The average farm income for suckler farm enterprises in Ireland recovered by 93% last year to €13,547, according to the Teagasc national farm survey (NFS).

This average income was the lowest of any sector, followed next by beef finishers at €18,101, which was a 32% rise on the 2023 average finisher income.

Beef farms have an average farm size of 32ha, with suckler farmers having an average herd size of 34 livestock units and other cattle farmers having 43 livestock units. Teagasc noted a 5% herd size reduction in both sectors year-on-year.

Suckler

The average gross output on suckler farms jumped by 9% to €48,006 compared to 2023. Teagasc said this was due in part to improved prices for younger cattle. Average direct payments received by suckler farms increased by 13% in 2024, to €17,927.

Total production costs for the average suckler farm in 2024 were down 7% compared to the previous year, to €34,459. Of this, €16,063 was direct costs and €18,397 was overheads.

Although more than one-third of all suckler farms reported had an average income below €5,000 in 2024, this was an improvement on 2023, when half of all farms fell into this income category.

Beef

The average output value on cattle finishing farms has remained relatively stable, dropping 1% in 2024 to €61,387, due to a reduction in production volume. The increase in family farm income was driven by firmer prices for finished animals and lower production costs.

The level of direct payments on ‘cattle other’ farms was up 2% to €15,687 on average.

As with many other farm systems, total costs declined compared to 2023, with a reduction in both direct (€22,855) and overhead costs (€20,431).

The proportion of farms reporting a family farm income below €5,000 fell to 20%, down from 41% in 2023.