The net margin on tillage farms is estimated to have increased in 2025 according to the Teagasc review and outlook report.

However, this comes with a warning, as in 2024, the net margin on tillage farms ranged from -€316/ha to +€764/ha.

The net margin on the average cereal enterprise in 2025 was estimated at €270/ha, which was up €35/ha on 2024.

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The average net margin on the best-performing one-third of tillage farms was estimated at €410/ha.

Spring barley gross margin was reported to be down €135/ha on 2024, while winter wheat margin was up €170/ha on 2024.

Yields

Winter crop yields and outputs looked to have helped incomes, with good weather conditions at sowing, grain fill and harvest helping yields.

For example, winter wheat yield was estimated up 19%, while spring barley performed poorly for many.

The report noted: “Harvest prices in the cereals sector in 2025, compared to 2024, were lower, with some prices slightly lower than others.

"Furthermore, yields for the major Irish cereal crops were mixed, with some crops tending to yield lower whilst other crops tended to yield higher than those achieved at harvest 2024.

"Taken together, these developments resulted in mixed gross output values on a per-hectare basis in 2025 relative to 2024. In addition, direct costs of production in 2025 remained at relatively high levels.”

Grain prices

Grain prices fell. Teagasc estimates barley and wheat prices fell by about 10% and does not expect an increase in the near future.

The report stated: “Significant increases in EU and international production levels resulted in significant downward movement in farm gate cereal prices paid at harvest 2025, compared to 2024.”

Teagasc reported that fertiliser prices went up 3% and fertiliser use was up slightly on 2024. Seed prices did not change. Other direct costs went up 1%, while green diesel prices went down 3%.

It should be noted that these figures come from the Teagasc national farm survey and are based on the cereal enterprise of specialist tillage farms. The margins above do not include basic payments, but include coupled payments like SIM and Protein.