Average farm incomes jumped 49% to over €53,800 in 2025

Farm incomes across all systems saw a significant rise last year, according to the latest Teagasc National Farm Survey (NFS).

The average farm incomes increased by 49% to over €53,800 in 2025, when compared with 2024.

The growth was driven by continued improvement in farm output prices, with particularly strong gains for cattle-rearing, beef and dairy farmers.

Dairy farmers earned the most in 2025, with an average farm income of €153,300, which was 41% higher on the previous year.

The jump reflected stronger milk prices, increased milk output, and higher revenues from the sale of calves for beef.

However, Teagasc notes that while the average income on dairy farms "considerably exceeds that of the other farm systems, the intensive nature and larger scale of dairy farms mean that they require a higher level of labour input than on any of the other farm systems".

Meanwhile, off the back of higher demand and therefore higher prices for beef, average incomes on cattle-rearing farms - which typically focus on suckler beef production - rose by 74% to close to €24,100.

The report noted "this level of income is unprecedented for cattle-rearing farms".

However, beef finishing and store cattle enterprises recorded the strongest percentage income growth of any farm system in Ireland in 2025, with the average income rising by 81% to €32,800.

Sheep farm earnings (+7% to just over €29,300) also rose but the increase was "modest in comparison to the two cattle systems".

Tillage farm incomes - supported by significant improvement in cereal yields - also saw a boost last year, up by 33% to an average €54,900.

Income jumps highlight volatility

Teagasc said 2025 farm incomes continued to recover further following what the survey calls a "difficult" year in 2023.

The report notes that "looking across the last five years there has been considerable volatility in incomes across all farm systems".

"The five-year average (2021-25) incomes levels are considerably below the incomes achieved in 2025," it added.

The survey also said that over half of farms in 2025 were considered economically viable, which was "a sharp improvement on the previous year".

Though it adds: "While incomes improved in all farm systems, substantial differences remain between the incomes achieved in dairy farming relative to other farm systems."