Suckler farmers saw their 2023 farm incomes fall to their lowest levels in recent years as higher cattle prices and bigger direct payments did not prove sufficient in keeping pace with higher input costs brought about by challenging weather.

The average suckler farmer’s income dropped to €7,400 last year, representing a decrease of 15% on the previous year.

While cattle sales and scheme payments were a respective 6% and 10% higher than they were in 2022, production costs rose by 11% as feed was bought into these farms to combat the weather.

Half of all suckler farmers received less than €5,000 of an income from their farm, with only one in eight making more than €20,000.

The average suckler farmer was aged 61 in 2023, keeping 24 cows across 34ha. Over two in every three suckler farming households see someone working an off-farm job and 44% have someone in the household drawing a pension.

Beef finishers saw an average of one-fifth sliced off their incomes, taking them to €14,700 in 2023.

Teagasc found that the value of cattle sales fell on beef farms as a result of lighter carcases and poor prices over the spring and autumn.

The average beef farmer kept 74 cattle over the year across 37ha, of which 34ha was owned.

Some 38% of beef farmers received an income smaller than €5,000 for the year and fewer than one in three made more than €30,000.