Financial impact of 2018 weather on Farming - Teagasc National Farm Survey.

 

 

According to Teagasc, data released  from their Teagasc National Farm Survey 2018  indicates the extent of the financial impact of adverse weather in 2018 on Irish farm incomes  Across the board in 2018, farmers struggled to cope with the difficulties presented by severe weather and challenging conditions on farms.

 

Across the farm sector as a whole, the average family farm income in 2018 declined by 21 per cent, dropping from €29,774 in 2017 to €23,483. However, the average on individual farm systems continues to vary greatly.

 

According to the report :-

 

Average feed expenditure was up 34% in 2018 which resulted from fodder stock shortage, fertiliser, machinery contracting and fuel.

 

Good late season grass growth and extended silage season mitigated costs somewhat.

 

Average family farm income on Cattle Rearing farms dipped by 22%  to an estimated €8,318 in 2018.

 

Average Cattle Other farm income ( farms with a wider range of incomes) in 2018 was €14,408 a drop of 11%

 

Average dairy farms took the worst percentage hit with  income falling by 31 per cent to €61,273.

 

Average Sheep farm income fell by 21% on previous year to  €13,769 in 2018.

 

Despite the weather issues - average income in tillage farms in 2018  was €42,678, an increase of 18 per cent on the 2017 figure,  

 

Across the farm sector as a whole, the average family farm income in 2018 declined by 21 per cent, dropping to €23,483.

 

Read the full preliminary report here