LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
This is because 7% of the target is to be achieved through farming best practice with the themes of herd improvement and cow efficiency set to be influential.
“That’s where we come in; this announcement gives us a clear mandate to provide solutions to farmers to reduce their emissions intensity. LIC has known the challenges for some time and has been focused on supporting farmers to be profitable and sustainable in the future through cow efficiency,” says Sowman.
“Targeting a reduction in emissions intensity cements our focus on cow efficiency as a sustainable solution for the dairy sector, and the good news is, we have the cows that will get us there – we just need more of those highly efficient cows.
“We will continue the strong focus on longevity and minimising wastage as positive gains in this area will also significantly enhance on farm profitability and enable an improved emissions profile at a herd and farm level.”
LIC’s genetic research is leading to cows that produce less methane, are more tolerant of hotter climates, produce more milksolids per kg of liveweight and are all-round more efficient. Many farmers are investing in quality, efficient pastoral genetics which will put them in good stead to reduce their emissions intensity, and LIC will continue to support them to do that.
Long-term users of LIC genetics have almost doubled the rate of genetic gain in their herds over the last 10 years – these gains are cumulative and permanent, delivering long-term benefits into the future.
“We know the efficiencies that can be achieved on farm through herd improvement, and we are confident we can support farmers to reduce their emissions intensity.”
