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.
Mint Edition, bred by Old and his wife Linda at their Fairmont Stud, became the 53rd member of LIC’s hall of fame. The induction was held during the LIC Breeders Day.
Mint Edition had been on LIC’s premier sires list for four consecutive seasons, adding about 155,000 inseminations per season. He had a total of 800,000 inseminations to his credit and 71,000 herd tested daughters, scattered around the globe.
Old says he was chuffed to be told three months ago about Mint Edition’s induction. “It’s something unreal, a chance of a lifetime,” he told Dairy News.
The Olds milk 280 cows; the farm is owned by a trust and milk is sold to independent processor Tatua.
He says his interest lies in his commercial herd; bull breeding is a part-time occupation.
“I am sharemilking for milk production, not for rearing cows or breeding. I sort-of try to put different bulls against different cows that I think might work.
“I don’t go for legs and feet; I go for mainly for protein, good udders and high BW. As a sharemilker that’s where my money comes from.”
Mint Edition was born in 2005 and carries an impressive pedigree.
He was sired by Top Deck KO Pierre, a bull favourite among many dairy farmers in New Zealand. His dam, Fairmont VP Mindy, is the daughter of well-known Valden Curious Paladium.
LIC’s Simon Worth says the hall of fame is a special recognition for bulls “that have a profound impact on the profitability of dairy farming in New Zealand and the national economy”.
The criteria for entering the hall of fame are very demanding and the merits of potential candidates are carefully assessed.
Old is proud to have bred a champion bull with the help of LIC. There’s no secret to breeding top bulls, he says. “It’s either luck of the draw or luck of the straw.”
Mint Edition
- Fairmont Mint Edition spent his first days at the Fairmont stud, Morrinsville.
- Mint Edition was the very first bull Barry and Linda sold to LIC
- Although he is no longer with us his current BW of 217 would still see him sit in the upper reaches of the RAS List
- Mint Edition’s superiority made him an obvious choice as a sire of sons.
- Across the industry no less than 112 sons have been sampled.
