According to estimates from Wageningen University, the median income for the entire agricultural sector is approximately 109,000 euros per labor unit. This is 10,000 euros, or 8%, less than last year but still 20,000 euros more than the five-year average.
As in 2023, there are large differences between individual business sectors. In particular, pig farmers' incomes are likely to shrink by 195,000 euros, or nearly 50%, to 210,000 euros. The average turnover dropped by 17% due to increased production in Europe, mainly because of price reasons.
Specifically, the income of sow keepers fell by 315,000 euros to 230,000 euros per unpaid labor unit. This was caused by lower piglet prices following a historic peak last year. In addition, the experts calculated an income decline of 274,000 euros (
The average income of laying poultry farmers will likely also be lower in 2024. According to the researchers, there is a reduction compared to last year of 45,000 euros to 230,000 euros. The decisive factor was a 5% drop in egg prices, which however remained at a very high level. The global supply of eggs is scarce because avian influenza is rampant in many countries, which was given as the reason.
Moreover, according to the scientists' calculations, the average income of dairy farmers is expected to rise by 9,000 euros this year, to an estimated 78,000 euros. This would exceed the average for the years 2019 through 2023 by 11,000 euros.
The increase is mainly due to higher milk prices due to supply and better returns for calves and slaughter cattle. This more than compensated for higher costs related to buildings, machinery, tools, manure disposal, loans, and animal health.
In 2024, the incomes of arable farmers also developed in different directions across business sectors. According to Wageningen economists’ calculations, farmers will likely earn an average of 90,000 euros. This would mean a loss of 23,000 euros compared to last year’s result.
The main reason stated is lower producer prices for crops. On the other hand, the income of greenhouse vegetable growers is expected to rise by 15,000 euros to about 320,000 euros in 2024. According to the researchers, the improvement mainly stems from lower energy costs compared to previous years.