Murray Goulburn Co-operative Co. Limited (Devondale Murray Goulburn) today announced a $5 million partnership with CowBank that will further strengthen its support of young farmers entering the dairy industry. ‘Next Generation Herd Start’ is an innovative program designed to assist dairy farmers to establish a commercial dairy herd even if they have limited capital.
Next Generation Herd Start allows young farmers to lease-purchase a herd from CowBank with support from Devondale Murray Goulburn. The program will be of benefit to young dairy farmers who have the skills, drive and passion to build a dairy farming operation but may not have the financial means.
Devondale Murray Goulburn’s Executive General Manager Shareholder Relations, Robert Poole, said the development of Herd Start is representative of the company’s commitment to supporting the next generation of Australian dairy farmers.
"Devondale Murray Goulburn is passionate about supporting Australian farmers to grow their milk production," Robert said. "Growth in milk production supports the Australian dairy industry and helps our co-operative to deliver on our strategy of increased farmgate prices."
"We are often asked how young farmers can get their start in a dairy business. To support the next generation of dairy farmers, we are partnering with CowBank to provide talented and passionate dairy farmers with an opportunity to grow their herd and establish their own dairy business even if they have limited capital," he continued. "We believe in Australian dairy farmers and that’s why we’re looking to support standout performers with this exciting industry pathway."
CowBank Managing Director, Rod Banks, said the initiative will benefit young farmers who may not have the capacity to receive herd finance due to lack of equity.
"CowBank is very proud to be partnering with Devondale Murray Goulburn in this Australian first which creates an achievable route to dairy business ownership," Rod said.
As part of a pilot program, Devondale Murray Goulburn will support between 12 and 15 Herd Start farmers during the next year. Those interested are encouraged to speak with a member of the Devondale Murray Goulburn Field Services team or contact CowBank.
Subject to the success of the pilot program, Devondale Murray Goulburn and CowBank expect to provide the Herd Start program as an ongoing opportunity for talented and motivated farmers to progress to dairy business ownership.
The Next Generation Herd Start program forms part of Devondale Murray Goulburn’s broader Next Generation suite of initiatives designed to support its supplier-shareholder’s business growth. Further details about Herd Start are available by clicking here.
Media contact: Tim Muir, Communications Manager, +61 447 500 422