ECONOMIC SERVICE
SHEEP & BEEF FARM SURVEY
GISBORNE / HAWKES BAY / WAIRARAPA
2016-17 FORECAST AND QUINTILE ANALYSIS
OF FINAL 2014-15 SURVEY DATA | P17004
Dear Farmer / Industry Professional
The following analysis of the 2014-15 Sheep and Beef
farming year is ranked by Earnings (Profit) Before
Interest, Tax and Rent (EBITR) per hectare. South
Island classes 1 and 2 are ranked nationally by EBITR
per stock unit (EBITR/SU) due to their scale and
extensive management systems. It summarises the
key performance indicators from over 2000 data
points collected each year from each of our survey
farmers.
This document is available from the Information
section of the beeflambnz.com website.
For each farm class (see ‘Farm Classes Defined’) a
graphical analysis at regional level details the survey
outcome for farms surveyed for 2014-15 against the
regional mean, provisional results for 2015-16 and our
forecast for 2016-17.
Forecasts represent the best information available to
us at time of publication.
We thank our survey farmers who make these data
available for industry good.
The Survey and Source of Data
The Sheep and Beef Farm Survey is a sample survey
of approximately 520 farms. The sample is randomly
selected and stratified by geographical regions and
by sheep and beef cattle stock units. Data
associated with physical and financial aspects of
sheep and beef farming are recorded.
Statistical Requirements
The survey observes two fundamental principles:
1. The sample size is large enough to avoid the
undue influence of abnormal items; and
2. The selection of farms has been made at random,
so that each and every unit of the population has
had an equal chance of being selected.
The frame used for the random sampling is a
comprehensive list of sheep and beef farmers. In
order that the selection of farms is made as
representative as possible, considerable use is made
of existing empirical knowledge about sheep and
beef farming.
Farm Classes Defined (ordered extensive to
intensive by Island)
North Island
Class 3. N.I. Hard Hill Country 1,065 Farms - Steep hill
country or low fertility soils with most farms carrying
six to nine stock units per hectare. While some stock
are finished a significant proportion are sold in store
condition. Mainly breeding properties.
Class 4. N.I. Hill Country 3,640 Farms - Easier hill
country or higher fertility soils than Class 3. Carrying
between eight and thirteen stock units per hectare,
a high proportion of sale stock sold is in forward store
or prime condition.
Class 5. N.I. Intensive Finishing 1,275 Farms - Easy
contour farmland with the potential for high
production. Carrying between ten and fourteen
stock units per hectare, a high proportion of stock is
sent to slaughter and replacements are often
bought in. These tend to be smaller farms focused
on high production per hectare and may have
some cash cropping.
South Island
Class 1. S.I. High Country 215 Farms - Extensive run
country located at high altitude usually carrying fine
wool sheep, with wool as the main source of
revenue. Often carry breeding cows and deer.
Located mainly in Marlborough, Canterbury and
Otago.
Class 2. S.I. Hill Country 810 Farms - Traditionally
store stock producers with a proportion sold prime in
good seasons. Carrying between two and seven
stock units per hectare, they usually have a
significant proportion of beef cattle.
Class 6. S.I. Finishing Breeding 2,505 Farms - A more
extensive type of finishing farm, also encompassing
some irrigation units and some cash cropping.
Carrying capacity ranges from six to eleven stock
units per hectare on dryland farms and over twelve
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BY FARMERS. FOR FARMERS
Class 7. S.I. Intensive Finishing 1,290 Farms - High
producing grassland farms carrying about ten to
fourteen stock units per hectare with some cash
crop. Located mainly in Southland, South and West
Otago.
Class 8. S.I. Mixed Finishing 495 Farms - Mainly on the
Canterbury plains with a high proportion of the
revenue being derived from grain and small seed
production as well as stock finishing.
ranked by EBITR/SU.
Report Headers
Class
The farm class (refer Farm Classes
Defined)
Unit
The unit of measure of each metric
Q1 low
2014-15
Quintile 1 - the 0-20% of sample
ranked by EBITR/ha
Q2
2014-15
Quintile 2 - the 21-40% of sample
ranked by EBITR/ha
Q3
2014-15
Quintile 3 - the 41-60% of sample
ranked by EBITR/ha
Q4
2014-15
Quintile 4 - the 61-80% of sample
ranked by EBITR/ha
Q5 high
2014-15
Quintile 5 - the top 20% of sample
ranked by EBITR/ha
Mean
2014-15
The arithmetic average of the
sample
Prov
2015-16
Provisional results for the class
financial year ending June 2016
Forecast
2016-17
Our forecast for the class financial
year ending June 2017
Measures Used in this Report
Earnings Before Interest, Tax and Rent (EBITR) – Farm
Profit before Interest, Tax and Rent
Gross Farm Revenue (GFR) – the total revenue
earned from the year's farming operations. From this,
Total Farm Expenditure that was spent to generate
the farm revenue is deducted to show the Farm
Profit Before Tax for the year.
Economic Farm Surplus (EFS) – the return available
to the owner-operator of a freehold,
unencumbered farm after allowance has been
made for labour and management input. It is
calculated as follows:
EFS = Farm Profit Before Tax + Managerial salaries +
Interest paid + Rent paid - Assessed Managerial
Reward (equivalent ruling wage for an experienced
farm worker + 1% of farm capital for management).
Rate of Return on Total Farm Capital (ROR on TFC) –
EFS as a percentage of Total Farm Capital. Total
Farm Capital is defined as Farm Capital (farm assets
at market value) plus an allowance for working
capital. The working capital allowance is necessary
because of timing differences between farm
revenue and expenditure resulting in overdrafts to
finance expenditure, or high credit balances to pay
for upcoming expenditure. The working capital
allowance is assumed at 50 per cent of the sum of
Working Expenses and Assessed Managerial
Reward.
Lambing % – The number of lambs tailed from ewes
as a percentage of ewes mated in the previous
autumn (adjusted for dries sold before 30 June and
the sale or purchase of in-lamb ewes).
Calving % – The number of calves marked as a
percentage of cows mated (adjusted for empties
sold before 30 June and the sale or purchase of incalf cows).
Report Title
Indicates which Class and Region is being
benchmarked. Please note Classes 1 and 2 are
Feedback
Feedback on this publication is encouraged.
Contact the Economic Service Manager in your
region (refer back page).
Beef + Lamb New Zealand Economic Service
[email protected]
Apr 2017
ISSN 2230-5777
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 3 N.I. Hard Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
EBITR $/ha
0
100
GFR $/ha
200
300
400
500
600
0
140
3
200
EFS $/ha
400
600
800
1,000
1,200
9
10
-100
0
100
200
300
400
500
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Lambing %
70
80
Stocking Rate SU/ha
90
100
110
120
130
4
5
6
Total Expenditure $/ha
7
8
0
200
400
600
800
20
40
60
80
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Interest $/ha
Fertiliser (on ground) $/ha
0
50
100
150
0
20
R&M $/ha
40
60
80
100
0
80
100
0
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Sales All Lambs $/head
50
60
70
90
100
0
20
Q1 low 2014-15
P
Q2
2014-15
P
Q3
2014-15
P
Q4
2014-15
P
Q5 high 2014-15
P
Mean
2014-15
P
Prov.
2015-16
P
Forecast 2016-17
P
Term Liabilities $/ha
0
200
400
600
Total Meat Production kg/ha
Sales All Lamb Prime [P] v Store %
80
40
60
1,000 1,200 1,400
0
20
40
2014-15
Q3
2014-15
Q4
2014-15
80
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
150
Beef
200
Deer
RoR on TFC at open %
60
Q1 low 2014-15
Q2
100
Sheep
Equity at close %
800
50
Forecast 2016-17
© B+LNZ Economic Service | P17004
100
-1
0
1
2
3
4
5
6
7
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 3 N.I. Hard Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 3
N.I. Hard Hill Country
Unit
Effective Area
Cash Crop Area
New Grass Area
Total Labour Units
Working Owners
ha
ha
ha
No.
No.
