Covid-19 makes farm income forecasting more risky than ever

Teagasc economists looked at three scenarios of Covid-19 effects on farming. The implications for farm income were all negative, ranging from about 22% to 54% declines compared to 2019, and from about 26% to 56% declines compared to pre-Covid forecasts for 2020 farm incomes.

Pig farmers face the biggest income disappointment this year. Covid-19 may prevent their incomes reaching forecasted record levels.

A suggested decline of 26% in farm incomes is dramatic.