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.
Precision will share its nutrient management functionality for integration with the co-op’s Minda farm management system used by 90% of dairy farmers.
LIC chief executive Wayne McNee says it would provide enhanced information for farmers about their pasture and feed availability.
“With a predominantly grass-based industry we recognise pasture management and feed optimisation is important.
“Seamless integration of farm information like fertiliser, effluent, water and irrigation will complement our existing pasture management tools in Minda.”
Precision Farming’s system records spreading and nutrient activity on 4500 farms, based on data generated by 720 of the country’s estimated 800 commercial fertiliser spreading trucks.
Precision Farming also markets fertiliser monitoring GPS equipment direct to farmers, for use on self-spreading equipment and for GPS guidance and control of tractors, sprayers and harvesters.
Brendon Cane, managing director of Precision Farming, says the partnership will make it easier, faster and more profitable for more farmers to use integrated farm management information to support better decisions.
As a contractor himself, he appreciates the benefits of reducing the time and cost, and often the guesswork, in improving pasture performance as part of overall farm profitability. “With the current economic environment, finding any inefficiencies in operating expenses is more important than ever.”