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
628
1,174
943
659
789
842
842
842
6
1.90
1.00
2.52
1.08
5
1.99
1.01
4
2.08
1.33
10
2.05
0.97
5
2.10
1.08
3,922
2,826
112
6,861
8.1
58.1
3,780
2,695
116
6,591
7.8
58.4
3,760
2,706
123
6,589
7.8
58.2
110.0
131
500
85.0
101
500
Open Sheep
Open Cattle
Open Deer
Open Total
Stocking Rate
Sheep:Cattle SU Ratio
SU
SU
SU
SU
SU/ha
%
3,076
1,915
5,188
3,641
4,062
3,344
3,693
1,998
4,991
7.9
61.6
8,829
7.5
58.8
7,406
7.9
54.9
5,691
8.6
64.9
3,570
3,148
578
7,296
9.2
53.1
Pasture Fertiliser
Crop Fertiliser
Total Fertiliser
Total Fertiliser
Other Fertiliser
tonnes
tonnes
tonnes
kg/ha
$
80.5
0.5
81.0
129
2,481
110.0
90.1
7.7
97.9
104
168.0
1.0
169.0
257
173.5
8.8
182.3
231
123.3
3.7
127.1
151
480
Pasture N
Pasture P
Pasture K
Pasture S
kg/ha
kg/ha
kg/ha
kg/ha
3.6
15.5
0.3
15.6
3.6
7.0
10.4
2.0
10.2
0.1
14.2
15.8
18.0
0.7
24.3
4.0
13.4
3.3
22.9
5.1
11.9
0.7
16.5
Lime
Lime
Lime
tonnes
kg/ha
kg/SU
11
17.5
2.2
109
92.8
12.3
43
45.4
5.8
2
3.5
0.4
121
153.6
16.6
57
67.5
8.3
40
47.5
6.1
40
47.5
6.1
Ewes mated
Lambs from ewes
Lambs from hgts
All Lambs tailed
Lambing
Hgt lambs % all lambs
No.
No.
No.
No.
%
%
2,271
2,618
72
2,690
115.3
2.7
4,316
4,814
67
4,881
111.5
1.4
3,087
3,487
132
3,619
113.0
3.7
2,810
3,544
275
3,819
126.1
7.2
2,834
3,759
271
4,030
132.6
6.7
3,064
3,639
162
3,802
118.8
4.3
2,945
3,431
151
3,582
116.5
4.2
2,889
3,420
130
3,550
118.4
3.7
Cows + Hfrs mated
Calves marked
Calving
Hinds mated
Fawns marked
Fawning
No.
No.
%
No.
No.
%
184
136
74.2
289
235
81.4
218
173
79.4
143
125
87.0
172
161
93.1
123
100
81.3
202
166
82.3
24
19
81.3
203
163
80.3
19
14
73.7
207
168
81.2
21
15
71.4
%
%
%
%
%
%
0.8
4.7
0.7
4.5
3.6
6.0
0.8
2.3
2.1
6.0
0.4
2.0
2.3
3.8
0.7
1.9
1.7
3.6
2.0
1.2
2.3
4.9
1.0
2.2
3.2
4.2
1.0
2.9
2.8
4.3
1.0
2.4
1.2
1.5
2.9
2.7
kg/ha
kg/ha
kg/ha
kg/ha
kg/ha
67.6
-2.1
36.6
60.6
-4.8
42.9
64.4
-3.2
59.7
97.6
2.2
62.6
84.5
102.1
98.7
121.0
162.4
84.9
7.2
176.6
72.5
-2.1
56.9
1.3
128.6
kg
kg
kg/head
kg/SSU
kg/ha
kg
kg/ha
c/kg
c/kg
c/SSU
15,046
15,032
4.40
4.89
23.94
16,875
26.9
341.0
147.7
722.0
22,121
22,457
4.06
4.33
19.13
24,137
20.6
352.5
151.9
657.4
17,377
16,287
3.61
4.01
17.27
18,028
19.1
376.8
160.9
645.0
19,243
19,243
4.74
5.21
29.22
21,076
32.0
374.1
134.9
703.0
17,176
17,176
4.42
4.81
21.77
19,033
24.1
379.8
109.4
526.1
18,166
17,982
4.19
4.58
21.36
19,772
23.5
365.3
141.7
649.5
16,829
16,870
4.08
4.46
20.04
16,611
16,611
4.02
4.42
19.73
394.3
145.4
648.9
262.0
143.8
635.2
Lamb Loss
Sheep Loss
Calf Loss
Cattle Loss
Fawn Loss
Deer Loss
Lamb Prodn
Mutton Prodn
Beef Prodn (incl dairy grazing)
Deer Prodn
Total (incl goat)
Wool Sold
Wool Shorn
Wool Shorn
Wool Shorn
Wool Shorn
Wool Prodn (calculated)
Wool Prodn (calculated)
Wool net before freight
Shearing Expenditure
Shearing Expenditure
110.0
94
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 3 N.I. Hard Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 3
N.I. Hard Hill Country
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Sales Prime Lambs
Sales Prime Lambs
Sales Prime Lambs
Sales Prime Lambs
Sales Store Lambs
Sales Store Lambs
Sales All Lambs
Sales All Lambs
No.
$/head
$/kg CW
%
No.
$/head
No.
$/head
666
90.65
5.46
42.00
919
63.81
1,585
75.36
842
86.56
5.18
24.00
2,665
64.37
3,507
69.70
1,284
96.76
5.48
61.90
790
69.24
2,074
86.61
2,190
91.51
5.35
85.00
387
67.80
2,577
88.48
2,367
87.33
5.19
81.20
549
64.76
2,915
83.41
1,464
90.62
5.32
58.20
1,053
65.38
2,517
80.33
789
84.87
4.98
33.00
1,601
69.81
2,390
74.97
1,001
80.00
4.70
42.00
1,383
62.40
2,384
69.92
Sales Prime Hogget
Sales Prime Hogget
Sales Prime Hogget
Sales Prime Ewes
Sales Prime Ewes
Sales Prime Ewes
No.
$/head
$/kg CW
No.
$/head
$/kg CW
255
109.95
6.05
336
76.50
3.37
100
95.60
4.68
663
64.49
2.88
551
115.76
6.22
404
79.71
3.35
317
129.80
6.36
515
80.66
3.13
284
109.64
6.17
513
81.54
3.28
309
115.27
6.11
484
75.81
3.17
338
97.98
5.19
419
60.40
2.53
334
110.00
5.83
309
68.00
2.85
22
563
4
442
1
571
5
639
6
577
5
784
13
613
6
495
4
724
13
638
4
605
2
640
8
632
2
586
2
604
4
995
3
824
6
1,125
24
992
10
800
6
1,141
26
1,021
10
847
4
1,265
26
980
12
858
4
1,026
Sales Calf/Wnr Str Store
Sales Calf/Wnr Str Store
Sales Calf/Wnr Hfr Store
Sales Calf/Wnr Hfr Store
Sales Calf/Wnr Bull Store
Sales Calf/Wnr Bull Store
No.
$/head
No.
$/head
No.
$/head
37
613
13
419
Sales 1-1.5 Steer Store
Sales 1-1.5 Steer Store
Sales 1-1.5 Heifer Store
Sales 1-1.5 Heifer Store
Sales 1Yr+ Bulls Store
Sales 1Yr+ Bulls Store
No.
$/head
No.
$/head
No.
