A HSBC Bank and NFU Cymru survey has indicated that demand for land in Wales is likely to remain strong.
The results, released at the Winter Fair, related to farmers who run 10,000 head of stock on 140 holdings, who were asked what changes they planned following CAP reform.
Three-quarters said they intend to maintain their farm size, and most of the rest planned to expand.
While 19% of those surveyed intended to reduce sheep numbers, a similar number wanted to increase their flock size, so the Welsh national flock was likely to stay about the same size.
However, 26% planned to meet market demand by changing the type of sheep they used.
More than one third of those surveyed expected to reduce suckler cow numbers, while only 13% said they would keep more.
Despite being urged by financial consultants to do the opposite, 95% of respondents said they would use their single farm payments simply to make their books balance.