Molesworth has record trading year

Press, 2 October 1979, Page 26

Molesworth has record trading year

PA Blenheim Molesworth Station, the Lands and Survey Departmen t ’ s half-million-acre cattle spread in Marlborough's hinterland, has had a

record trading year. From a gross loss for the lyear ended June, 1978. of !$34,760, the profit at the end | of June this . year was $283,177 — the highest yet. The steep rise in cattle sales is the main reason. The annual consignment sold at Addington this year averaged $324, compared withi $l2B last year, and $9O in 1975 when the trading year showed the only other loss since the station became debt-free in 1966. Accumulated profit is now $1.54M, and the accumulated cash surplus is $728,530. Cattle sales this year yielded $548,862 (2302 head, of which 1143 M'ere steers), while the profit from cattle sales was a record $519,742. Major items of expenditure were: fertiliser (mostly Superphosphate)$41,342, weed control

$31,105, rabbiting $23,421, staff $76,400, and freight (mostly stock) $12,977. It drew subsidies on weed control, rabbiting ($11,71.), and claimed the Government livestock payments ($18,913). financial assistance payable to all farmers.

The station carried 9125 head of cattle at the start of the year and finished with 8955.

The current market value of stock is $1.75M, while estimated land improvements and livestock value is ;$2.83M. The station’s fortunes have flourished most years since 1966, though a profit of $116,000 in 1974 was followed by a loss of $54,280 the next year. Linked with the profit level has been the average I price for the annual draft cattle. This year’s $324.16 is nearly double' that of the previous best ($lB6 in 1973), but market trends are seen in the averages for other years — $9O in 1975, $9O in 1967, and $67 in 1962.