Farm incomes on positive trajectory in 2025 - Teagasc

A NEW report from Teagasc economists says average farm income across all systems in 2025 is now forecast to reach €48,500, a 39% increase on the 2024 figure. 

This growth is being driven by income gains in dairy and drystock enterprises. All income figures include direct support payments.

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“As of mid-2025, the global economic growth outlook has weakened relative to 2024, with a number of ongoing geopolitical considerations presenting downside risk, with trade tensions and exchange rate movements creating uncertainty. 

“Nevertheless, the outlook for farm incomes this year on most farms is now quite positive,” said a spokesperson.

Weather conditions during the first half of 2025 have been excellent for grass growth.

 Milk prices are on track to average about 7% higher than in 2024. Combining high milk prices with favourable weather, should result in a 5% increase in Irish milk production.

Combining high milk prices with favourable weather, should result in a 5% increase in Irish milk production, which will result in higher margins for dairy producers.

 Prices for finished cattle have risen sharply this year, with an increase of over 35% now in prospect relative to 2024. 

In addition, weanling prices have risen by approximately 45%.

Lamb prices are likely to be 8% higher in 2025 relative to last year.