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For agricultural business Landmark, the major shift it has seen over the last 12 months is in the way livestock is fed, according to branch manager for Goulburn, Crookwell and Moss Vale Dave Noble.
"For a start there has been a large amount of grain and pelletised feeds brought into the district. The addition of high protein, high energy, starch-based feed has made managing breeding stock condition much more manageable in times of feed deficit," he added.
"Secondly, there has been a trend towards sowing more annual and short-term crops and pastures with less investment in long term permanent pasture. Annual crops such as winter cereals, canola, and ryegrasses have been responding far better to the little rainfall we have had than our run-down permanent pastures."
Looking forward he indicated he "would expect to see the investment in long term pastures come back when the season turns. I think that many graziers have seen the benefits of supplementary feeding livestock, even when they are on crops or pastures. While ever sheep, lamb and wool commodities remain buoyant I would expect this practice to continue. If managed well, the return on investment in feeding sheep is there.
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"Livestock numbers are back on a national level while demand, locally and internationally, for Australian meat based proteins is strong. This all points to a good outcome for those who have held onto stock once widespread rainfall is received on the eastern seaboard."
Meanwhile, Mr Noble's tips were to "get close to your accountant early this financial year. Understand your tax position and have a plan to minimise your taxable income should you have a tax liability. Landmark Pre-Pay Plus may have a fit for your situation.
"Get in touch with the NSW Rural Assistance Authority. There are subsidies, loans and rebates available for expenses relating to feed supply, drought infrastructure, livestock transport and water infrastructure projects. It's important not to self-assess your potential eligibility for such programs.
"Talk to your agronomist about feed budgeting this winter. It's important to assess your feed situation now."
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