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The 2011-12 year was one of strong performance for dairy farmer owned LIC.
LIC chairman, Murray King says the volatility of the dairy industry saw an increasing number of farmers invest in innovations that make it easier and more efficient to farm.
"LIC's Protrack farm automation range and GeneMark DNA parentage verification products, for example, enjoyed record sales," he says.
"Our web based software products, MINDA Milk, MINDA Weights and MINDA Land & Feed, also gained significant customer uptake reflecting the value that farmers place on dairy cow performance and being able to make better, more informed decisions on farm."
King says the price freeze which LIC applied to all products in the 2009-10 season, in recognition of the tough financial conditions being experienced on farm, remained in place for Premier Sires in 2010/2011 and 2011/2012 with only a slight increase in the price of MINDA and herd testing.
"These increases were, however, offset by the launch of innovative free products like MINDA Milk, MINDA Weights and Land & Feed."
LIC revenue for 2011-12 was $177 million 7% ahead of the $166 million achieved during 2010-11.
All profit is returned to LIC's 10,500 New Zealand dairy farmer owners/shareholders in products, research and development or dividends.
LIC chief executive David Chin says meeting the revised methane reduction targets will rely on practical science, smart technology, and genuine collaboration across the sector.
Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
The first calves of a new crossbred dairy-beef offering are now on the ground at a Pamu (Landcorp) farm near Taupo.
Academic and former Fonterra director Nicola Shadbolt has been elected as LIC director.
With the current situation in the European farm machinery market being described as difficult at best, it’s perhaps no surprise that the upcoming AgriSIMA 2026 agricultural machinery exhibition, scheduled for February 2026 at Paris-Nord Villepinte, has been cancelled.
The Meat Industry Association of New Zealand (MIA) has launched the first in-market activation of the refreshed Taste Pure Nature country-of-origin brand with an exclusive pop-up restaurant experience in Shanghai.
Jayna Wadsworth, daughter of the late New Zealand wicketkeeper Ken Wadsworth, has launched an auction of cricket memorabilia to raise funds for I Am Hope's youth mental health work.
As we move into the 2025/26 growing season, the Tractor and Machinery Association (TAMA) reports that the third quarter results for the year to date is showing that the stagnated tractor market of the last 18 months is showing signs of recovery.
DairyNZ chair Tracy Brown is urging dairy farmers to participate in the 2026 Levy vote, to be held early next year.
Beef + Lamb New Zealand (B+LNZ) is calling for nominations for director roles in the Eastern North Island and Southern South Island electoral districts.
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