Herd production performance soars
New data released by LIC and DairyNZ shows New Zealand dairy farmers have achieved the highest six week in-calf rate and lowest notin- calf rate on record.
Farmer cooperative LIC has delivered a solid half-year result with revenue up 4% to $170 million.
LIC reported $60 million in earnings before interest, tax, depreciation and amortisation. The company’s net profit was up 10.4%, sitting at $33.4 million compared to $30.3 million in the same period last year.
Board chair Murray King says the cooperative is balancing profit with focused R&D and technology investment for the long term.
“We are investing in the areas where LIC has unique capability to maximise the value LIC’s customers generate from their livestock and their produce, providing technology and services to make farmers’ lives easier,” King says.
He says this includes investment in key areas like genetics and research and development.
King says the highlight of the result was farmers’ growing confidence in LIC’s genomic selection with around 1.4 million inseminations from genomic sires this year, up from 400,000 in 2017.
“Genomic science and genomic sequencing technology is generating markedly increased productivity and health traits for dairy cows and better returns for dairy farmers.
“LIC is now a world leader in pastoral dairy genomic science thanks to the foresight of LIC’s board and shareholders.”
He says the cooperative has invested $78 million into genomic science over the last 30 years to speed up genetic gain in dairy herds.
King says the half-year result is pleasing considering the disruption of the second Covid-19 lockdown and he paid tribute to the cooperative’s management and staff.
“Our people have had to overcome significant challenges to ensure business continuity and uninterrupted service for LIC’s 10,000 New Zealand customers and their dedication, resilience and effort is very much appreciated.”
New Zealand dairy processors are welcoming the Government’s commitment to continuing to push for Canada to honour its trade commitments.
An educational programme, set up by Beef + Land New Zealand, to connect farmers virtually with primary and intermediate school students has reported the successful completion of its second year.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
Waikato herd health veterinarian Katrina Roberts is the 2024 Fonterra Dairy Woman of the Year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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