Dairy farmer profits to hit record levels in 2025
The profitability of dairy farmers is likely to increase in the coming year, accordign to the latest report by the Ministry for Primary Industries (MPI) on the outlook for the primary sector.
The result of two probes into the supply of bad sire semen to over 1100 LIC farmer customers will be made public next month.
Following the semen quality issue LIC experienced in October last year, a thorough investigation was done, looking at all operational processes and possible improvements. An independent review was also carried out to look into LIC's response to the issue.
LIC chief executive David Chin says the outcomes of the investigation and independent review are being finalised and will be presented to the board next month.
Following that meeting, all farmer shareholders will be informed of the outcomes and any improvements that will be made to our business as a result, Chin says.
“We thank farmers for their patience and understanding while we work through this.
“We are disappointed as a co-op that we didn't deliver to the high standard farmers expect of us, and we continue to take this situation very seriously,” he says.
The farmer-owned co-operative has already paid out over $2 million to farmers as compensation for supplying some dairy farmers bad sire semen.
Two batches of bad semen were delivered to 1127 farms around the country; semen collected, processed and packed into straws and then sent to farms on October 15th and October 21st failed to pass quality control tests on day three. The straws were used over three days to mate herds and resulted in lower pregnancy rates. Fifteen of the 39 straws collected on October 16th and five of 31 straws collected on October 21st were affected.
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
Nationwide rural wellbeing programme, Farmstrong recently celebrated its tenth birthday at Fieldays with an event attended by ambassador Sam Whitelock, Farmers Mutual Group (FMG), Farmstrong partners, and government Ministers.
Six industry organisations, including DairyNZ and the Dairy Companies Association (DCANZ) have signed an agreement with the Ministry for Primary Industries (MPI) to prepare the country for a potential foot and mouth outbreak.
OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding…
OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?