Output value for livestock farming on the up in 2017
The output value for livestock farming in 2017 in the Republic of Ireland enjoyed significant gains, according to data published by the Central Statistics Office (CSO).
The information was published this morning as part of the CSO’s second estimate of operating surplus in agriculture in 2017, which showed an annual increase of 35.2% overall.
Operating surplus is calculated by subtracting compensation of employees from so-called ‘factor’ income accruing from farm output.
Data shows that the main drivers of the change were milk and livestock outputs, which increased by 45.2% and 4.4% respectively.
This increase was driven by improved prices (+1.8%) and a higher volume of production (+1.3%), according to the CSO.
Meanwhile, the output value of pigs was up 11% – €51.6 million – to €519.6 million in 2017, which was reportedly mainly due to improve prices.
Pig output volume in 2017 was up 3.2% during that period, the CSO added.
Taking a look at the sheep sector, the information shows an increase in the sheep output value of 2.9% – or €7.4 million – to €262.6 million. Sheep output volume also rose by 3.6%.
The figures highlight that Teagasc previously estimated that family farm income per farm (FFI) increased by 37% in 2017.