The average farm income in 2026 is forecast to fall by 19%, to just over €40,000, largely driven by a decline in dairy income.
That's according to a report published by economists in Teagasc.
The report found that economic growth at the global level is expected to be lower than in 2025.
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Taking the year as a whole, Irish milk prices in 2026 could be down by more than 20% on their average level for 2025.
Average incomes are forecast to rise on cattle farms in 2026, with an increase of 18% to €26,000.
In general, farm incomes on cattle farms in 2026 are forecast to be well above historical averages.
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The IFA's Ulster/North Leinster chair, Co. Cavan farmer Maurice Brady, told Northern Sound that farm income should always be the focus.
