Last year, average farm business income was lower for all farm types except specialist pig farms and specialist poultry farms, figures from Defra show.
Cereal farms fared the worst, with a drop in income of 73%. For general cropping farms, the average income was 24% lower.
Olly Harrison, who farms cereal near Liverpool, said next year's numbers were likely to be even worse as the bad weather continued in 2024.
Payments under the new post-Brexit nature-friendly farming schemes gave farmers a small boost: net income from agri-environmental activities increased by 14%.
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