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at €358/hectare, with farms categorised as winter and spring cereals returning an income of €646/hectare. The winter and spring cereal category of farm tends to give the highest returns (of the predominately cereal farms), reflecting a more diverse rotation on their farms. These rotations allow increased scope for higher yields following a break crop and are more resilient during unusual weather years. The 2018 report tracked the incomes of a matched sample of 187 farms in 2016, 2017 and 2018. These farms showed a marked improvement in net margin from €132/hectare in 2016 to €572/hectare in 2018. These farms were categorised by net margin into three income brackets; top, middle and bottom groups. In 2018, the top third of growers achieved an income of €950/hectare compared to the bottom third, who recorded a net margin loss of €107/hectare.


The figures point to several reasons for the differences. Size does not appear to be a major driver, with a similar average area of close to 71 hectares farmed by both groups. However, the bottom performing group incurred over 90% more fixed costs (depreciation, interest, light, heat, etc.) compared to the top group. Significantly, the bottom-performing group had a much higher proportion of land rented, at 63% of the entire area, compared to 26% of the area by the top-performing group.


IFA REACTION TO UK ELECTION OUTCOME Commenting on the outcome of the British general election, Irish Farmers’ Association (IFA) president Joe Healy believes that a stable government in the UK would probably be better in the long run. “The first development following the result is that sterling strengthened. This further enhances the argument for a beef price increase,” he said.


“It now looks very likely that the UK will leave the EU on January 31, based on the withdrawal deal negotiated by Boris Johnson,” continued Healy. “However, the most difficult negotiation is probably still to come, as the UK and the EU try to agree on a Free Trade Agreement (FTA). “The most pressing risk here is that the transition period will be due to end on December 31, 2020. It will be almost impossible to agree on an FTA by then. This means that an extension to the transition period is likely to be required. If this extension can’t be agreed, we could face a potential cliff edge on December 31, 2020.


“As the new EU Trade Commissioner, Phil Hogan will be a key player in the FTA negotiations.”


UNION PRESIDENT LOOKS FORWARD TO 2020 Courtesy of his New Year message, Ulster Farmers’ Union (UFU) president Ivor Ferguson has taken stock of the opportunities and


challenges that will confront agriculture in Northern Ireland during 2020.


“It is hard to believe that well over three years on from the EU referendum in 2016, I am beginning another New Year message on the theme of Brexit,” said Ferguson. “The process has certainly taken a lot longer than my predecessors thought when they wrote their New Year messages in 2017 and 2018, and in my case this time last year. “However, with the election out of the way and a government in place at Westminster with a massive majority, we hopefully will finally see progress on the key issues that affect agriculture. “No matter how anyone voted way back in 2016, we need to make sure Brexit is a success for agriculture. That will not be achieved by simply leaving the EU. Success will be measured for agriculture by what is agreed in two key areas. These are the support structures put in place as an alternative to the CAP and the trade relationships we have with the EU-27 and the rest of the world.” He continued:


“On the support side, we want to see structures that will make the industry competitive, profitable and technically efficient. Farmers have always delivered environmental gains and will continue to do so, but we want structures that continue to recognise the importance of food production and food security. That will be what we and other farm lobby organisations across the UK will be seeking.


Ferguson believes that with Brexit done, the UK needs a trade deal with the EU.


“We cannot afford further brinkmanship,” he added. “The prize is too big for politicians to set the pace, and we need a deal that maintains unfettered access to our two biggest markets — the rest of the UK and the EU-27. I genuinely believe that in both Brussels and London, there is now the necessary goodwill and commitment to get a trade deal in place.


“I cannot leave the subject of politics without once again expressing the hope that our local politicians will find the compromise needed to get an executive back in place at Stormont.


“The coming year will be critical for all sectors of the economy here, particularly agriculture and food, as post-Brexit economic plans become reality. London will base this around devolution, and we will be at a disadvantage to the other UK regions if we do not have the local political input the process demands. We are, rightly, impatient for progress, and hopefully, we will see it sooner rather than later. Realistically, later may be too late for many businesses relying on politicians to make sure the right decisions are taken for the new world we will be in when we leave the European Union after 47 years.”


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    FEED COMPOUNDER OMPOUNDER JANUARY F//FEBRUARY 2020 PAGE 2020 PAGE 25


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