IRISH dairy farmers are on course for an 8.6% fall in their net profit margin this year, even when direct payments are included, predicted researcher Billy Fingleton, when IFA launched their Milk Price and Dairy Income Campaign at the Teagasc Conference Centre in Moorepark, Co Cork last Monday.

DECLINING output and rising costs could add up to a small fall in Irish farm incomes in 2004, according to Teagasc economist, Liam Connolly.

TEAGASC, production economists and enterprise specialists are predicting static farm incomes or perhaps a small increase for 2003.