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<P>Sonya Hanratty wrote:
<BLOCKQUOTE TYPE=CITE> <FONT COLOR="#000000"><FONT SIZE=-1>For the
past 12 months my husband & I have been looking at buying a dairy farm
in Northern Victoria.We have made submissions to Rural Finance (aagh),
Commonwealth, Westpac & Elders Rural Finance.Despite the fact that
we would own 150 cows and 50 A.I Replacements and all our plant & equipment
& have about $50,000 in cash, none of them will look at us for a farm
costing $340,000, even with COS of $40,000+ per year!We wonder how any
young people will ever be able to buy a farm if we cant get in with what
we have. They all want you to have 50% + equity and Flinders St station
as security or Kerry Packer for your parents.It is a sad day for us as
we see the past 10 years of work seen as worthless.We are going to relinquish
dairying as we do not want to stay on the sharefarming merry go round.My
advice to young people who have farm ownership in their sites is to steer
clear of buying cows and machinery and to buy some units on the coast as
trying to borrow against cows is hopeless, at best they will lend you 50%
of the value and one bank only lends on income producing stock, hence the
A.I heifers that everyone else in the industry tells you are your most
valuable asset are not counted, nor are and yearlings or stud bulls!!The
banks are really very far removed from farming reality and the shane is
that the person who comes to assess your proposal is about 100 miles away
from the decision makers who are nameless, faceless people who never have
to ring someone to tell them they are unsuccessful, it stinks!Since the
demise of CDB there is no one willing to lend on a cash flow basis and
as for Rural Finance, they are a farce.What are any of the industry bodies
doing to stem this kind of attitude the banks show? If no one stands up
an complains there will be no young people in the dairy industry and the
average age of farmers will not be 50+, it will be 80+ as no one will be
able to sell their farms.</FONT></FONT> <FONT COLOR="#000000"><FONT SIZE=-1>Regards
Sonya Hanratty</FONT></FONT></BLOCKQUOTE>
Dear Sonya,
<BR>I've been sitting quietly on the side-lines following every e-mail
from the group thinking yeah....... that's right I use any old mastitis
or drycow tubes around for pink eye treatment looks a bit funny all these
calves running around with there mascara running though....but it does
the job. And clare & trevor porters problem cows.........I'm glad that
some of my mongral cows have wandered over to yarram and joined there herd!!!!!!
<BR>your views on childcare in the dairy are spot-on I believe almost every
dairying couple have had to coupe and will have to cope with the problem
in the dairy.....something does need to be done.
<P>Sorry, your probably wondering were all this is going, I'm just
trying to show you that the rest of us are human also, a lot have been
through it already, some are going through it and some are about to tackle
it (aren't they lucky) Your mail hit a raw nerve, you are absolutely
right, banks and for that matter credit unions are the enemy to the
sharefarmer and small farmer, you forgot to mention that in the banks view
anydryland farm under 300 acres is not a viable farm unit, I've bin there
and hit my head against that brick wall, and on the subject of the Rural
finance Corporation, its hard to believe but they were origionally
set up by the Government to provide low interest loans to the rural sector,
with special loans to assist Young Farmers onto the land .(your discription
of there lending cryteria sounds about right)
<P>The industry needs persons such as yourself, and if anyone is still
left after this "inevitable" deregulation goes through, all farmers
(because if your having this much trouble what about the young beef or
sheep farmers)and the vff, udv and local polies should take up this problem
that is leading to the loss of our young farming families.....
<BR>Well there you are, I've said my peace.... the decision ultimately
rests in your court, do what you think is right for yourself and your family
but do take some time to talk about it, perhaps to some close farmer friends
or Rural Councilor, you just might find that....as the saying goes
your not Robinson Cruiseo after all.
<P>Bye and good luck
<BR>Noel Pattinson
<BR>"Greenacres"
<BR>Gippsland.
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</x-html>From ???@??? Mon Mar 29 08:56:55 1999
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Date: Sat, 27 Mar 1999 09:06:56 +1100
From: Peter Gault <pgault@netspace.net.au>
Subject: Re: purchasing a dairy farm
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Hi Sonya,
Have you thought about selling the cows and heifers, using this as
your deposit and putting on a sharefarmer? Still means you are looking for a
job, but the money men may be happier with their security this way. You
still end up with a farm.
regards, Peter.
Peter Gault.
Dairyfarmer.
Macalister Irrigation Area.
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