Ireland: Prices for cattle to rise as milk will fall in 2023

Published 2022년 12월 13일

Tridge summary

Teagasc's Economic Outlook for Irish Agriculture report predicts a 15% drop in milk prices but a 4% increase in cattle prices in 2023. High production costs and global uncertainty could negatively affect food demand. Milk prices are expected to cover production cost increases, maintaining high margins. Dairy farm incomes are forecast to decrease, averaging €104,000. Cattle producers will benefit from additional support under the new Common Agricultural Policy (CAP), leading to an 11% increase in average incomes on cattle farms. Lamb prices are expected to rise by 2%, while tillage income is predicted to decline by 48% due to cost pressures. Pig prices are forecasted to improve by 22% in 2023.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Milk prices are forecast to fall by 15% next year but cattle prices are forecast to increase, with average finished cattle prices expected to be 4% higher in 2023, according to Teagasc. The new Economic Outlook for Irish Agriculture report, published today (Tuesday, December 13) by Teagasc, highlights that high production costs are likely to remain on the horizon for Irish farmers throughout next year. Teagasc has also warned that against the backdrop of the war in the Ukraine “global uncertainty” will continue to dominate the agri-landscape, potentially negatively impacting on food demand. In its latest outlook report Teagasc details that fuel costs may fall slightly next year. However, feed prices are likely to increase and there remains concerns over fertiliser prices with “very little change expected for the annual average fertiliser price for the fertiliser year, which starts in October and ends in September”. Milk prices It is anticipated that milk prices will slip in 2022 ...

Source: AgriLand