MLC costings will be benefit
MLC costings will be benefit
LIVESTOCK producers are set to benefit from a new costings initiative from the Meat and Livestock Commission.
Previously, the organisation provided data focusing on variable costs and enterprise gross margins, but this will now be extended to include the entire range of fixed costs to give the total on-farm cost of producing 1kg of beef or lamb.
Information will be collected by consultancy firm Promar International and the first figures should be available in 12 months time, says MLC beef economist Duncan Sinclair. He reckons the extra data will enable farmers to benchmark their businesses.
Matt Sheehan, director of Promars farms and rural division, adds: "The comparative data produced will focus farmers on areas of their farm where improvements can be made and thereby promote the best solutions for individual businesses. This will lead to more efficient farming and improved profits." *