In 2024, the output value on cattle-rearing farms increased due to higher cattle prices, the latest National Farm Survey (NFS) from economists at Teagasc has revealed.

The results of the survey were released today (June 23), with approximately 15,675 cattle rearing farms represented in the survey.

According to the NFS, the average family farm income (FFI) on cattle rearing farms was €13,547, up 93% year-on-year. The survey found that suckler cow production is the dominant enterprise on these farms.

The table below outlines the different components in FFI on cattle rearing farms in 2024:

Teagasc believes that lower production costs contributed to the improved economic performance on these farms.

Participation in the Suckler Carbon Efficiency Programme (SCEP), the National Beef Welfare Scheme (NBWS), and Agri-Climate Rural Environment Scheme (ACRES) also helped to underpin the improvement in incomes.

The table below outlines the average indicators on cattle rearing farms in 2024:

On individual cost items, expenditure on fertiliser declined by 30% to €2,352 on average. The data indicates that there has been some increase in usage on a per hectare basis.

The NFS found that spending on bulky feed declined, while expenditure on concentrates at €4,131 remained relatively stable compared to 2023.

Contracting expenditure increased by 9% to €4,466 on average, livestock and veterinary costs remained generally stable at €2,368, while other costs increased by 7% to €1,827.

According to the survey, overhead costs on the average cattle-rearing farm fell in 2024 to €18,937.

The table below outlines the distribution in cattle-rearing FFI between 2022 and 2024.

Teagasc noted that on 48% of cattle-rearing farms, the holder also worked off-farm in 2024.

Elsewhere, there were approximately 35,823 'cattle other' farms represented in the survey in 2024, with an average income of €18,101. This represents a 32% increase on the 2023 level.

Cattle finishing is the dominant enterprise on these farms.

Teagasc found that the average output value per cattle other farm was relatively unchanged in 2024 at €61,387, due to a reduction in production value.

The table below outlines the different components in FFI on 'cattle other' farms in 2024:

The NFS found that the proportion of farms reporting an FFI below €5,000 decreased to 20%, down 21 percentage points compared to 2023.

The proportion of 'cattle other' farms with an FFI of between €5,000 and €10,000 increased by 11 percentage points to 25%.

Meanwhile, farms reporting an FFI of between €10,000 and €20,000 increased from 19% to 25% year-on-year, and the proportion reporting income in the €20,000 to €50,000 category increased to 23% in 2024.

There was a four percentage point increase in the proportion of 'cattle other' farms earning more than €50,000, at 8%, on average in 2024.

As in other farm systems in 2024, total costs declined on cattle other farms compared to 2023, with a reduction in both direct and overhead costs.

On average, production costs declined by 8%, and overhead costs declined by 14%.

Spending on fertiliser declined by 24% to €3,208 on average, while nitrogen usage was down compared to 2023.

Contracting related costs increased by 14% year-on-year to €4,825, on average. Expenditure relating to livestock and veterinary averaged €2,384, down slightly on the 2023 level.

The table below outlines the concentrate feed use per livestock unit on 'cattle other' farms in 2024:

The average utilised agricultural area on 'cattle other' farms in 2024 was 32ha.

Livestock numbers were also down, by 5%, while the gross margin per hectare increased by 6% in 2024 to €1,193.

In terms of the overall population of 'cattle other' farms, approximately 3%of farms fall into the greater than 100ha size category, with 12% in the 50-100ha bracket, and a further 19% in the 30-50ha category.

According to Teagasc, about 21% of 'cattle other' farms were in the 20-30ha category, with the remaining 44% comprising farms of less than 20ha.

Teagasc noted that 56% of 'cattle other' farm holders also worked off farm in 2024.