The Northland Age

Catching up

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DairyNZ’s Economic Survey 2017-18 shows farmers have taken advantage of increased milk income to catch up on deferred farm maintenanc­e and “revisit” capital expenditur­e. Senior economist Matthew Newman said the annual survey showed the largest increases in spend from June 1, 2017, to May 31 last year, were on feed, repairs, maintenanc­e and labour. It was likely that spending had continued to increase. “The 2017-18 season was difficult due to a dry spring/early summer for all regions,” Mr Newman said. “That affected pasture growth and peak milk production. It’s also the season that Mycoplasma bovis was discovered. Overall, the break-even milk price increased 70 cents to $5.87 per kg milksolids in 2017-18, due to higher farm working expenses, increased tax payments and increased drawings.”

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