The forecasts for 2014/15 are derived from information available in early January 2015 for prices, animal populations, marketings, crop areas, yields and input costs and are intended as a broad indication of how incomes for each farm type are expected to move compared with 2013/14.
Average Farm Business Income is expected to fall or remain broadly similar across all farm types. This is due to lower prices for key outputs such as milk, cereals, eggs and meat, offset to some extent by lower input costs, particularly for animal feed, fuel and fertiliser.
Average Farm Business Income is forecast to fall by around 20% to £51,500 on specialist pig farms. Data for finished pig prices indicate an average fall of 7% which is expected to be partially offset by higher throughput and carcase weights. Input costs are also expected to fall particularly feed which represents almost half the total costs on these farms. A change in livestock valuation is also responsible for some of the fall in income forecast for 2014/15 as the value of weaners and store pigs is estimated to be around 13% lower at closing, compared to opening, valuation.
Thursday January 29, 2015/ Government of United Kingdom/ United Kingdom.