This episode featured in partnership with Carrfields Livestock.

Carrfields One Stock livestock finance now covers farmers from Cape Reinga to Bluff, says Andrew Brown, General Manager of Carrfields Financial Services.

Brown has more than 30 years’ experience across banking, insurance and finance and says the service has grown year on year since 2020.

“We realised that times were changing and our farmer customers, as well as our own livestock agents, really needed some more support around financial services and the funding of livestock,” he says.

He says the sector knows the red meat market is hot right now.

“The values are increasing rapidly, which means that our farming customers really need some additional working capital.” 

He says farmers should talk to their banks first, but quite often they cannot get that capital from their main trading banks.

Brown says Carrfields traditionally uses three products, starting with trading stock, a drawdown on a line of stock generally repaid in one lump sum within 12 months. He says capital stock is a longer-term contract repaid as principal and interest over up to five years. The spring bull plan rents the services of a bull while it is needed.

He says a good livestock finance product needs to be simple to use, flexible and transparent.

“Interest rates are disclosed upfront so everybody knows exactly where they stand at the beginning of the contract.

“The security’s taken solely over the stock, nothing else.”

Farmers should look at available working capital, how the farm has performed and whether it needs to pivot into a different stock line.

“They need to take the best advice early and set the plan before they jump in and buy stock that may not be right for their property.

“The big one is ensuring that they use the right type of facility, and that’s why I say we need to talk early.” 

He says buying capital stock and putting it on a trading facility becomes a more expensive exercise.

“When you are looking to do some funding, talk to us early, talk to the agent early, and make sure that we get the right product put in place right from the beginning.”

This episode featured in partnership with Carrfields Livestock. Farmers wanting to know more about One Stock livestock finance should get in touch with their local Carrfields livestock team or Carrfields Financial Services, or visit carrfields.co.nz. 

CountryWide CONNECT with Andy Thompson & Sarah Perriam-Lampp is our daily rural show livestreamed from 11am-1pm. Visit country-wide.co.nz on how to watch/listen or download the CountryWide CONNECT mobile app, available on Apple iOS and Android.

CountryWide CONNECT with Andy Thompson & Sarah Perriam-Lampp is our daily rural show livestreamed from 11am-1pm. Visit country-wide.co.nz on how to watch/listen or download the CountryWide CONNECT mobile app, available on Apple iOS and Android.