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.
Breeders from all over the country were invited to LIC’s annual Breeders’ Day in Hamilton on April 14 after supplying a bull calf to the cooperative which went on to form part of its 2014 elite artificial breeding teams, Premier Sires.
LIC chairman and Nelson dairy farmer Murray King says the event recognises the co-op’s partnership with farmers who have bred a bull good enough to sire future generations of dairy cows.
“As a farmer, I stand in awe of what you have achieved. You are not only successful dairy farmers, but you also have the distinction of belonging to a unique group of farmers who breed bulls good enough to bear the Premier Sires title.
“LIC is immensely proud of our partnership with you, and the value it delivers – not just this year, but for years to come -- on the average Kiwi dairy farm, to the industry as a whole, and to the NZ economy. You can all take pride in knowing that your excellence in farming and animal breeding is making an enduring difference.”
The co-op’s Premier Sires bull teams are responsible for about three out of four dairy cows in NZ.
Since its Sire Proving Scheme was introduced 54 years ago, LIC has proven just over 10,000 bulls for widespread use on farms nationwide, with each year’s intake of bulls better than the year before, King said.
Prior to that, an analysis of sires in 1939 found that only 28% improved production, 33% maintained production and 39% lowered it.
“Back in the 1950s the evolving science of artificial breeding raised eyebrows, but any concern turned to delight when bull daughters started to deliver better production than their dams.
“There are many things LIC does which embody what it means to be a co-operative – to work closely with and for our farmers – and there’s no better example than sire proving and the Premier Sires team of bulls.”
