Sheep grazing capacities over 15 years from two long-running high country trials in a moderate rainfall zone and under 30 different annual sulphur and phosphorus fertiliser combinations are presented. With time, the sheep grazing capacities became increasingly related to the rate of S fertiliser input, and largely independent of P fertiliser rate. The implication for grazing capacity, fertiliser purchase, transport and spreading costs is the very large cost benefit that could accrue from further development of methods for handling and spreading elemental S fertiliser. Keywords: fertiliser, grazing, high country, phosphorus, sulphur