Incomes on sheep farms fell by 22% to an average of €12,625 in 2023, the National Farm Survey shows.
Following a sharp increase in 2022, average production costs remained relatively stable on sheep farms in 2023. Some 43% of sheep farmers earned less than €5,000 last year compared to 2022.
Fifteen per cent of farmers in the sector earned between €5,000 and €10,000 last year.
Direct costs were up marginally by 3% to €22,835, while overhead costs went down 1% to €22,601.
The cost of land improvement maintenance increased by 26% last year for sheep farmers to €1,355.
In 2023, the gross margin was down 8% to €797/ha while direct payments were worth €266/ha, a rise of 7% year on year.
The average flock size increased by 4% to 135 head.
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Incomes on sheep farms fell by 22% to an average of €12,625 in 2023, the National Farm Survey shows.
Following a sharp increase in 2022, average production costs remained relatively stable on sheep farms in 2023. Some 43% of sheep farmers earned less than €5,000 last year compared to 2022.
Fifteen per cent of farmers in the sector earned between €5,000 and €10,000 last year.
Direct costs were up marginally by 3% to €22,835, while overhead costs went down 1% to €22,601.
The cost of land improvement maintenance increased by 26% last year for sheep farmers to €1,355.
In 2023, the gross margin was down 8% to €797/ha while direct payments were worth €266/ha, a rise of 7% year on year.
The average flock size increased by 4% to 135 head.
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