Demand for silage lettings has nosedived over the last few weeks, as improved grass growth, strong silage crops and increased harvesting costs this year have combined to hit the market.

“There is more of a supply than demand for the last fortnight,” said Mitchelstown auctioneer Eamonn O’Brien.

“We were getting up to €150/ac plus the cost of fertiliser which came to around €300/ac up to the third week in May.”

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However, prices had fallen back €10/ac each week since 25 May, when grass started heading out, he explained.

Strong grass growth over the last few weeks and the hike in silage harvesting costs had further undermined the market, O’Brien claimed. Tom Crosse of GVM Property in Limerick said the market for meadowing and silage had contracted significantly over the last five years, as a result of the move to long-term leasing.

Crosse maintained that good quality meadows and after-grass were still making up to €200/ac. Similar views were expressed by Roscommon auctioneer John Earley.

A price of €4,000 was paid for 30ac earlier in the year but the Roscommon auctioneer said prices had dropped back to €100/ac over the last few weeks.

“It’s all a question of supply and demand,” Earley said.

Kilkenny auctioneer Joe Coogan said silage lettings had not been a major feature of the land rental market in Kilkenny this year.