Dairy and tillage farms set to see largest income rises next year
The forecast average dairy farm income in 2024 of €86,000 would represent a 46pc increase on the estimated income level for 2023. Photograph by Eamon Ward
The average farm income in 2024, is forecast to increase by 30pc to €32,200, but the increase will be largely driven by improved incomes in the dairy and tillage sectors.
According to figures from the Teagasc Outlook, a large drop in fertiliser prices is forecast in 2024, while smaller reductions in energy prices and feed prices are also anticipated, which should help see average farm incomes improve next year.