$/head
25
1,048
29
792
4
1,200
Sales 1-1.5 Strs Prime
Sales 1-1.5 Strs Prime
Sales 1-1.5 Strs Prime
Sales 1-1.5 Hfrs Prime
Sales 1-1.5 Hfrs Prime
Sales 1-1.5 Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Strs Prime
Sales 2Yr+ Strs Prime
Sales 2Yr+ Strs Prime
Sales Prime Cows
Sales Prime Cows
Sales Prime Cows
Sales Prime Bulls
Sales Prime Bulls
Sales Prime Bulls
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
Sheep Gross Margin
Cattle Gross Margin
Deer Gross Margin
$/SSU
$/CSU
$/DSU
Gross Farm Revenue
Gross Farm Revenue
Gross Farm Revenue
$
$/ha
$/SU
Wool Revenue
Sheep Revenue
Sheep+Wool Revenue
Cattle Revenue
Dairy Grz Revenue
Deer+Velvet Revenue
$/SSU
$/SSU
$/SSU
$/CSU
$/DzSU
$/DSU
Total Expenditure
Total Expenditure
Total Expenditure
Total Expenditure
$
$/ha
$/SU
% of GFR
600
45
935
14
711
768
3
716
5.76
5
610
16
733
43
1,014
7
981
18
1,138
693
11
838
4.96
16
1,176
4.93
2
1,519
5.15
31
969
4.41
2
1,954
4.97
58
885
4.42
3
1,308
4.86
53
861
4.25
72
1,600
5.41
9
1,641
5.16
5
1,126
5.17
73
1,204
5.05
34
1,675
5.46
37
1,113
4.46
32
1,593
5.26
13
1,354
5.17
4
1,311
5.19
25
1,264
5.14
46
1,575
5.13
30
1,176
4.54
30
1,612
5.17
4
1,173
5.15
23
807
5.74
36
1,174
5.19
32
1,761
5.58
42
999
4.46
128
1,432
5.34
6
1,373
5.18
9
910
5.37
42
1,120
4.93
24
1,647
5.35
39
1,009
4.41
52
1,522
5.32
26
1,086
4.78
39
1,389
4.51
38
979
4.28
34
1,723
6.03
30
1,236
5.44
20
1,361
4.42
40
1,017
4.45
34
1,398
4.89
55.60
35.77
43.84
48.65
63.68
62.35
78.02
83.46
85.43
85.42
82.59
63.82
63.32
82.59
58.93
54.80
45.62
52.09
50.96
48.23
355,033
565.34
71.13
606,275
516.34
68.67
634,746
672.91
85.71
605,337
919.03
106.37
802,746
1,017.42
110.02
601,922
714.87
87.74
524,900
623.40
79.64
492,400
584.80
74.73
16.69
62.08
78.76
53.73
15.04
51.35
66.40
67.04
15.35
70.35
85.70
81.84
19.51
84.08
103.59
106.56
17.80
90.89
108.70
102.44
16.66
70.35
87.02
82.29
17.91
62.22
80.13
73.10
11.46
61.86
73.32
69.77
114.67
114.67
75.51
79.98
348,465
554.88
69.82
98.2
478,157
407.23
54.16
78.9
491,601
521.16
66.38
77.4
402,785
611.52
70.78
66.5
435,385
551.82
59.67
54.2
433,225
514.52
63.15
72.0
412,300
489.67
62.56
78.5
401,600
476.96
60.95
81.6
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 3 N.I. Hard Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 3
N.I. Hard Hill Country
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Wages and Salaries
Animal Health
Weed and Pest
Shearing
Fertiliser
Lime
Seeds
Vehicles & Fuel
Electricity
Feed & Grazing
Cultivation/Sowing
Cash Crop
R&M
Cartage
Administration
Insurance & ACC
Rates
Interest
Rent
Depreciation
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
136.21
35.53
12.55
35.36
70.48
1.28
1.76
35.63
6.61
14.40
3.25
65.91
27.52
13.35
29.04
49.49
4.39
0.01
19.50
6.93
12.56
66.58
21.84
6.96
27.77
55.91
2.05
3.65
24.01
5.67
5.66
5.87
51.24
48.16
11.63
39.41
113.82
0.41
4.63
35.72
5.54
24.73
4.12
82.55
43.74
9.73
23.80
94.72
5.31
6.92
30.06
5.29
17.37
11.40
77.02
33.31
10.70
30.25
72.09
2.91
3.14
27.34
6.05
13.79
4.64
76.43
32.85
10.70
29.13
61.34
2.85
3.10
27.10
6.59
14.35
4.50
77.38
33.83
10.91
28.36
46.53
2.95
3.07
27.27
6.65
14.49
4.42
64.49
10.71
41.39
15.59
17.11
26.96
1.58
24.01
59.86
5.23
26.03
12.12
16.42
34.53
10.29
14.06
68.60
8.06
13.93
11.80
17.16
81.22
67.56
26.87
74.13
6.06
19.42
18.38
15.16
91.41
13.63
33.92
56.90
10.04
19.19
12.60
17.52
59.39
11.83
33.46
64.36
7.73
22.94
13.57
16.72
58.37
24.30
25.26
56.65
7.66
22.95
13.79
17.22
54.13
24.35
23.99
59.22
7.73
23.18
14.01
17.73
50.77
25.53
22.92
Wages and Salaries
Animal Health
Weed and Pest
Shearing
Fertiliser
Lime
Seeds
Vehicles & Fuel
Electricity
Feed & Grazing
Cultivation/Sowing
Cash Crop
R&M
Cartage
Administration
Insurance & ACC
Rates
Interest
Rent
Depreciation
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
17.14
4.47
1.58
4.45
8.87
0.16
0.22
4.48
0.83
1.81
0.41
8.77
3.66
1.78
3.86
6.58
0.58
8.48
2.78
0.89
3.54
7.12
0.26
0.46
3.06
0.72
0.72
0.75
5.93
5.57
1.35
4.56
13.17
0.05
0.54
4.13
0.64
2.86
0.48
8.93
4.73
1.05
2.57
10.24
0.57
0.75
3.25
0.57
1.88
1.23
9.45
4.09
1.31
3.71
8.85
0.36
0.38
3.36
0.74
1.69
0.57
9.76
4.20
1.37
3.72
7.84
0.36
0.40
3.46
0.84
1.83
0.58
9.89
4.32
1.39
3.62
5.95
0.38
0.39
3.48
0.85
1.85
0.56
8.11
1.35
5.21
1.96
2.15
3.39
0.20
3.02
7.96
0.70
3.46
1.61
2.18
4.59
1.37
1.87
8.74
1.03
1.77
1.50
2.19
10.35
8.61
3.42
8.58
0.70
2.25
2.13
1.75
10.58
1.58
3.93
6.15
1.09
2.07
1.36
1.89
6.42
1.28
3.62
7.90
0.95
2.82
1.67
2.05
7.16
2.98
3.10
7.24
0.98
2.93
1.76
2.20
6.91
3.11
3.06
7.57
0.99
2.96
1.79
2.27
6.49
3.26
2.93
Farm Profit Before Tax
Farm Profit Before Tax
Farm Profit Before Tax
$
$/ha
$/SU
6,568
10.46
1.32
128,118
109.11
14.51
143,145
151.75
19.33
202,552
307.52
35.59
367,361
465.60
50.35
168,697
200.35
24.59
112,600
133.73
17.08
90,800
107.84
13.78
EBITR
EBITR
EBITR
$
$/ha
$/SU
24,488
38.99
4.91
180,742
153.93
20.47
283,486
300.53
38.28
271,737
412.56
47.75
423,551
536.82
58.05
238,307
283.02
34.74
178,676
212.20
27.11
155,048
184.14
23.53
Econ Farm Surplus
Econ Farm Surplus
Econ Farm Surplus
$
$/ha
$/SU
-18,020
-28.69
-3.61
86,058
73.29
9.75
182,776
193.77
24.68
164,065
249.09
28.83
323,918
410.54
44.39
148,889
176.83
21.70
98,151
116.57
14.89
73,172
86.90
11.11
Total Farm Capital at open
Total Farm Capital at open
Total Farm Capital at open
Total Assets at close
$
$/ha
$/SU
$
3,800,243
6,051
761
4,297,713
6,714,388
5,718
761
6,698,296
6,291,916
6,670
850
6,796,191
4,605,646
6,992
809
4,887,112
5,566,578
7,055
763
6,100,021
5,424,663
6,443
791
5,789,425
5,506,219
6,539
835
5,819,179
5,548,654
6,590
842
5,789,569
Current Liabilities at close
Term Liabilities at close
Reserves at close
Net Worth at close
Equity at close
RoR on TFC at open
$
$
$
$
%
%
56,109
192,015
257,167
3,792,422
88.2
-0.5
92,324
515,519
206,167
5,884,286
87.8
1.3
100,022
1,154,648
2,454,286
3,087,234
45.4
2.9
108,375
764,176
384,167
3,630,394
74.3
3.6
57,292
734,850
317,500
4,990,379
81.8
5.8
83,379
687,803
779,677
4,238,565
73.2
2.7
96,000
680,000
779,677
4,263,502
73.3
1.8
110,800
700,000
779,677
4,199,092
72.5
1.3
2.59
0.92
1.67
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 4 N.I. Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
EBITR $/ha
0
GFR $/ha
100
200
300
400
500
600
700
0
140
150
3
EFS $/ha
200
400
600
800
1,000
0
1,200
100
200
300
400
500
400
600
800
1,000
40
60
80
100
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Lambing %
70
80
Stocking Rate SU/ha
90
100
110
120
130
4
5
6
Total Expenditure $/ha
7
8
9
10
11
0
200
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Interest $/ha
Fertiliser (on ground) $/ha
0
50
100
150
0
50
R&M $/ha
100
150
200
250
0
80
100
0
20
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Sales All Lambs $/head
50
60
70
90
100
0
20
Q1 low 2014-15
P
Q2
2014-15
P
Q3
2014-15
P
Q4
2014-15
P
Q5 high 2014-15
P
Mean
2014-15
P
Prov.
