According to new CSO figures, the value of cattle is expected to increase by 20 percent to 3,108 million euros compared to the previous year.
The volume of cattle production is expected to increase by 2 percent and prices by 18 percent.
Almost all farm animals are expected to increase in value in 2022, with the value of pig production expected to increase by 10 percent to €612 million and the value of sheep production expected to increase by 12 percent to €405 million.
Poultry is the only sector where values are expected to fall by 2 percent in 2022 to 185 million euros.
Meanwhile, milk is expected to generate 39 percent of the value of agricultural production at basic prices for 2022, according to the CSO.
With low or unchanged milk volumes but significant price increases, the milk value is expected to rise by 46% (+€1,567 million) to €4,962 million this year.
Despite expectations that the volume of most 2022 crops will fall, crop values are expected to rise 14 percent and prices to rise 15 percent.
Grain production will experience the largest price increase of any product, which is expected to increase by almost half (49 percent).
The value of fodder crops is also expected to increase by €58 million this year, while the value of agricultural production at basic prices is expected to increase by more than a quarter to €12,685 million.
For input costs, fertilizer saw the biggest increase (+141%) while the amount used on Irish farms fell 19%. The cost of fertilizers rose this year by 97 percent to 1,191 million euros.
It is expected that the amount of feed used by Irish farmers will increase by 2 per cent while its cost will increase by 31 per cent.
Expenditure on energy and lubricants is expected to increase by 42% to €649 million, mainly due to price increases.
Commenting on the release, Mairead Griffin, Statistician at the CSO said: “This release provides an early estimate of the value of agricultural production, inputs and income for 2022. Although compiled with relatively limited information on quantities and prices, it nonetheless provides an Leading indicator for the performance of the agricultural sector in 2022.”
https://www.independent.ie/business/farming/news/value-of-cattle-to-rise-by-20pc-on-last-year-cso-figures-show-42205578.html The value of cattle will increase 20 percent year-on-year, CSO figures show