Shining a light on real farming Ireland

Report Author David McWilliams with DoneDeal CEO John Warburton Tomorrow’s Ireland Report At The National Ploughing Championships we launched our first ‘Tomorrow’s Ireland’ report, which shines a particular light on the world of Irish farming through the lens of DoneDeal’s farming data. The report’s author, economist and broadcaster, David McWilliams, was on hand to officially launch the report and reveal some interesting insights into the buying and selling patterns of the farming community’s everyday online activity; the emergence of a new generation Irish farmer; and using real-time DoneDeal data, maps out and predicts where tomorrow’s farming economy is heading. The Tomorrow’s Ireland Farming Report builds a profile of the new emerging next generation Irish farmer; married and in his mid-thirties, that is very active online, constantly checking prices for everything from second-hand Massey Fergusons to cheap holidays and is as likely to be selling jet skis or vintage cars as buying horses.  Using shared accounts with their wives, they are also busy online, involved in all sorts of commerce, trading baby buggies, bouncing castles through to jewelry and women’s clothes. With a third (33 per cent) of all cattle ads on DoneDeal now placed with a mobile device, the smartphone is fast becoming the new Mart – the iMart. Looking at strong and reliable correlations between DoneDeal farming data and farm output prices (real farming activity), McWilliams has built a series of i-Mart Cyber Data Indexes for Irish farming.  The new DoneDeal i-Mart Cyber Data Index is designed to help present more timely and effective forecasting when it comes to a range of farming indicators, including agricultural GDP, beef exports, fertiliser prices and domestic milk intake. According to McWilliams: “Every 10 per cent increase in farming activity on DoneDeal this month coincides with a 10 per cent increase in agricultural output in two months’ time and the correlation is almost perfect.  And as monthly agricultural output is the basis for agricultural GDP, increased activity on DoneDeal helps anticipate the future path of income in the year ahead.” Using what McWilliams has termed ‘Tractonomics’, the report illustrates how the number of used tractor ads placed on the DoneDeal site are also another great predictor of new tractor registrations and a positively correlated link to increased output in the future. Copies of the full report can be downloaded at www.tomorrowsireland.ie #Farming