Teagasc is predicting an increase in average farm income for most sectors in the coming year, after a forgettable 2018.
Dairy, beef, sheep and pig farmers will all experience an increase in margins in 2019, mainly as a result of lower production costs, and higher prices where pigs are concerned.
However, tillage farmers will see a drop in margins next year, on account of lower cereal prices – despite a forecasted increase in yields.
These predictions were only one side of the story at today’s conference – the other side being the comparatively disappointing 2018.
Teagasc’s predictions for 2019 will be welcome news for most sectors, especially dairy farmers, who saw a 22% drop in income, and a 50% rise in feed costs.
The data predicts that, while there will be “upward pressure on some input prices”, feed use for grassland systems should decrease.
However, fertiliser costs will be “up significantly” – by about 16%, according to the report.
Another important external factor for the 2019 outlook is Brexit, and the implementation of a transition agreement between the UK and the EU that protects Irish exports, something Teagasc describes as “critical”.
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