Next generation of DNA testing
Herd improvement co-operative LIC is combining its DNA parentage testing and genomic evaluation services into one convenient service to help farmers identify their highest genetic merit animals.
Farmer co-op LIC will hold meetings nationally next month to brief shareholders on its ambitious growth strategy.
The update will include a timeframe for possible capital requirement to deliver on the strategy; the co-op aims to achieve $1 billion in revenue by 2025.
LIC chairman Murray King says the co-op has a strong balance sheet to fund growth.
He ruled out any plans to list the co-op.
“We reaffirm that LIC will remain a co-operative,” he told Dairy News. “That is sacrosanct; a public listing is not on my agenda.”
King and LIC chief executive Wayne McNee will address the nine farmer meetings, allowing the board and management to meet shareholders face-to-face.
“We haven’t done a roadshow for a long time; the last one was in 2008 when genomic was launched. The business strategy is ambitious and we will give farmer shareholders an update of where we are, especially our international business plans.”
In his letter to shareholders, King said the co-op wanted “an early discussion with you, our shareholders, on the service and solutions we have in development, progress with acquisitions which fit our strategy, and funding options for LIC over the next few years”.
“There is no ‘burning issue’. However, we do want to give you this opportunity to join us in discussing the direction of your co-operative in an open session,” he told shareholders.
The roadshow will also include an update on the Minda and Farm Performance Software.
Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.
Shipping disruption caused by Houthi rebels in the Red Sea has so far not impacted fertiliser prices or supply on farm.
The opportunity to spend more time on farm while providing a dedicated service for shareholders attracted new environmental manager Ben Howden to work for Waimakariri Irrigation Limited (WIL).
Federated Farmers claims that the Otago Regional Council is charging ahead unnecessarily with piling more regulation on rural communities.
Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.
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