Just released are the Herd Values at 30 April. A snapshot is taken throughout New Zealand and across various markets to determine the values to be used for tax purposes each year.
When you are in the herd schemes, increases in values are not taxable and decreases are not deductible.
Sheep : After decreases across the board for 2023, and continued reduced returns in all classes this year, this has been reflected in the Herd Values with decrease on average of 25% from 2023. Please see the below summary of the herd values in comparison to previous years and their movements.
Sheep | 2021 | 2022 | 2023 | 2024 |
Ewe Hoggets | $123 | $143 | $136 | $101 |
2th Ewes | $191 | $224 | $205 | $159 |
MA Ewes | $174 | $202 | $177 | $134 |
5yr Old Ewes | $153 | $176 | $144 | $106 |
Beef Cattle : Following 3 years of good increases, and while still seeing good returns in comparison to sheep and a positive outlook for the Spring, there has been a softening of values with a decrease across the board by 6.5%. A couple of the movements are:
Beef | 2021 | 2022 | 2023 | 2024 |
MA Cows | $1,138 | $1,328 | $1,334 | $1,304 |
R2 Heifers | $911 | $1,038 | $1,153 | $1,145 |
R1 Bulls / Steers | $716 | $808 | $920 | $855 |
R2 Bulls / Steers | $1,088 | $1,242 | $1,353 | $1,292 |
Dairy : Slight downward movement across the female classes, and slight increases in male cattle classes, with the exception of R3 & older steers/bulls which went down by $25 per head.
Dairy | 2021 | 2022 | 2023 | 2024 |
MA Cows | $1,528 | $1,697 | $1,628 | $1,609 |
R2 Heifer | $1,291 | $1,472 | $1,436 | $1,433 |
R1 Heifer | $707 | $809 | $693 | $676 |
Red Deer : With good returns from venison and stable velvet receipts, there has been an increase across all classes, ranging between 6% to 28% lift in values. The biggest movement has been in R1 Hinds with an increase of 28%, followed by R2 Stags at 17%. Deer are nearing the highest they have been since 2019, and have recovered well since the impact from Covid.
Red Deer | 2021 | 2022 | 2023 | 2024 |
R1 Hinds | $174 | $189 | $219 | $282 |
MA Hinds | $349 | $379 | $440 | $510 |
R1 Stags | $212 | $242 | $273 | $302 |
R2 Stags | $420 | $475 | $595 | $697 |
This is an overview of the changes. As always we are available to talk in more detail about how this impacts your farming figures. Full information is available from IRD here.
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