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.
LIC farmers are set to benefit from a genetics collaboration with US company, Sexing Technologies (ST).
LIC chief scientist Richard Spelman says this is part of their focus to breed the best cows to improve the national herd.
"Collaborating with ST to access their genetics means that we'll be bringing in genetic diversity and traits of interest, such as improved udder conformation. The genetics will be available for New Zealand LIC farmers in 2026.
ST chief executive Juan Moreno says that working with LIC to access its herd genetic diversity is an exciting opportunity for ST.
"We have a vision to help create the best animals and the collaboration will mean that LIC, and therefore New Zealand farmers, will have access to US elite breeding heifers."
Last year, LIC generated embryos specific traits using elite LIC sires and a number of ST's elite female donors.
These were implemented at ST to create first progeny of calves (F1) - these first animals are half US, half NZ bred.
The resultant sires will have semen collected and will be available to LIC New Zealand farmers in 2026. The heifers born in USA will then be used to generate embryos with elite LIC sires utiliing cutting-edge US technology and skills. The male sexed embryos will be sent to NZ to provide LIC semen for breeding, supporting continued genetic improvements.
"This multi-year project is part of LIC's core business to invest in breeding programmes and research so we can offer the genetic diversity to our farmers," says Spelman.
"We've listened to our farmers - they've been asking for greater diversity in our cow population, as well as improvement in udders to support the greater production per cow.
"We're excited to leverage off US cutting edge technology, as well as fast-tracking access to superior udder traits.
"Signing the contract with ST technologies USA marks an exciting step in the future of our genetic diversity," says Spelman.
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Federated Farmers North Canterbury president Bex Green says two public meetings held this week should have made it loud and clear that rural families and businesses are concerned about proposed staffing changes at NZ Police.
The Environmental Protection Authority (EPA) is consulting on a proposal to ban weedkillers containing chlorthal-dimethyl (DCPA).
August 6 marks Farm Worker Appreciation Day, a moment to recognise the dedication and hard mahi of dairy farm workers across Aotearoa - and DairyNZ is taking the opportunity to celebrate the skilled teams working on its two research farms.
OPINION: The Government has been seeking industry feedback on its proposed amendments to a range of Resource Management Act (RMA) national direction instruments.
OPINION: Sydney has a $12 million milk disposal problem.
OPINION: Canterbury milk processor Synlait's recovery seems to have hit another snag.