Outlook 2024 – Economic Prospects for Agriculture

The Teagasc Agricultural Economics and Farm Surveys Department review of 2023 and a look forward to the 2024 prospects for agriculture covering Dairy, Cattle, Sheep, Tillage, Pigs, Forestry and Sustainability

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Margins for 2023 – relative to 2022

Dairy – down substantially, due to lower milk prices
Beef – up on cattle rearing, stable on cattle finishing
Sheep – up, due to input cost savings
Tillage – down substantially, due to lower harvest prices and yields
Pigs – up substantially, due to higher output prices

Outlook for 2024 – relative to 2023

Dairy – improved margins, due to higher milk prices
Beef – up for cattle rearing and finishing, input cost savings
Sheep – up slightly, due to input cost savings
Tillage – up substantially, due to higher harvest prices and yields
Pigs – down appreciably, due to lower pig prices

Presentations (pdfs)

• Opening remarks – Macro Outlook – Trevor Donnellan
• Agri inputs and cereals – Fiona Thorne
• Pigs – Michael McKeon
• Forestry – Tom Houlihan
• Cattle – Jason Loughrey 
• Sheep – Anne Kinsella
• Dairy – Emma Dillon
• Environmental Sustainability – Cathal Buckley
• Farm Income – Trevor Donnellan