Farmers urged to engage with banks if needed as 'fallout of weather will be long-term'

"Banks for their part need to provide decisions quickly and apply competitive interest rates that will help farmers farm their way out of their difficulties."

The ICMSA committee chairman pat O'Brien said that the wintering of animals and paying for the increased fodder used and replenishing stocks will be "crucial".

Farmers are being urged to engage early with banks if needed as one organisation warns that the "fallout of the extremely wet and lengthy winter will be long-term".

Speaking following meetings with two of the main banks - AIB and Bank of Ireland - Irish Creamery Milk Suppliers Association farm business chairman Pat O'Brien has advised farmers who are worried about their farm finances to seek help and advice.