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Survey results released by Teagasc show that family farm income increased by 6% in 2014, however this varies considerably by farm size and system. Photo: iStock

A preliminary estimate of the Teagasc National Farm Survey results show that family farm income increased by 6% in 2014, bringing the average income figure for the farming sector to €26,974.

Dr Thia Hennessy, Head of the Teagasc National Farm Survey said that the value of farm output decreased in 2014, but farmers benefited from very good weather conditions, as well as a recovery from the fodder crisis in the previous year and the total costs of production were down by 6%. She also noted that it was a particularly good year for dairy farmers with average income reaching the unprecedented high of €68,887.

Brian Moran of Teagasc’s National Farm Survey said it was a mixed year for cattle farmers. “Cattle rearing farms, those involved in the production of young animals, saw their incomes increase by 8 percent, largely on the back of falling production costs. However, cattle fattening units suffered from lower animal slaughter prices in 2014.”

The €26,974 figure is the average income but it varies considerably by farm size and system with the average income on dairy farms almost €69,000 in 2014 compared to an average of just over €10,000 on cattle rearing farms. Less than 20 percent of farms earned an income of €50,000 or more, while 40% earned less than €10,000. Almost 30% of farmers have off farm employment.

The sector remains highly reliant on direct payments. The average direct payment per farm was €18,859, comprising 70 percent of farm income in general and over 100 percent on cattle and sheep farms.

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