Government pay­out from Land­corp un­likely

South Waikato News - - RURAL DELIVERY -

The na­tion­wide drought has sucked $12.3 mil­lion from Land­corp’s earn­ings, the government-owned farmer says.

The com­pany would break even for the year, though a change in the weather could al­ter that, chief ex­ec­u­tive Chris Kelly said.

How­ever, the Government’s ex­pec­ta­tion of a year-end div­i­dend would not be met.

Milk pro­duc­tion was 6 per cent un­der bud­get as most dairy farms re­duced milk­ing. Al­most half of Land­corp’s 50,000 cows would be dried off by the end of April to en­sure good cow con­di­tion for next sea­son.

Land­corp had shipped 10,000 trad­ing lambs from North Is­land farms to those less af­fected in Can­ter­bury and Otago.

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