Examining Farm Incomes

Economist Emma Dillon joins Emma-Louise Coffey on this week’s Dairy Edge podcast to discuss farm incomes from 2021.

Emma explained that farms experienced an increase input prices to the tune of 11% for dairy systems primarily from fertiliser, feed and fuel in 2021. This was coupled with a significant rise in milk price and output.  Consequently dairy farm income rose by 23% compared with 2020 to €97,350.

Dairy farms remain viable with 85% of Irish dairy farms defined as either viable or sustainable given their ability to be profitable annually, remunerate labour and provide return on investment.

Emma concludes by speculating on dairy farm income for 2022 with the healthy farm gate prices set to continue which provides a buffer between input costs and milk price received.  

For more information:

https://www.teagasc.ie/publications/2022/Teagasc-National-Farm-Survey-2021-Preliminary-Results.php

For more episodes from the Dairy Edge podcast go to the show page at: 

https://www.teagasc.ie/animals/dairy/the-dairy-edge-podcast/

The Dairy Edge is a co-production with LastCastMedia.com