Key points

• Average farm incomes rose in 2024-25, after experiencing some sharp declines in 2023-24. The increases are largely driven by higher livestock prices.
• Average farm income is around £58,800 in 2024-25. This is an increase of 30% (£13,400) from the previous year’s income of £45,400, which was the lowest income since 2019-20, after adjusting for inflation.
• The average farm made a profit of £500 from agricultural activity in 2024-25. Agricultural profit (agricultural output minus costs) is rarely seen for the average farm. This last happened in 2022-23 when average farm income reached a record high.
• Input costs remained broadly stable in 2024-25, decreasing by 1% to £273,200. Fertiliser costs decreased across all farm types. This was often offset by increases in labour costs and land and property costs.
• Cereal farm income fell for the second year to £28,600, due to decreases in barley and wheat production and subdued cereal prices. General cropping incomes fell 1% to £165,300 but were supported by high potato outputs, driven by high prices. Average incomes for arable farm types are sensitive to market prices.
• Dairy farm income increased by 85% to £218,500. This is the second highest average income since 2012-13, the earliest year for which comparable data exist. Dairy income is volatile and closely linked to milk prices, which rose in 2024-25. 
• Average income rose across all livestock farm types. Less Favoured Area (LFA) cattle farms were the highest earners on average, at £40,800. This is an increase of 88% from the previous year, driven by higher cattle output. Average income across all LFA livestock farms increased by 82% to £28,600.
• Dairy and general cropping remain the most profitable farm types. However, they also have the widest spread of farm incomes. The proportion of unprofitable general cropping farms more than doubled from 11% reported in 2023-24 to 25% in 2024-25. Meanwhile, the proportion of LFA cattle farms making over £100,000 trebled from 5% to 15% in 2024-25.
• The proportion of farms profitable without support payments increased by 12 percentage points to 41%. For LFA sheep farms, this proportion rose to 7% from 2023-24, when no farms in the survey made a profit without support.

Our infographic provides an overview of farm incomes in 2024-25.

All data tables are available to download under supporting documents.

This release provides survey results of farm business income (FBI), covering the 2024 harvest.  In simple terms, income is the output generated by the farm business minus total farm costs. Analysis is based on a survey of around 400 commercial farms (whose standard output exceeds around £20,000). The sample excludes farm types not in receipt of support payments (such as pigs, poultry and horticulture). The survey sample is weighted using results from the 2024 June Agricultural Census and is representative of 94% of the standard output from farm types included in the survey.