After a turbulent year of input prices and output returns, dairy farmers have emerged as the big winners in Irish agriculture.
A new economic analysis from research and advisory body Teagasc estimates average dairy farmer income at €148,000 for 2022.
It comes as a result of milk prices rising by 44% this year due to a lack of growth in global milk supplies, and despite a 30% rise in production costs.
Tillage farmers also had a very good year with average incomes up 10% to €64,000 even after all increased production costs are taken into account.
The impact of the war in Russia on supplies of grain and global market uncertainty boosted cereal prices.
The report from Teagasc also assesses the outlook for Irish agriculture in 2023, forecasting that dairy income will fall back to €104,000 next year, with tillage incomes dropping 48% to €33,000.
Incomes for cattle farms, sheep farms and pig farms all fell this year.
Income on cattle rearing farms is estimated to be down 20%, as production costs outpaced higher cattle prices, while cattle finishing farmers saw income fall 2% to €16,900.
Sheep farmer income fell 4% to €19,800, and massive losses were incurred on pig farms. They amounted to an average of €422,000 per farm this year, as poor pig meat prices fell far short of increased production prices.
The report says 2023 will be another year of high agriculture productions costs.
All the figures are contained in the report 'Outlook 2023, Economic Prospects for Agriculture', published by Teagasc this week.
