This release provides key points and budget tables from the 2010 dairy monitoring programme for the Taranaki dairy model. Please note that the sample of farms has changed between 2008/09 and 2009/10. Caution should be taken when comparing data between these two years.
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- Milk production fell 1 percent in 2009/10 as a result of drought conditions in southwest Taranaki. A 2 percent improvement in production is expected in 2010/11.
- Income in 2009/10 was well above expectations, increasing 20 percent to $591 400 due to a substantial increase in the milk payout. A further 5 percent improvement is budgeted for in 2010/11.
- Expenditure in 2009/10 remained at a similar level to the previous year in response to the low predicted milk payout and low cash flows early in the season. Expenses are expected to increase 7 percent in 2010/11, largely the result of increased spending on feed.
- The combination of increased income, minimal change in expenditure and reduced interest payments resulted in a $118 500 improvement in farm profit before tax in 2009/10. A 10 percent improvement to $165 600 is expected in 2010/11.
- Taranaki dairy farmers are confident about the long term prospects of the industry and are adapting to the volatility in income that has been occurring in recent times.
Taranaki dairy model tables and graph
- Table 1: Key parameters, financial results and budget for the Taranaki dairy model
- Table 2: Taranaki dairy model budget
- Table 3: Taranaki dairy model expenditure
- Figure 1: Taranaki dairy model profitability trends
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Information about the model
The Taranaki dairy model represents approximately 1770 dairy farms in the Taranaki region. The model is based on an owner-operated business with a predominantly cross-bred herd. It does not own a run-off but grazes replacement stock off the farm and buys in 8 to 12 percent of feed used.
The model is created from information drawn from 25 dairy farms and a wide cross section of agribusiness representatives. The aim of the model is to typify an average dairy farm for Taranaki. Budget figures are averaged from the contributing properties and adjusted to represent a real dairy farm. Income figures include off-farm income, new borrowing, and other cash income.
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