THE average farmer in the South West earned almost £30,000 in 2007-08, according to new figures.
A report from the Rural Business School said farm incomes were 85 per cent higher than in the previous year but also showed that borrowings had soared to cover essential reinvestment.
The figures form part of the Nature of South West Farming report commissioned by Defra.
The report said dairy and arable farms fared the best, buoyed by better milk and cereal prices. Grazing livestock farms showed only a slight improvement, to around £7,000, and were the most dependant on the single farm payment.
The better incomes sparked a sharp rise in reinvestment, with the average farmer investing more than £15,000 in machinery and capital improvements in 2007-08, net of depreciation and property sales.
That was £6,000 more than in 2006- 07.
After three years in decline, cattle numbers had recovered, said the report, but sheep, pig and poultry numbers continued to fall. Despite this, the South West boasted 32 per cent of England’s cattle, and 21 per cent of its sheep.