Farm monitoring to futures contracts: The Hannas' experience

Abstract

Being part of a group farm monitoring project and then a farm systems study has enabled the Hannas to develop their farm business to where they can supply livestock to meat processors under futures contract arrangements. The recognition and development of farm-monitoring protocols has enabled them to identify key weight and weight gain targets. A database of weights, pasture growth and pasture cover information has enabled them to predict numbers, weights and supply times. The result of this farm monitoring has been a 35% increase in productivity over the past 5 years. Lambing % has increased from 112 to 146% survival to sale. Bull beef cattle numbers have increased by 430% as the area suitable for running them has been fenced and developed. The Hannas have classified their land into capability units and farm these units accordingly. They recognise the strong link between farming profitably and sustainably and believe that the demonstration of sustainable farming practices will be a requirement to enter into high value markets in the future. Winning of the supreme Waikato Farm Environment award in 1999 was a reflection of this philosophy. Keywords: bull beef, futures contracts, monitor farm, sustainability