There was a huge gulf in average farm incomes in 2022, with dairy farm incomes averaging €150,884, while suckler farm incomes came in at €9,408 on average.
The Teagasc National Farm Survey reveals that tillage farmer incomes were boosted to €76,654, while sheep farmer incomes fell to €16,454 and cattle finishing farmers made an average of €18,811.
The massive variation in incomes was partly driven by booming milk prices and strong grain prices, set against the backdrop of rocketing input costs for all sectors.
“Russia’s illegal invasion of Ukraine particularly affected Europe’s energy market and also had an impact on the global supply of key grains and oilseeds. As a result, higher agricultural input prices, in particular for fertiliser, fuel, electricity and concentrates caused a sharp increase in farm production costs in all farm systems,” Teagasc said.
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