2015-16
P
Forecast 2016-17
P
Term Liabilities $/ha
0
500
Total Meat Production kg/ha
Sales All Lamb Prime [P] v Store %
80
1,000 1,500 2,000 2,500 3,000 3,500
40
60
20
40
2014-15
Q3
2014-15
Q4
2014-15
80
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
150
Beef
200
250
Deer
RoR on TFC at open %
60
Q1 low 2014-15
Q2
100
Sheep
Equity at close %
0
50
Forecast 2016-17
© B+LNZ Economic Service | P17004
100
0
1
2
3
4
5
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 4 N.I. Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 4
N.I. Hill Country
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Effective Area
Cash Crop Area
New Grass Area
Total Labour Units
Working Owners
ha
ha
ha
No.
No.
569
6
4
1.84
1.19
633
679
521
588
2
1.87
1.11
4
1.75
1.18
588
2
5
1.84
1.16
588
4
1.81
1.23
548
4
9
1.95
1.11
Open Sheep
Open Cattle
Open Deer
Open Total
Stocking Rate
Sheep:Cattle SU Ratio
SU
SU
SU
SU
SU/ha
%
3,148
1,814
25
4,987
8.8
63.4
3,388
1,795
4,103
1,780
5,183
8.2
65.4
5,883
8.7
69.7
3,163
2,102
88
5,365
9.8
60.1
2,775
2,315
89
5,178
9.9
54.5
3,299
1,965
41
5,308
9.0
62.7
3,177
2,029
33
5,242
8.9
61.0
2,967
2,032
35
5,037
8.6
59.4
Pasture Fertiliser
Crop Fertiliser
Total Fertiliser
Total Fertiliser
Other Fertiliser
tonnes
tonnes
tonnes
kg/ha
$
118.6
4.8
123.4
217
121.5
1.7
123.2
195
1,157
133.7
1.6
135.2
199
265
108.1
8.8
116.9
213
580
89.5
7.2
96.7
186
8,829
113.9
4.9
118.8
202
2,205
110.0
187
3,000
94.0
160
3,000
Pasture N
Pasture P
Pasture K
Pasture S
kg/ha
kg/ha
kg/ha
kg/ha
7.9
17.8
0.2
27.2
6.7
18.7
0.4
27.5
7.9
17.3
0.2
22.1
6.6
13.8
5.7
22.1
10.4
12.7
18.2
7.8
16.2
1.3
23.6
Lime
Lime
Lime
tonnes
kg/ha
kg/SU
27
48.0
5.5
131
207.6
25.3
69
101.2
11.7
37
67.0
6.8
7
13.2
1.3
54
91.7
10.2
45
76.5
8.6
40
68.0
7.9
Ewes mated
Lambs from ewes
Lambs from hgts
All Lambs tailed
Lambing
Hgt lambs % all lambs
No.
No.
No.
No.
%
%
2,451
3,176
29
3,205
129.6
0.9
2,678
3,411
65
3,476
127.4
1.9
3,049
4,216
293
4,509
138.3
6.5
2,421
3,204
318
3,522
132.4
9.0
2,093
2,574
220
2,795
123.0
7.9
2,528
3,298
183
3,481
130.5
5.3
2,436
3,021
164
3,185
124.0
5.1
2,311
2,907
164
3,071
125.8
5.3
Cows + Hfrs mated
Calves marked
Calving
Hinds mated
Fawns marked
Fawning
No.
No.
%
No.
No.
%
147
128
87.2
8
7
85.7
140
123
87.7
133
111
83.9
70
54
77.0
39
24
61.5
63
51
81.8
26
21
79.5
110
93
84.7
15
11
70.5
110
92
83.6
10
8
80.0
106
91
85.8
13
11
84.6
%
%
%
%
%
%
1.3
4.6
1.4
2.9
15.2
2.1
4.9
0.8
1.8
1.7
4.4
1.4
1.4
2.1
4.7
2.2
1.4
2.0
3.5
1.0
1.3
1.8
4.4
1.3
1.7
3.0
5.5
0.6
1.9
3.3
6.2
1.2
1.6
2.0
15.1
8.3
5.0
5.0
kg/ha
kg/ha
kg/ha
kg/ha
kg/ha
91.0
-5.7
48.7
0.5
134.5
91.6
-0.1
49.3
111.9
-3.2
47.4
140.9
156.0
110.1
-2.6
112.8
1.6
222.1
93.3
2.0
94.2
1.1
190.6
99.6
-1.9
69.0
0.6
167.3
kg
kg
kg/head
kg/SSU
kg/ha
kg
kg/ha
c/kg
c/kg
c/SSU
18,166
17,830
5.13
5.66
31.36
19,333
34.0
354.2
149.3
845.7
19,505
17,900
4.86
5.28
28.30
19,682
31.1
363.3
130.2
687.8
21,368
20,822
4.59
5.07
30.65
23,267
34.3
370.9
151.6
769.6
15,936
15,306
4.34
4.84
27.93
17,511
32.0
355.2
167.4
809.8
13,847
13,692
4.42
4.93
26.28
15,091
29.0
380.6
157.4
776.9
17,691
17,034
4.67
5.16
28.97
18,889
32.1
364.3
150.4
776.4
15,908
15,979
4.56
5.03
27.18
15,583
15,583
4.78
5.25
26.50
378.9
149.3
751.1
262.0
147.3
773.8
Lamb Loss
Sheep Loss
Calf Loss
Cattle Loss
Fawn Loss
Deer Loss
Lamb Prodn
Mutton Prodn
Beef Prodn (incl dairy grazing)
Deer Prodn
Total (incl goat)
Wool Sold
Wool Shorn
Wool Shorn
Wool Shorn
Wool Shorn
Wool Prodn (calculated)
Wool Prodn (calculated)
Wool net before freight
Shearing Expenditure
Shearing Expenditure
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 4 N.I. Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 4
N.I. Hill Country
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Sales Prime Lambs
Sales Prime Lambs
Sales Prime Lambs
Sales Prime Lambs
Sales Store Lambs
Sales Store Lambs
Sales All Lambs
Sales All Lambs
No.
$/head
$/kg CW
%
No.
$/head
No.
$/head
1,463
87.56
5.34
68.30
679
65.70
2,142
80.73
1,567
95.49
5.34
63.60
896
73.63
2,463
87.53
2,189
94.19
5.43
71.70
863
77.06
3,052
89.73
2,070
93.31
5.34
84.90
369
66.14
2,439
89.46
1,258
93.97
5.25
64.50
692
72.96
1,950
86.64
1,700
93.02
5.34
70.90
696
71.89
2,396
87.06
1,439
89.69
5.15
64.00
809
73.55
2,248
83.97
1,425
89.48
5.14
68.00
671
69.79
2,096
83.32
Sales Prime Hogget
Sales Prime Hogget
Sales Prime Hogget
Sales Prime Ewes
Sales Prime Ewes
Sales Prime Ewes
No.
$/head
$/kg CW
No.
$/head
$/kg CW
220
109.76
5.86
425
74.76
3.34
168
111.44
5.84
376
80.43
3.12
183
116.25
5.98
659
83.90
3.51
525
117.95
6.11
375
82.08
3.35
434
117.76
5.91
335
75.93
3.07
308
115.80
5.97
430
79.84
3.30
287
107.00
5.52
428
58.09
2.40
263
100.00
5.16
100
75.16
3.11
5
661
4
525
9
596
8
832
2
700
2
660
6
782
2
623
1
550
Sales Calf/Wnr Str Store
Sales Calf/Wnr Str Store
Sales Calf/Wnr Hfr Store
Sales Calf/Wnr Hfr Store
Sales Calf/Wnr Bull Store
Sales Calf/Wnr Bull Store
No.
$/head
No.
$/head
No.
