Farming parents urged to plan for future
IFAC, the farming, food and agribusiness professional services firm, is urging farming parents in Wicklow to take steps now to save for their children’s third level education costs.
The estimated cost per year is around €10k per student, including mandatory student contribution of €3,000, an estimated €4,000 for rent (€5,000 or more in Dublin), and the balance for food, bills, travel, books/ materials, mobile phone, and social life.
The recent Farm Report 2019 from ifac showed some worrying trends about financial wellbeing across the sector. For example, one in five farmers aged 40-65 do not have a pension plan and less than half (43 per cent) have mortgage and life cover. This means the majority are neglecting financial planning, which includes planning for future costs such as third level education fees.
Tom Doyle at ifac’s office in Wicklow is urging parents with children in school to start planning for the year’s ahead.
‘If at all possible, doing so will help to relieve this headache for parents when their children take that step towards their independence. Setting up a small savings fund can really help to offset these costs when they arise,’ he said.
SHEEP SALES - OCTOBER 1: 3458 Sheep on offer. Fat lambs met with a slightly tougher trade. Store lambs and ewe lambs met with a very lively trade.
Heavy Lambs €95 to €98 or €45 to €50 over €/kg; Factory Lambs €86 to €95 or €40 to €46 over €/ kg; Store Lambs over 35Kgs €70 to €84 or €35 to €45 over €/kg; Store Lambs under 35Kgs €56 to €75 or €28 to €40 over €/kg; Suffolk Cross Ewe Lambs €90 to €130 or €54 to €80 over €/kg; Cheviot Ewe Lambs €80 to €140 or €48 to €96 over €/kg.
Fat Ewes €96 to €120 per head; Feeding Ewes €60 to €94 per head; Suffolk Cross Hogget Ewes €155 to €202 per head; Suffolk Cross 3 & 4yr old Ewes €120 to €140 per head; Cheviot Hogget Ewes €160 to €210 per head; Cheviot 3 & 4 year old €130 to €187 per head.
Cattle Sales - October 3: 342 Cattle & 41 Calves on offer. Very good trade for the nice quality store bullock. Plainer cattle a little harder sold.
Store Bullocks over 500kg €500 to €645 over €/kg; Store Bullocks over 400kg €425 to €580 over €/kg; Store Bullocks over 300kg €325 to €500 over €/kg; Store Heifers over 400kg €380 to €525 over €/kg; Store Heifers over 300Kg €275 to €460 over €/kg; Beef and Butcher Heifers
CATTLE SALES - OCTOBER 4: Smaller sale today in Tullow however the trade for the store cattle remains steady on the last number of weeks with the beef cattle not so plenty but again the correct in spec cattle meeting an honest trade.
Beef and forward FR bks selling from €450 with the kg up to a tops of €900 with the kg today for the heavier continental type cattle and a very lively trade for the in spec types.
The FR type store bks selling from €1.50 to €1.70 per kg HE and AA from €1.70 to €1.90 per kg while the continental bks more forward stores selling from €2 to €2.20 per kg with the lighter continental type bks selling from €2.10 up to €2.40 per kg.
Beef and forward type hfrs selling from €500 to €880 with the kg today while the store hfrs HE and AA from €1.70 to €1.90 per kg with the continental hfrs forward type stores €1.95 to €2.15 per kg or the lighter type stores from €2.05 up to €2.30 per kg.
Cull FR cows fresh out of the parlour selling from €100 with the kg while the continental cows sold from €200 up to €600 with the kg and a notable trade for the heavy type cow.