Dairy farming is by some way the most profitable agricultural activity in the State with average incomes hitting a record €86,115 last year on foot of a strong upturn in dairy prices globally. The figures, contained in farming agency Teagasc’s latest farm income survey, reflect the disparity of incomes achieved by different farming systems here. Teagasc noted that dairy incomes were boosted by a strong recovery in the global dairy market prices last year, which were up 32 per cent on their 2016 level. If dairy farms are excluded, the average income “drops to approximately €20,000”, he said, while more than two thirds of farms saw “little change” in their income. He added: “Maybe the farmers are too elderly or they might be living on very small farms.”Teagasc expects the average farm income to decline in 2018.

Source: The Irish Times May 22, 2018 15:21 UTC