$/head
5
672
8
558
2
701
11
663
4
521
4
775
4
700
6
492
747
7
633
4
509
38
572
Sales 1-1.5 Steer Store
Sales 1-1.5 Steer Store
Sales 1-1.5 Heifer Store
Sales 1-1.5 Heifer Store
Sales 1Yr+ Bulls Store
Sales 1Yr+ Bulls Store
No.
$/head
No.
$/head
No.
$/head
41
1,020
10
706
7
656
12
1,110
8
912
18
1,065
12
829
34
977
17
989
8
833
30
756
10
1,227
5
961
78
1,130
20
1,055
9
832
30
998
16
1,108
11
799
18
911
16
1,028
10
738
21
909
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
1,847
5.92
4
956
4.78
10
1,184
4.99
12
1,630
5.20
29
1,049
4.44
16
1,609
5.25
2
1,056
4.93
9
1,186
5.19
23
1,403
5.22
13
1,036
4.47
80
1,551
5.62
1
1,237
5.59
2
1,181
4.84
8
1,235
5.02
26
1,617
5.22
13
1,016
4.12
126
1,748
5.54
1,298
5.23
3
1,101
4.92
12
1,229
5.15
21
1,593
5.24
21
1,087
4.46
51
1,670
5.53
15
1,206
5.05
21
1,566
5.16
23
998
4.09
32
1,465
4.85
16
1,189
4.98
33
1,535
5.05
22
972
3.99
37
1,475
4.89
Sheep Gross Margin
Cattle Gross Margin
Deer Gross Margin
$/SSU
$/CSU
$/DSU
Gross Farm Revenue
Gross Farm Revenue
Gross Farm Revenue
$
$/ha
$/SU
Wool Revenue
Sheep Revenue
Sheep+Wool Revenue
Cattle Revenue
Dairy Grz Revenue
Deer+Velvet Revenue
$/SSU
$/SSU
$/SSU
$/CSU
$/DzSU
$/DSU
Sales 1-1.5 Strs Prime
Sales 1-1.5 Strs Prime
Sales 1-1.5 Strs Prime
Sales 1-1.5 Hfrs Prime
Sales 1-1.5 Hfrs Prime
Sales 1-1.5 Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Strs Prime
Sales 2Yr+ Strs Prime
Sales 2Yr+ Strs Prime
Sales Prime Cows
Sales Prime Cows
Sales Prime Cows
Sales Prime Bulls
Sales Prime Bulls
Sales Prime Bulls
Total Expenditure
Total Expenditure
Total Expenditure
Total Expenditure
$
$/ha
$/SU
% of GFR
3
1,119
4.93
11
1,323
5.29
34
1,683
5.27
19
1,181
4.64
3
1,951
5.80
2
1,212
4.89
4
1,201
5.07
25
1,218
5.17
10
1,616
5.32
32
1,118
4.48
26
1,661
5.41
69.35
56.79
54.39
75.75
75.62
84.54
65.55
83.82
89.66
44.43
85.65
99.47
-3.16
79.78
78.57
24.77
67.86
56.53
64.06
67.48
62.98
78.11
476,258
837.74
95.49
498,435
787.92
96.17
633,612
932.70
107.70
624,855
1,140.04
116.47
591,119
1,134.59
114.16
563,453
958.12
106.16
453,200
770.75
86.46
444,300
755.61
88.21
18.50
76.06
94.55
79.56
20.00
80.14
100.14
86.73
83.86
23.45
89.39
112.85
81.21
17.84
91.52
109.37
111.05
121.95
71.90
19.32
91.42
110.73
114.55
18.38
19.96
85.62
105.58
95.60
116.30
49.51
19.67
71.29
90.97
75.90
57.78
89.76
14.43
76.41
90.83
82.28
45.96
105.94
302,867
478.77
58.44
60.8
422,509
621.95
71.82
66.7
483,398
881.95
90.10
77.4
368,515
707.32
71.17
62.3
392,394
667.24
73.93
69.6
371,700
632.14
70.91
82.0
357,600
608.16
70.99
80.5
80.87
387,691
681.95
77.74
81.4
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 4 N.I. Hill Country East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 4
N.I. Hill Country
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Wages and Salaries
Animal Health
Weed and Pest
Shearing
Fertiliser
Lime
Seeds
Vehicles & Fuel
Electricity
Feed & Grazing
Cultivation/Sowing
Cash Crop
R&M
Cartage
Administration
Insurance & ACC
Rates
Interest
Rent
Depreciation
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
121.60
39.42
9.69
46.83
106.70
2.84
2.18
33.83
5.74
49.13
9.80
6.85
57.50
6.38
22.46
15.60
19.73
58.77
32.12
34.20
39.06
32.72
7.94
36.84
85.66
18.45
4.32
26.29
5.00
16.59
4.22
53.98
42.10
4.31
46.48
99.39
13.20
1.76
30.12
5.19
19.70
5.05
49.62
40.85
12.43
41.38
97.21
0.66
5.64
32.91
7.57
20.13
11.16
41.96
10.49
21.17
15.52
19.87
54.26
16.75
21.65
77.47
6.54
22.23
10.83
17.86
83.93
49.50
32.30
60.39
46.56
19.14
46.73
130.05
2.21
24.67
47.45
7.50
28.05
25.45
2.29
55.86
9.20
33.15
25.81
22.71
214.52
39.49
40.72
64.47
40.14
10.46
43.56
103.25
7.95
7.47
33.81
6.13
26.49
10.79
1.79
59.35
8.71
25.12
17.18
20.42
113.90
34.17
31.96
63.95
40.51
10.46
40.58
94.90
5.51
7.40
34.44
6.00
27.55
10.47
1.70
52.24
8.62
25.09
17.46
21.04
99.59
34.01
30.61
64.46
39.80
10.66
39.05
77.84
5.03
7.31
34.73
6.07
27.82
10.26
1.36
54.61
8.54
25.34
17.72
21.26
92.92
34.18
29.08
Wages and Salaries
Animal Health
Weed and Pest
Shearing
Fertiliser
Lime
Seeds
Vehicles & Fuel
Electricity
Feed & Grazing
Cultivation/Sowing
Cash Crop
R&M
Cartage
Administration
Insurance & ACC
Rates
Interest
Rent
Depreciation
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
13.86
4.49
1.10
5.34
12.16
0.32
0.25
3.86
0.65
5.60
1.12
0.78
6.55
0.73
2.56
1.78
2.25
6.70
3.66
3.90
4.77
3.99
0.97
4.50
10.46
2.25
0.53
3.21
0.61
2.03
0.52
6.23
4.86
0.50
5.37
11.48
1.52
0.20
3.48
0.60
2.28
0.58
5.12
1.28
2.58
1.89
2.43
6.62
2.04
2.64
7.17
4.54
1.17
4.55
10.64
0.62
0.83
3.86
0.67
3.09
1.17
0.19
5.86
0.97
2.81
1.96
2.36
11.17
3.82
3.43
7.52
4.65
1.24
4.56
9.09
0.59
0.85
4.05
0.71
3.25
1.20
0.16
6.37
1.00
2.96
2.07
2.48
10.85
3.99
3.39
Farm Profit Before Tax
Farm Profit Before Tax
Farm Profit Before Tax
$
$/ha
$/SU
88,566
155.79
17.76
EBITR
EBITR
EBITR
$
$/ha
$/SU
Econ Farm Surplus
Econ Farm Surplus
Econ Farm Surplus
64.91
11.13
27.77
19.29
22.46
175.82
33.98
32.41
8.95
0.76
2.57
1.25
2.06
9.69
5.72
3.73
6.17
4.76
1.96
4.77
13.29
0.23
2.52
4.85
0.77
2.87
2.60
0.23
5.71
0.94
3.39
2.64
2.32
21.92
4.03
4.16
6.53
1.12
2.79
1.94
2.26
17.69
3.42
3.26
7.14
4.45
1.16
4.83
11.44
0.88
0.83
3.75
0.68
2.94
1.20
0.20
6.58
0.97
2.78
1.90
2.26
12.62
3.79
3.54
195,567
309.15
37.73
211,104
310.75
35.88
141,458
258.09
26.37
222,604
427.26
42.99
171,059
290.88
32.23
81,500
138.61
15.55
86,700
147.45
17.21
140,237
246.68
28.12
240,484
380.15
46.40
301,745
444.18
51.29
280,676
512.09
52.32
331,908
637.06
64.10
258,138
438.95
48.63
160,061
272.21
30.53
161,434
274.55
32.05
$
$/ha
$/SU
77,835
136.91
15.61
137,444
217.27
26.52
200,379
294.96
34.06
183,881
335.49
34.27
