Finance groups have faith

14 Sep, 2005 08:45 PM
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THE dairy industry earns the highest gross income per hectare than any other broadacre livestock industry, according to Landmark rural finance manager Rob McNab.

Landmark was one of three financial organisations exhibiting at the Farmwest Dairy Discovery.

Although milk prices and increasing costs had forced a lot of WA dairy farmers to get out of the industry, Mr McNab said Landmark had confidence in the WA dairy industry's future.

"I know people suffer, but we're keen to lend to dairy farmers because we have confidence in the industry," Mr McNab said.

He said it was tough in a lot of rural sectors at the moment.

Not even beef made half the profit per hectare as dairy, Mr McNab said.

Rabobank senior rural manager Joe Musitano said the bank was still writing new business in the dairy sector.

"Lots of people are at crossroads at the moment," Mr Musitano said.

"They have either made the decision to stay in for the long haul and make further investments in the industry, or are holding off to see how things pan out."

Mr Musitano said dairy farmers were looking for direction from the processing sector.

"Before dairy farmers invest further in the industry, they want some direction from the processors," he said.

Mr Musitano said there was a shortage of skilled workers in the dairy industry, which was a problem for the sector.

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