Farm survey shows 2026 market reality is ‘very different from 2025’ - IFA
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‘The income figures reported for 2025 do not reflect the pressures many farm families are currently experiencing’
CHAIR of the IFA Farm Business Committee said the Teagasc National Farm Survey results for 2025, published on Monday, must be viewed in the context of the favourable market conditions that existed during much of last year, and should not be taken as a reflection of the financial reality facing farmers in 2026.
Bill O’Keefe said that beef and dairy prices were strong for much of 2025, and this was the primary driver of the positive year reported in the Teagasc National Farm Survey.
He said that while the survey captures a period when many commodity prices were at exceptionally strong levels, the outlook has changed significantly in recent months.
"Farmers are now dealing with much lower commodity prices across several sectors, while production costs continue to rise. For dairy farmers, the May milk cheque payment, typically the biggest payment of the year, is back by 17%.
"Beef prices have also reduced by more than €1/kg, a 15% price drop. Grain markets continue to be under pressure with current harvest prices below the cost of production.
"The income figures reported for 2025 do not reflect the pressures many farm families are currently experiencing,” said Mr O’Keefe.
Increases in input costs, including fertiliser, feed, labour, insurance, machinery, regulation, and compliance costs, combined with lower commodity prices, have eroded farm margins in 2026, said the chairperson of the IFA Farm Business Committee.
“The strong performance of many agricultural sectors in 2025 must be taken as a snapshot in time, a time that has unfortunately passed. Today, farmers and food production are as vulnerable as ever.
"The need for supports from our national Government in the upcoming Budget 2027 and the EU through a well-funded Common Agricultural Policy (CAP) is as vital today as it was throughout the past 50 years,” concluded Mr O’Keefe when speaking in the aftermath of the Teagasc National Farm Survey results.