228,383
438.36
44.10
164,875
280.36
31.06
69,114
117.54
13.18
68,833
117.06
13.67
Total Farm Capital at open
Total Farm Capital at open
Total Farm Capital at open
Total Assets at close
$
$/ha
$/SU
$
4,147,869
7,296
832
4,876,493
4,594,575
7,263
887
5,261,101
5,032,436
7,408
855
5,565,713
4,580,822
8,358
854
5,107,242
4,885,872
9,378
944
5,956,829
4,640,476
7,891
874
5,349,144
4,870,855
8,284
929
5,286,223
4,886,604
8,311
970
5,291,887
Current Liabilities at close
Term Liabilities at close
Reserves at close
Net Worth at close
Equity at close
RoR on TFC at open
$
$
$
$
%
%
114,529
665,387
192,500
3,904,077
80.1
1.9
81,730
403,210
478,595
4,297,566
81.7
3.0
102,188
770,527
737,982
3,955,016
71.1
4.0
128,169
1,584,974
621,426
2,772,672
54.3
4.0
88,517
1,119,530
421,900
4,326,882
72.6
4.7
103,044
911,546
485,430
3,849,125
72.0
3.6
98,000
890,000
474,534
3,823,689
72.3
1.4
120,000
930,000
473,172
3,768,715
71.2
1.4
© B+LNZ Economic Service | P17004
4.99
4.11
1.25
4.16
9.78
0.07
0.57
3.31
0.76
2.03
1.12
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 5 N.I. Intensive Finishing East Coast
Quintile Analysis Ranked by EBITR per hectare
EBITR $/ha
0
GFR $/ha
200
400
600
800
1,000
0
150
3
EFS $/ha
500
1,000
1,500
2,000
-200
0
200
400
600
800
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Lambing %
70
80
Stocking Rate SU/ha
90
100
110
120
130
140
4
5
6
Total Expenditure $/ha
7
8
9
10
11
0
200
400
600
800
1,000
1,200
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Interest $/ha
Fertiliser (on ground) $/ha
0
50
100
150
200
0
R&M $/ha
100
200
300
0
100
0
50
100
150
200
250
Q1 low 2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Forecast 2016-17
Sales All Lambs $/head
50
70
110
0
20
Q1 low 2014-15
P
Q2
2014-15
P
Q3
2014-15
P
Q4
2014-15
P
Q5 high 2014-15
P
Mean
2014-15
P
Prov.
2015-16
P
Forecast 2016-17
P
Term Liabilities $/ha
0
500
1,000
Total Meat Production kg/ha
Sales All Lamb Prime [P] v Store %
90
40
60
80
2,000
2,500
3,000
0
20
40
2014-15
Q3
2014-15
Q4
2014-15
80
Q5 high 2014-15
Mean
2014-15
Prov.
2015-16
Beef
300
Deer
RoR on TFC at open %
60
Q1 low 2014-15
Q2
200
Sheep
Equity at close %
1,500
100
Forecast 2016-17
© B+LNZ Economic Service | P17004
100
-1
0
1
2
3
4
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 5 N.I. Intensive Finishing East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 5
N.I. Intensive Finishing
Unit
Effective Area
Cash Crop Area
New Grass Area
Total Labour Units
Working Owners
ha
ha
ha
No.
No.
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
284
457
276
26
20
1.32
0.93
384
7
12
1.49
0.96
384
9
9
1.59
0.95
391
2
10
1.52
1.00
384
9
11
1.22
0.94
523
7
11
1.81
0.97
Open Sheep
Open Cattle
Open Deer
Open Total
Stocking Rate
Sheep:Cattle SU Ratio
SU
SU
SU
SU
SU/ha
%
1,426
1,415
1,747
3,073
3,197
1,333
2,502
1,651
1,339
1,220
2,008
1,750
1,750
1,309
1,605
1,109
2,850
10.0
50.2
4,820
9.2
36.2
4,541
9.9
70.6
4,153
10.6
60.3
2,559
9.3
52.3
3,763
9.8
53.4
3,063
8.0
57.2
2,719
7.1
59.1
Pasture Fertiliser
Crop Fertiliser
Total Fertiliser
Total Fertiliser
Other Fertiliser
tonnes
tonnes
tonnes
kg/ha
$
80.7
3.0
83.7
295
28.0
3.9
31.9
61
4,802
77.2
7.5
84.7
185
5,438
85.0
10.0
95.0
243
55.9
18.6
74.4
270
65.0
8.6
73.6
192
1,948
60.0
156
2,300
50.0
130
2,000
Pasture N
Pasture P
Pasture K
Pasture S
kg/ha
kg/ha
kg/ha
kg/ha
21.7
17.1
1.0
25.8
1.4
1.4
0.3
7.9
10.0
11.5
1.5
12.3
4.9
23.4
2.3
33.5
25.0
16.3
12.4
28.6
10.5
12.7
2.8
20.0
Lime
Lime
Lime
tonnes
kg/ha
kg/SU
59
206.3
20.6
14
27.3
3.0
57
124.5
12.5
297
758.2
71.4
17
60.6
6.5
90
233.2
23.8
44
114.6
14.4
40
104.2
14.7
Ewes mated
Lambs from ewes
Lambs from hgts
All Lambs tailed
Lambing
Hgt lambs % all lambs
No.
No.
No.
No.
%
%
959
1,256
25
1,280
131.0
1.9
1,079
1,299
75
1,374
120.3
5.5
2,436
3,222
154
3,376
132.3
4.6
1,883
2,689
281
2,970
142.8
9.5
894
1,276
75
1,351
142.7
5.5
1,421
1,911
121
2,032
134.5
5.9
1,256
1,645
68
1,713
131.0
4.0
1,209
1,497
54
1,551
123.8
3.5
Cows + Hfrs mated
Calves marked
Calving
Hinds mated
Fawns marked
Fawning
No.
No.
%
No.
No.
%
28
23
80.2
71
58
81.5
56
48
86.6
15
13
89.2
33
28
83.5
16
14
87.5
17
16
94.1
%
%
%
%
%
%
1.8
3.8
2.3
1.7
1.5
2.7
2.0
2.7
1.5
1.5
5.2
2.1
0.8
1.8
3.6
1.4
1.4
2.0
6.0
1.8
2.1
4.2
1.7
1.1
1.4
1.5
5.8
0.8
1.3
kg/ha
kg/ha
kg/ha
kg/ha
kg/ha
79.6
4.8
98.2
52.2
0.3
90.3
148.9
0.6
71.0
136.2
2.5
99.7
109.8
7.0
123.1
102.8
2.5
94.3
182.6
142.7
220.5
238.4
239.9
199.6
kg
kg
kg/head
kg/SSU
kg/ha
kg
kg/ha
c/kg
c/kg
c/SSU
6,345
6,250
3.87
4.38
22.02
7,250
25.5
352.3
173.1
759.0
7,290
7,176
3.59
4.11
13.73
8,200
15.7
324.5
187.4
770.0
19,711
17,723
5.03
5.54
38.81
19,742
43.2
351.7
188.6
1,045.6
13,367
13,612
4.90
5.44
34.80
15,607
39.9
362.8
137.3
746.9
6,624
6,625
4.33
4.95
24.00
6,731
24.4
348.0
150.0
742.3
10,401
10,058
4.46
5.01
26.19
11,264
29.3
350.3
166.9
836.1
7,962
8,197
4.18
4.68
21.35
7,810
7,810
4.40
4.87
20.34
362.0
181.5
850.0
262.0
145.6
708.5
Lamb Loss
Sheep Loss
Calf Loss
Cattle Loss
Fawn Loss
Deer Loss
Lamb Prodn
Mutton Prodn
Beef Prodn (incl dairy grazing)
Deer Prodn
Total (incl goat)
Wool Sold
Wool Shorn
Wool Shorn
Wool Shorn
Wool Shorn
Wool Prodn (calculated)
Wool Prodn (calculated)
Wool net before freight
Shearing Expenditure
Shearing Expenditure
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 5 N.I. Intensive Finishing East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 5
N.I. Intensive Finishing
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Sales Prime Lambs
Sales Prime Lambs
Sales Prime Lambs
Sales Prime Lambs
Sales Store Lambs
Sales Store Lambs
Sales All Lambs
Sales All Lambs
No.
