The Irish Farmers' Association (IFA) will hold regional meetings in the coming weeks to discuss farm finance and budgeting in the context of significant cashflow pressures on farms.

IFA president Francie Gorman has said farmers in all sectors have experienced difficult trading conditions in the past 12 months, with higher input prices and reduced output squeezing margins.

“The combined effect of higher costs and challenging weather for the last 12 months has had a massively negative impact on cashflow for farmers. Additional feed has had to be used throughout the year to compensate for poor grass growth and difficult grazing conditions,” he said.

The first meeting will take place on Thursday 29 August in Cork Marts, Corrin, Fermoy, Co Cork.

The other meeting will take place as follows:

  • Monday 2 September in the Newpark Hotel, Co Kilkenny.
  • Monday 9 September at Bloomfield House Hotel, Mullingar, Co Westmeath.
  • Wednesday 11 September in the McWilliam Park Hotel, Claremorris, Co Mayo.

    • IFA farm business chair Bill O’Keeffe said Teagasc and financial institutions have been invited to discuss how farmers should prepare their business for the months ahead.

    “We will have a Teagasc specialist on managing winter fodder. The focus will be on the importance of early feed budgeting for winter 2024/2025 and knowing your farm demand and managing in advance of any potential deficit.”

    AIB, Bank of Ireland, PTSB and credit unions will each give a brief presentation on what’s available for farmers with cashflow difficulties, in particular those farmers who want to transfer merchant, co-op and contractor debt into structured bank credit.

    A panel discussion, with Q&A, will be facilitated by O’Keeffe.