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Feed prices rose for a second consecutive month in March, as farmers rushed to merchants and co-ops in the wake of fodder shortages, the CSO reported this Friday. Prices were 3.4% higher than a year ago.
Poultry feeds, straights and calf concentrates saw the highest price increases in March. Adult cattle feed prices were stable that month, but stood 1.4% higher than last year – after going up 1% in February alone.
Feed prices rose at a time when farmers were purchasing increased volumes to stretch dwindling fodder supplies, multiplying the cost impact.
The price of crop protection sprays jumped by 2.3% in March. Fertiliser and energy costs showed little movement.
Output prices
Meanwhile, the rise in farmgate prices for livestock did not make up for falling milk prices and the overall agricultural output price index was down 1.4% that month. Again, this was compounded by lower milk volumes as weather conditions hit supply.
As a result, the terms of trade reflecting farmers' potential margins fell by 1.7% in March. This is particularly striking for pig farmers, who have seen feed prices rise by 9.8% and pig prices fall by 16.5% over the past year.
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