$/head
$/kg CW
%
No.
$/head
No.
$/head
883
90.57
5.40
75.30
289
74.32
1,171
86.56
936
105.37
5.65
86.30
149
65.85
1,084
99.95
2,986
102.03
5.35
93.90
194
72.13
3,180
101.00
2,281
98.51
5.55
92.90
174
65.73
2,455
96.19
1,537
103.76
5.62
98.80
18
86.71
1,556
103.56
1,687
100.52
5.49
91.10
164
70.69
1,851
98.12
1,377
92.00
5.03
90.50
145
69.00
1,522
89.87
1,408
95.07
5.19
94.00
90
72.26
1,498
94.03
Sales Prime Hogget
Sales Prime Hogget
Sales Prime Hogget
Sales Prime Ewes
Sales Prime Ewes
Sales Prime Ewes
No.
$/head
$/kg CW
No.
$/head
$/kg CW
716
122.48
6.22
157
78.17
3.45
670
126.41
6.04
96
92.99
5.26
407
115.08
6.01
375
89.12
3.31
393
120.38
6.04
406
83.60
3.91
682
127.42
6.12
284
100.73
3.65
578
123.41
6.10
260
88.89
3.70
551
100.00
4.95
141
68.00
2.83
355
110.00
5.44
148
76.63
3.19
1
659
2
695
10
668
542
5
606
2
610
2
580
3
967
2
856
21
980
10
1,216
10
855
21
951
8
1,033
2
1,033
19
887
16
1,031
4.10
14
1,622
5.29
12
1,144
4.55
105
1,567
5.28
12
1,252
4.98
2
1,565
5.10
8
1,200
4.78
92
1,510
5.09
Sales Calf/Wnr Str Store
Sales Calf/Wnr Str Store
Sales Calf/Wnr Hfr Store
Sales Calf/Wnr Hfr Store
Sales Calf/Wnr Bull Store
Sales Calf/Wnr Bull Store
No.
$/head
No.
$/head
No.
$/head
3
658
Sales 1-1.5 Steer Store
Sales 1-1.5 Steer Store
Sales 1-1.5 Heifer Store
Sales 1-1.5 Heifer Store
Sales 1Yr+ Bulls Store
Sales 1Yr+ Bulls Store
No.
$/head
No.
$/head
No.
$/head
4
720
4
631
48
871
Sales 1-1.5 Strs Prime
Sales 1-1.5 Strs Prime
Sales 1-1.5 Strs Prime
Sales 1-1.5 Hfrs Prime
Sales 1-1.5 Hfrs Prime
Sales 1-1.5 Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Hfrs Prime
Sales 2Yr+ Strs Prime
Sales 2Yr+ Strs Prime
Sales 2Yr+ Strs Prime
Sales Prime Cows
Sales Prime Cows
Sales Prime Cows
Sales Prime Bulls
Sales Prime Bulls
Sales Prime Bulls
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
No.
$/head
$/kg CW
651
2
526
17
617
1
485
6
595
1
840
9
1,495
9
1,072
1
708
5
1,009
3
1,044
5
1,060
7
485
16
1,343
5.30
16
1,766
5.27
4
1,252
4.53
93
1,596
5.64
11
1,599
5.85
45
1,624
5.33
21
1,115
4.45
98
1,725
5.57
990
4.55
15
932
4.71
25
1,220
5.14
18
1,618
5.55
5
1,073
4.37
67
1,444
5.23
1
1,137
4.74
23
1,153
5.19
23
1,291
5.09
19
1,573
5.24
2
1,112
4.92
127
1,594
5.51
1
1,314
5.40
23
1,239
5.08
4
1,211
4.85
7
1,529
5.01
120
1,813
5.74
1,213
5.06
12
1,140
5.05
16
1,322
5.26
21
1,629
5.31
6
1,125
4.47
102
1,656
5.58
82.64
89.66
73.44
-3.42
96.88
99.88
107.70
83.48
136.27
139.48
98.76
63.03
79.14
90.15
83.34
98.35
311,599
1,097.73
109.33
462,867
885.75
96.02
541,025
1,184.73
119.13
530,709
1,356.82
127.78
498,308
1,805.46
194.71
466,780
1,215.67
124.06
346,300
901.82
113.06
325,300
847.14
119.64
550
33
1,106
Sheep Gross Margin
Cattle Gross Margin
Deer Gross Margin
$/SSU
$/CSU
$/DSU
Gross Farm Revenue
Gross Farm Revenue
Gross Farm Revenue
$
$/ha
$/SU
Wool Revenue
Sheep Revenue
Sheep+Wool Revenue
Cattle Revenue
Dairy Grz Revenue
Deer+Velvet Revenue
$/SSU
$/SSU
$/SSU
$/CSU
$/DzSU
$/DSU
16.01
92.72
108.73
108.29
14.38
102.58
116.95
66.50
62.53
19.53
102.89
122.42
105.18
67.70
20.15
111.53
131.67
109.85
17.23
144.49
161.72
154.33
17.94
109.27
127.21
99.70
66.75
16.46
83.66
100.11
108.64
58.33
13.08
90.34
103.43
118.73
57.78
$
$/ha
$/SU
% of GFR
271,976
958.14
95.43
87.3
406,664
778.20
84.37
87.9
389,722
853.41
85.81
72.0
339,894
868.98
81.84
64.0
269,179
975.29
105.18
54.0
333,892
869.58
88.74
71.5
305,000
794.27
99.58
88.1
293,300
763.80
107.87
90.2
Total Expenditure
Total Expenditure
Total Expenditure
Total Expenditure
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Economic Service: Sheep and Beef Farm Survey Analysis
Based on 2014-15 Survey, Class 5 N.I. Intensive Finishing East Coast
Quintile Analysis Ranked by EBITR per hectare
Class 5
N.I. Intensive Finishing
Unit
Q1 low
2014-15
Q2
2014-15
Q3
2014-15
Q4
2014-15
Q5 high
2014-15
Mean
2014-15
Prov.
