Sheep & Beef Farm Profits Forecast to Double in 2025-26
Average sheep and beef farm profit is forecast to double this year, and rural communities are set to reap the benefits.
Kate Acland, chair of B+LNZ, says that looking back on the past year was significantly different to the previous year.
“The conversations I’ve been having with my fellow farmers have been quite different," Acland says.
“Instead of being all about day-to-day challenges, there’s more talk of planning for and investing in the future.”
She outlined her challenge to the Board and staff to think about longer-term ambitions for the sector.
Meanwhile, chief executive Alan Thomson reflected on his first full year in the role, providing more detail on achievements across B+LNZ's breadth of work.
“My focus has been on ensuring B+LNZ is operating at its best for farmers.
“I’m pleased to say that over the year we’ve seen farmer satisfaction with B+LNZ rise.”
Thomson noted the 75th anniversary of B+LNZ’s Sheep and Beef Farm Survey – the gold standard for independent farm performance insights – as a particular source of pride.
He also noted the meeting was Chief Operating Officer Cros Spooner’s last annual meeting for B+LNZ, after 22 years with the organisation, and wished him well for his retirement.
The results of two company resolutions, to increase directors’ fees, as recommended by the Director’s Independent Remuneration Committee and to reappoint KPMG as auditor, are now finalised following the meeting.
The first resolution on director fees was supported, with 58 percent voting in favour.
The second resolution on the appointment of the auditor was supported, with 98 percent in favour.
The voter turnout represented 8.69 percent of registered sheep, beef and dairy farmers. While this remains low each year, it aligns other industry groups’ processes.
The results of the Southern South Island farmer director election were announced on 13 March, with Southland farmer Matt McRae being elected. Current director Geoffrey Young retired at the annual meeting, and Acland thanked him for his service to the organisation.
