Milk price cuts could halve dairy farm incomes in 2023
A sharp reduction in milk prices and very high production costs could see dairy farm incomes halved in 2023, compared to the very high levels last year. The family farm income (FFI) for Irish dairy farmers increased by 53% to an average of €150,884 last year, which was driven by a significant rise in milk…
Actions to improve milk protein percentage in May and June
John McCabe, Teagasc/Aurivo Joint Programme Advisor, looks at the factors affecting and the steps to take to improve milk protein percentage in May and June. Figure 1 below from the Central Statistics Office (CSO) indicates a few different things to us. Firstly, milk protein percentage flat lines for the summer months (red circle). Secondly, milk…
Teagasc forecasts milk prices to fall by 15% in 2023
A resumption in global milk production will dampen demand growth and drive down milk prices by 15% in 2023, Teasgasc has forecast. In its latest Economic Outlook for Irish Agriculture report, published today (Tuesday, December 13), Teagasc highlighted the prospects for the dairy sector in 2023. Teagasc outlined in the report that 2022 had been a challenging year…