2015-16
Forecast
2016-17
Wages and Salaries
Animal Health
Weed and Pest
Shearing
Fertiliser
Lime
Seeds
Vehicles & Fuel
Electricity
Feed & Grazing
Cultivation/Sowing
Cash Crop
R&M
Cartage
Administration
Insurance & ACC
Rates
Interest
Rent
Depreciation
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
$/ha
86.82
50.57
21.00
38.12
157.49
11.03
16.92
44.44
9.19
28.08
29.92
76.00
26.92
16.06
25.74
36.72
0.12
8.57
29.94
12.29
12.96
14.76
1.37
48.79
11.55
36.56
29.20
31.24
241.53
46.58
71.30
65.36
44.19
16.50
73.21
102.64
6.05
13.41
38.18
6.81
17.30
15.38
71.25
42.82
17.38
47.78
105.17
28.88
8.57
52.25
13.28
36.91
16.46
5.63
56.19
15.16
40.05
24.24
35.76
178.52
26.54
46.15
67.33
47.17
41.28
36.01
135.83
2.46
32.57
82.70
10.26
45.80
10.49
31.83
82.85
32.84
44.96
26.41
43.78
105.74
13.94
81.04
73.13
40.47
20.91
43.73
97.96
9.40
14.40
46.36
10.58
26.06
16.92
6.27
83.48
19.70
37.40
25.73
36.22
160.59
40.96
59.28
72.53
37.66
20.83
38.74
80.21
5.16
14.27
46.74
10.78
25.53
16.41
6.28
73.46
19.51
37.40
26.12
37.30
132.31
40.95
52.08
73.22
32.31
21.25
29.61
65.10
4.58
14.13
47.15
10.99
25.03
16.08
6.38
76.80
19.69
37.50
26.51
38.42
127.39
40.96
50.78
Wages and Salaries
Animal Health
Weed and Pest
Shearing
Fertiliser
Lime
Seeds
Vehicles & Fuel
Electricity
Feed & Grazing
Cultivation/Sowing
Cash Crop
R&M
Cartage
Administration
Insurance & ACC
Rates
Interest
Rent
Depreciation
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
$/SU
8.65
5.04
2.09
3.80
15.69
1.10
1.68
4.43
0.92
2.80
2.98
6.57
4.44
1.66
7.36
10.32
0.61
1.35
3.84
0.68
1.74
1.55
21.84
2.62
3.38
2.65
3.62
7.43
1.43
3.30
8.24
2.92
1.74
2.79
3.98
0.01
0.93
3.25
1.33
1.41
1.60
0.15
5.29
1.25
3.96
3.17
3.39
26.19
5.05
7.73
5.93
2.12
3.33
2.16
3.81
13.64
8.67
6.03
6.71
4.03
1.64
4.50
9.90
2.72
0.81
4.92
1.25
3.48
1.55
0.53
5.29
1.43
3.77
2.28
3.37
16.81
2.50
4.35
7.26
5.09
4.45
3.88
14.65
0.27
3.51
8.92
1.11
4.94
1.13
3.43
8.93
3.54
4.85
2.85
4.72
11.40
1.50
8.74
7.46
4.13
2.13
4.46
10.00
0.96
1.47
4.73
1.08
2.66
1.73
0.64
8.52
2.01
3.82
2.63
3.70
16.39
4.18
6.05
9.09
4.72
2.61
4.86
10.06
0.65
1.79
5.86
1.35
3.20
2.06
0.79
9.21
2.45
4.69
3.27
4.68
16.59
5.13
6.53
10.34
4.56
3.00
4.18
9.19
0.65
2.00
6.66
1.55
3.53
2.27
0.90
10.85
2.78
5.30
3.74
5.43
17.99
5.79
7.17
Farm Profit Before Tax
Farm Profit Before Tax
Farm Profit Before Tax
$
$/ha
$/SU
39,624
139.59
13.90
56,203
107.55
11.66
151,304
331.32
33.32
190,816
487.84
45.95
229,128
830.17
89.53
132,889
346.09
35.32
41,300
107.55
13.48
32,000
83.33
11.77
EBITR
EBITR
EBITR
$
$/ha
$/SU
64,876
228.55
22.76
206,765
395.67
42.89
252,613
553.17
55.62
271,021
692.90
65.26
262,159
949.85
102.43
210,277
547.64
55.89
107,833
280.82
35.21
96,646
251.68
35.54
Econ Farm Surplus
Econ Farm Surplus
Econ Farm Surplus
$
$/ha
$/SU
-3,087
-10.88
-1.08
98,023
187.58
20.34
150,785
330.19
33.20
173,675
444.02
41.82
173,602
628.99
67.83
117,653
306.41
31.27
12,824
33.40
4.19
1,360
3.54
0.50
Total Farm Capital at open
Total Farm Capital at open
Total Farm Capital at open
Total Assets at close
$
$/ha
$/SU
$
3,463,815
12,203
1,215
3,998,676
6,374,836
12,199
1,323
7,228,179
5,819,126
12,743
1,281
6,548,650
5,122,334
13,096
1,233
5,591,010
4,567,870
16,550
1,785
5,197,112
5,047,551
13,146
1,341
5,688,139
5,302,768
13,809
1,731
5,499,675
5,197,012
13,534
1,911
5,561,479
Current Liabilities at close
Term Liabilities at close
Reserves at close
Net Worth at close
Equity at close
RoR on TFC at open
$
$
$
$
%
%
80,605
318,732
386,429
3,212,910
80.3
-0.1
345,926
1,416,247
696,534
4,769,472
66.0
1.5
174,320
1,153,721
1,845,699
3,374,911
51.5
2.6
84,916
859,937
690,714
3,955,442
70.7
3.4
91,315
275,519
489,286
4,340,993
83.5
3.8
154,861
794,570
791,616
3,947,094
69.4
2.3
106,000
730,000
789,573
3,874,102
70.4
0.2
180,000
830,000
789,573
3,761,906
67.6
219.32
26.32
33.92
26.59
36.34
74.64
14.32
33.11
59.00
21.05
33.08
21.48
37.92
135.60
86.25
60.01
© B+LNZ Economic Service | P17004
Sheep and Beef Farm Survey Production Regions
100 NorthlandWaikato-BoP
Far North
Whangarei
Kaipara
Auckland
Thames-Coromandel
Hauraki
Waikato
Matamata-Piako
Hamilton City
Waipa
Otorohanga
South Waikato
Waitomo
Taupo
Western Bay of Plenty
Tauranga
300 TaranakiManawatu
New Plymouth
Stratford
South Taranaki
Wanganui
Rangitikei
Manawatu
Palmerston North
Rotorua
Whakatane
Kawerau
Opotiki
Ruapehu
100
Horowhenua
Kapiti Coast
Porirua City
Upper Hutt City
Hutt City
Wellington City
200
300
200 East Coast
Gisborne
Wairoa
Hastings
Napier City
Central Hawke's Bay
Tararua
Masterton
Carterton
South Wairarapa
400
400 Marlborough-Canterbury
Tasman
Nelson City
Marlborough
Kaikoura
Hurunui
Waimakariri
Christchurch City
Selwyn
Ashburton
Timaru
Mackenzie
Waimate
Waitaki
500
500 Otago-Southland
Central Otago
Queenstown-Lakes
Dunedin City
Clutha
Southland
Gore
Invercargill City
© B+LNZ Economic Service | P17004
Beef + Lamb New Zealand Regional Contacts
Northern North Island
Eastern North Island
Western North Island
Chairman and Director
James Parsons
09 438 8563 M 021 206 3208
Director
George Tatham
06 372 3609 M 027 244 4900
Director
Kirsten Bryant
06 342 7755 M 027 275 1690
[email protected]
[email protected]
[email protected]
Economic Service Managers
Dot Larsen
07 839 4260 M 027 555 9127
Economic Service Manager
Stephen Lys
06 870 3496 M 027 248 3521
Economic Service Supervisor
Tim Hembrow
06 323 0508 M 027 333 6289
[email protected]
[email protected]
[email protected]
Extension Managers
Mark Harris
06 870 3495 M 027 577 9991
Economic Service Officer
Michael Flett
03 323 3168 M 027 839 6365
[email protected]
[email protected]
Lauren Cameron
06 370 2389 M 027 431 7626
Extension Manager
Jason Griffin
06 324 0390 M 027 431 0225
Sam Stewart
07 839 4261 M 027 454 8878
[email protected]
Extension Managers
Andrew Jolly
07 839 0286 M 027 556 8836
[email protected]
Alison Whiteford
09 438 0672 M 027 489 7343
[email protected]
[email protected]
[email protected]
Northern South Island
Central South Island
Southern South Island
Director
Phil Smith
03 315 8677 M 027 222 7927
Director
Bill Wright
03 614 3751
Director
Andrew Morrison
03 207 1856 M 027 664 4620
[email protected]
[email protected]
[email protected]
Economic Service Manager
Pending appointment
Economic Service Manager
Hannah Gibson
03 357 0696 M 027 431 2583
Economic Service Manager
Jenny McGimpsey
03 204 0859 M 027 458 8067
[email protected]
[email protected]
Extension Manager
Sarah O'Connell
03 357 0693 M 027 496 8496
Senior Extension Manager
Aaron Meikle
03 433 1392 M 027 498 9703
Extension Manager
Olivia Ross
03 208 4144 M 027 801 7868
[email protected]
[email protected]
[email protected]
Environmental Data Analyst
Carly Sluys
03 357 0695 M 027 572 7614
National Extension Manager
Paul McCauley
03 448 9176 M 007 522 3499
Extension Officer
Laura Gray
03 448 9180 M 027 553 1226
[email protected]
[email protected]
[email protected]
Chief Economist
Andrew Burtt
04 474 0842 M 027 652 9543
Executive Director
Rob Davison
04 471 6034
Senior Agricultural Analyst
Rob Gibson
04 471 6037
[email protected]
[email protected]
[email protected]
Database Administrator
Loma Finch
04 474 0830
Senior Agricultural Analyst
Ben Hancock
04 494 9508
Senior Analyst Information Systems
Brian Speirs
04 474 0846
[email protected]
[email protected]
[email protected]
Wellington Economic Service
0800 BEEFLAMB (0800 233 352) | WWW.BEEFLAMBNZ.COM
BY FARMERS. FOR FARMERS