Sheep & Beef Capital Structure
Table : Capital Structure Of Sheep and Beef Farms (All Classes Average)
| 88/89 | 89/90 | 90/91 | 91/92 | 92/93 | 93/94 | 94/95 | 95/96 | 96/97 | 97/98e | |
|---|---|---|---|---|---|---|---|---|---|---|
| Number farms surveyed | 535 | 520 | 535 | 532 | 539 | 542 | 547 | 548 | 544 | |
| Effective area, ha | 485 | 487 | 514 | 516 | 514 | 538 | 560 | 555 | 550 | 550 |
| Total Opening Stock Units | 3314 | 3155 | 3417 | 3461 | 3428 | 3430 | 3667 | 3,772 | 3753 | 3723 |
| Stock units per Hectare | 6.8 | 6.5 | 6.6 | 6.7 | 6.7 | 6.4 | 6.5 | 6.8 | 6.8 | |
| Assets: $ | ||||||||||
| Capital value * | 445,463 | 531,056 | 519,093 | 594,851 | 744,880 | 942,443 | 1,056,865 | 1,040,084 | 1,014,152 | 1,015,000 |
| Truck and tractor | 15,438 | 17,479 | 18,338 | 18,975 | 20,509 | 23,469 | 27,386 | 28,054 | 29,922 | |
| Other plant and machinery | 11,825 | 12,844 | 13,240 | 13,582 | 14,864 | 15,900 | 16,782 | 19,958 | 21,532 | |
| Sheep at market value | 59,454 | 87,649 | 83,356 | 90,985 | 133,677 | 123,463 | 86,539 | 117,385 | 159,211 | |
| Cattle at market value | 58,781 | 79,496 | 86,839 | 96,973 | 112,324 | 108,788 | 77,094 | 67,550 | 81,422 | |
| Deer at market value | 4,893 | 6,355 | 4,197 | 4,968 | 7,051 | 6,929 | 8,454 | 13,353 | 12,756 | |
| Goats at market value | 368 | 294 | 154 | 136 | 110 | 117 | 141 | 73 | 98 | |
| Investments off-farm (@ book value) | 22,522 | 22,222 | 21,853 | 21,165 | 28,841 | 33,832 | 33,594 | 40,608 | 47,860 | |
| Other assets, incl. value of homestead | 108,619 | 116,658 | 121,305 | 133,376 | 149,102 | 161,801 | 167,848 | 178,299 | 185,850 | |
| Total Assets/total farm capital | 727,363 | 874,053 | 868,375 | 975,011 | 1,211,058 | 1,416,742 | 1,474,703 | 1,505,364 | 1,552,803 | 1,539,900 |
| Liabilities $ | ||||||||||
| Current Liabilities | 37,747 | 37,432 | 39,780 | 39,435 | 42,718 | 46,950 | 54,824 | 54,352 | 54295 | |
| Term Liabilities | 141,554 | 144,263 | 150,228 | 152,002 | 150,878 | 155,408 | 170,343 | 195,916 | 195,616 | |
| Reserves** | 1,923 | 1,440 | 4,159 | 6,583 | 11,109 | 23,806 | 42,198 | 51,868 | 55,245 | |
| Total Liabilities | 181,224 | 183,135 | 194,167 | 198,020 | 204,705 | 226,164 | 267,365 | 302,136 | 305,156 | 304,000 |
| Owners Equity/net worth $ | 546,139 | 690,918 | 674,208 | 776,991 | 1,006,353 | 1,190,578 | 1,210,338 | 1,203,228 | 1,247,647 | 1,235,900 |
| Total Liabilities as % of Assets | 24.9 | 20.9 | 22.4 | 20.3 | 16.9 | 16.0 | 17.9 | 20.1 | 19.7 | 19.7 |
| Equity as % of Assets | 75.1 | 79.1 | 77.6 | 79.7 | 83.1 | 84.0 | 82.1 | 79.9 | 80.3 | 80.3 |
| Note: | ||||||||||
| e MWESNZ estimate | ||||||||||
| * Capital Value excludes homestead, which is included under "other assets" | ||||||||||
| ** Offset for land/livestock not owned by farm but included under assets | ||||||||||
| Meat and Wool Economic Service of NZ | ||||||||||
| Comments | ||||||||||
| 1 The average size and stock carrying capacity of sheep and beef farms is rising. Such farms are 14.4% larger today than in 1988. | ||||||||||
| 2 While the average farm capital has climbed by 107% from 1988/89 to 1995/96 the average owners equity has risen by 120%. | ||||||||||
| 3 At around 80%, owner equity as a percentage of total assets is still above the levels of the mid-late 1980s. This does not include recent drought effects. | ||||||||||
Contact for Enquiries
Manager
Monitoring and Evaluation
MAF Policy
PO Box 2526
Wellington
NEW ZEALAND
Phone: +64 4 894 0623
Fax: +64 4 894 0741
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