A 43% jump in cattle prices is the "main factor" behind a €828 million growth in livestock values this year, according to the Central Statistics Office (CSO).

Latest CSO analysis also highlights that there was a €121 million drop in the value of crops this year, with the value of barley estimated to have plummeted by €30 million.

According to the CSO, livestock values are expected to hit €5.6 billion in 2025 boosted by an increase in cattle values - which grew by €833 million to €3.9 billion.

There was also strong growth in poultry production, which is expected to increase by €19 million to €256 million this year.

The CSO Output, Input and Income in Agriculture - Advance Estimate 2025 report published today (Wednesday, December 3) also highlights that milk prices are estimated to grow by an average of 4% this year.

Milk production volumes are also estimated to be up by 6% and the value of milk is expected to increase by €419 million to €4.5 billion.

CSO

According to Mairead Griffin, statistician in the CSO Agricultural Accounts and Production Section, the early estimate of the value of agricultural outputs, inputs, and income for 2025 shows an "increase in agricultural income".

However, she said the "provisional" values will change with the availability of end-of-year stock volumes, and when additional information becomes available.

Griffin said that this year's results are "dominated by cattle" but they also reflect the increase in milk prices - up by 4%.

The latest CSO report also details that there will be higher sheep prices in 2025, which are expected to increase by 9% for the year overall.

However Griffin has also highlighted that these are "not enough to offset a steep drop in volumes (-15%), bringing their value to €361 million".

Value of barley drops by €30m

Meanwhile the value of crops is projected by the CSO to contract by €121 million or 4% to €2.7 billion.

The latest report shows there is no significant change in the value of cereals, although the CSO notes that the value of barley is estimated to have dropped by €30 million in 2025.

It detailed that this reduction is "offset" by the higher value of wheat, which is up €29 million and the value of oats which is also up by €1 million.

Costs

Griffin said that the latest CSO projected costs for the year - which she has stressed is based on "limited information available" - would suggest that "intermediate consumptions costs will rise by 4% -€273 million - to €8.0 billion". 

She added: "The cost of fertilisers is expected to increase by 34% - €203 million - due primarily to higher volumes (+28%), while the cost of feeding stuffs is projected to grow by 4% - €94 million - despite lower prices (-2%).

"The expected net impact on operating surplus of both higher output values, costs and subsidy payments, is an increase of 19% - €826 million - bringing the value of operating surplus to €5.1 billion in 2025.”