On average, bale prices have jumped by 19.96% year-on-year as animal feed shortages intensify, following adverse weather conditions - that’s according to new research conducted by Donedeal.ie.
The online classifieds website, established in 2004 reviewed over 5,000 adverts for bales placed on the site in June and July for both 2017 and 2018.
The study found that that silage prices have increased by 31% from €20.24/bale 12 months ago, to €29.22/bale now. Hay has also experienced an 18% price hike to €27.23 in the same period.
The most dramatic price rises were identified in Leinster, where prices for both silage and hay have increased by 26% compared to the same period in 2017.
Straw has surged from €16.35/bale in June and July 2017 to a current price of €24.02 - this represents an increase of 32% in 12 months.
“A crisis for farmers”
Speaking following the publication of the findings, Adam Ferguson of Donedeal outlined:
“This is a crisis for farmers. The snow in spring followed by the extreme drought has made the production of Hay; Straw and Silage extremely difficult and we’re seeing this now in these surging prices.”
Adam highlighted that Spanish companies are advertising Alfalfa and English straw on DoneDeal.
“Encouraging trade in Ireland with the stock that we currently have in the country will help alleviate the problem and we’ve decided to support this by making it free for farmers to advertise feed and bedding on DoneDeal for the month of August,” Adam concluded.