Dairy Farmers Under Greater Financial Pressure

While all farmers are experiencing increasing financial pressure from their banks, recent figures indicate that dairy farmers and sharemilkers are under the greatest pressure. Substantially more dairy farmers and sharemilkers than other farm types report feeling the financial strain. Sheep and beef farmers, in particular, are reported to be feeling relatively satisfied and not subject…

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Tax Tips for Farmers

The agricultural industry places unique demands on farmers, and keeping up-to-date with accounting and tax rules and regulations can be time-consuming. We’ve compiled a list of tips for making your farm accounting easier. Regardless of whether your end of year balance date is 31st March, 31st May or 30th June, take a physical stocktake of…

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Agriculture News: April / May 2014

 

  • Dairy milk prices have dropped for the fifth consecutive time in a row, which hopefully will contribute to the decision to leave interest rates where they currently are.  As farmers selling our produce, the last thing we need is high interest rates equating to a high dollar.  On the counter side of this argument, the housing demand – especially in Auckland – is still significant, as are the increasing numbers of new immigrants to New Zealand and the building boom commencing in Canterbury.
  • Stock prices appear to be holding despite the drought some of us have experienced in recent months.  Weaner prices appear to have been a mixed bag with good lines selling well at the fares, however lower to middle of the range stock was marginal.  Dairy cow prices also appear to be consistent with the previous year, despite the record Fonterra pay out.
  • Now is the time for regressing and getting ready for the winter months, and here’s hoping for another mild winter like most regions experienced last year.
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Farming In The Cloud

Mark FosterXero has just announced that it will be releasing its new “farming in the cloud” solution midway through the year.

The solution will allow farmers and their accountants to work on the same information and provide one central location for their key accounting and farm management tools.

A recent article written by Mike Peterson, Head of Beef + Lamb New Zealand, who is retiring this year, says that most farmers don’t understand what their balance sheet looks like or how cashflow requirements are going to be funded for any major farm development work.

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