“New Zealand dairy farmers are becoming world leaders in precision farming – they are using cost-effective, innovative solutions to get more value on-farm and ultimately do more with less.
“This was also evident in the 2018-19 Dairy Statistics with farmers achieving record milk production while cow numbers continue to decline,” said King.
“This is good for our dairy industry’s profitability, competitiveness and reputation in global markets. It shows our farmers are evolving with the times, and demonstrating careful stewardship of their land, their cows and the resources they need to produce milk.”
Underlying earnings at year-end remained forecast to be in the range of $21-25 million, assuming no significant climate event or milk price drop takes place between now and then nor any major impacts from M bovis, LIC said.