall, with NPK fertiliser increasing by 8.4%.
However, although prices have increased over the last two years Teagasc has stated that prices are expected to stabilise next year.
Output
Tough weather conditions this year have translated into a tough year financially for farmers.
Not only have input prices increased, but output prices have decreased.
Pig output prices dropped by 8.9%, while overall animal output decreased by 6.5%.
Cattle decreased by 2.4% compared to this time last year.
Milk output price also decreased by 10.5%.
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