Farm business income figures released by the government on Thursday show marked drops to the income of most farmers in 2012.

The figures serve to illustrate the serious financial impacts of unpredictable and often extreme weather throughout 2012. The strength of the pound against the euro also led to a 12 percent reduction in the value of Single payments.

Defra's latest figures show farm incomes in the UK fell by an average of 32 percent in 2012/13. The figures show pig and poultry producers were apparently unaffected by the poor weather that led to reduced returns elsewhere. Defra also said "For the cropping sector lower yields and quality were offset to some extent by higher prices."

Livestock and horticultural producers were hit by reductions in real terms of 50 percent and 45 percent respectively, while dairy and cereals farmers suffered falls in income of 43 percent and 30 percent. Mixed farm incomes dropped by 50 percent.

The NFU said the figures show the need for government support to help farmers whether challenging years such as 2012. Chief economist Phil Bicknell said, "These results highlight the financial impact of the appalling weather of 2012. Whether it was reduced output or higher feed bills, the bottom line for many farmers will have taken a hit… the weather of 2012 will shape farming's fortunes in 2013/14, particularly the knock-on impact of planting problems last autumn on this year's cropping. Financially, this year is likely to be another tough one for some farming sectors."

He continued, "We need… consistency and support from government to enable our farming industry to be resilient rather than leave significant parts of our industry at risk. That makes today's CAP consultation particularly relevant, given the questions asked on direct payments and rural development priorities."

The NFU is lobbying for a reduction in funds that the government intends to channel from the direct subsidy pillar of the Common Agricultural Policy into rural development. The government intends to use modulation to fund agri-environment schemes and other projects intended to grow the rural economy and reduce agriculture's impact on the environment, however, farmers and green groups have pointed out that other member state governments are likely to transfer funds in the opposite direction.