Dairy income highest in last ten years
Average dairy income was estimated at £162,100, its highest value over the last ten years.
Average milk price increased in 2021-22, contributing to much higher dairy incomes despite a decrease in average yield. Output from milk and milk products increased by £73,500, or 13%. Output from cattle also increased by £27,800, or 37%.
Figure 2: Average Farm Business Income for dairy farms, 2012‑13 to 2021‑22
Dairy performance has varied a lot in the last ten years. Dairy farms are sensitive to market prices and experience fluctuating performance.
Dairy farms have a high average income compared to other farm types. However, while some dairy farms make large incomes, others will make a loss. They also have the largest average business size. The average standard labour requirement (SLR) for a dairy farm is 8, compared to an average of 3 across all farm types.
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