Thia Hennessy, Head of the Teagasc Agricultural Economics and Farm Surveys Department said: "The outlook for 2011 is for continued buoyancy for most commodities, however rising fertilizer, fuel and animal feed prices are likely to negate some of this increase, leaving some farm systems no better off in 2011. Only dairy farmers are forecast to have sufficient increases in output prices to offset the increase in input prices."
Pig producers are suffering from their current exposure to high feed costs. At the moment costs of production are outstripping the prices being paid for pigmeat on the market and this is likely to continue to be the case well into 2011. An increase in pigmeat prices in the order of 10 to 15 per cent is expected by mid 2011.