Milk Cost of Production Report 2024-25

Welcome to the Milk Cost of Production Report 2024-25. We have been busy collating, analysing and evaluating our rural client data to provide you with a comprehensive and insightful breakdown on the state of the dairy industry. The survey is a comparison of farms with a March year-end who derive their income mainly, or solely, from milk sales. As well as a review of the previous financial year, we also use the data to look ahead at projections for the current trading year. Dairy farmers welcomed a rise in milk prices and continued fall of feed costs throughout the 2024-25 period, with the improving general trend leading many to turn their heads to future-proofing their businesses ahead of impending changes to Inheritance Tax.

The purpose of this survey is to help you benchmark your own farming enterprise and, by planning ahead, make the most out of the opportunities available.

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