June 2, 2025 • 6 mins
We find the chief executive of Silver Fern Farms in Toronto, Canada, where he’s meeting with the Lamb Company (an in-market venture owned by SFF, Alliance, ANZCO and an Australian partner). We look at the prospects for red meat in Asia and North America, plus the need for rationalisation in the industry when it comes to capacity.
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Episode Transcript
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Speaker 1 (00:00):
He is the chief executive of Silver Fern Farms, our
biggest meat processing company. His name is Dan Bolton. He's
not spending much time at home these days. Dan, you've
been in China today we find you in Toronto. You're
doing the North American swing if you want. I'm assuming
that the prospects for red meat in North America are
(00:20):
really good at the moment. But go back to China
to Asia. How does it compare?
Speaker 2 (00:27):
Yeah, Well, I mean both markets are very buoyant at
this point in time, So you're right. Last week we're
in China with the Silfom Farms Board. We're both in
Shanghai as well as the old ancient city of Xi'an. Yeah,
and it was great connecting with our customers. Clearly there's
an improvement and confidence in the China market and we're
seeing that reflecting and pricing across beef, Lamb and Venison.
(00:49):
So not leading the global pricing, but they're definitely competitive
and that's what we want to see coming out of
one of our big markets.
Speaker 1 (00:56):
We literally can't supply enough to the North American market
when it comes to beef. Am I right in saying that,
or am I over egging.
Speaker 2 (01:02):
It, Dan, Yeah, No, definitely, we've got an issue around
supply and that's across all of our our markets right
around the world. You know, our customers are wanting more
of what we have right now. You know that's off
the back of reduced beef numbers in the US. But
you know right now in New Zealand, you know, our
kell numbers are down as we move into winter, So
that creates some really healthy price tension in the markets
(01:24):
as well, which we enjoy.
Speaker 1 (01:26):
Talk to me about Trump's tariffs, this ten percent tariff,
What if any effect is it having at the moment.
Speaker 2 (01:34):
Well, we've managed to pass most of the tariffs on
to to into market, so that's a good outcome. There's clearly,
I guess a lack of confidence that's in the market
in North America at the moment, and I guess uncertainly
he is quite high. But again, you know, demand for
red meat, particularly our grassfeed red meat, is really strong.
So even in the context of tariff's playing out, you know,
(01:57):
really good demand, really good pricing. And you know what
we are seeing though, Jamie and the market is and
that their consumer confidence is waning, but it's actually coming
out of areas such as the mid to low level
cattle dining areas, We're fine dining is still absolutely pumping
along in retail at the moment, you know, people are
trading down and eating at home, but our retail business
(02:18):
up in North America is going extremely well.
Speaker 1 (02:21):
Talk to me about the Lamb Company now, this is
a joint in market venture between or owned by silver
Fern Farms, Ansco Alliance plus an Australian partner, and Dan Bolton,
chief executive of silver Fern Farms. Why are you guys
working in unison offshore and cutting each other's throats back home.
Speaker 2 (02:42):
Yeah, it's been around for over fifty years now and
obviously there was some a really good vision there around
working together in the market and leveraging our scale. So
that's going well. I think this year alone, the Lamb
Company is turning over one billion dollars in revenue across
the North American market. So that shows a success, you know,
really good growth and retail, food service and e commerce.
(03:05):
And you know, on the back of that growth, they've
been able to invest in three state of the art
processing facilities. We've got one in Toronto, we've got one
in New Jersey and one in Los Angeles and now
distributing to almost every state in the US and Canada
twice a week, so really impressive business. We've got a
team of fifty people representing our lamb out in the
market up here and about another four hundred and fifty
(03:27):
people working across those processing facilities, so really really good
collaboration and it's has gone from strength to strength.
Speaker 1 (03:33):
Dan, are you going to buy the Alliance Group? This
isn't on the script, but I was at a farmer funeral,
a big, a big big farm a funeral down in
South and on Friday, and one of the pictures we
put up was with my old mate Rowan Horrell in
the paddock in two thousand and nine with John Key,
the then Prime Minister, and John Key was singing the
praises of a potential merger between the Alliance Group and
(03:54):
Silver Firm Farms. Do you think it's a shame it
didn't happen?
Speaker 2 (04:00):
The question you're posed to me, I mean, Alliance are
running through their own process, so I'll leave them to
answer that question. But you've heard me say before. You
know there is a need in New Zealand to rebalance
capacity back to where livestock numbers are right now and
doing that and I guess in a collaborative way sort
of makes sense. But yeah, time will tell how that
all plays out.
Speaker 1 (04:21):
Do you do you actively have talks with the likes
of the Alliance groupath CO, all the big players as
CO on things like capacity in.
Speaker 2 (04:31):
Terms of understanding what we need for a resilient processing
sector for our farmers for the next generation is really important.
But clearly we've got to be careful around what we
can talk about and what we can't and that's important.
But right now you could say we're available capacity matched
against livestock numbers is an imbalance and some sort of
change is needed, and I think the last man's standing
(04:53):
approach is not sustainable for our sector or for our farmers.
Speaker 1 (04:58):
Well spoken, couldn't agree with you more. Let's just finish
really quickly on Silver, fir and Farm's plate to pass
your conference which is coming up fifteenth to seventeenth of
July at that wonderful events center in Hamilton, Crawdland's including
the plate to pass your awards basically for the top farmer. Dan.
Speaker 2 (05:16):
Yeah, no, it's great to be back after a year
off and good to be back in the North Island
as well. So our silf and Farms Conference is happening
in July and it's free to attend for all our
shareholders and farmers, and we encourage everyone on their farms
to come along, and we've got a particular focus on
that next generation to come and understand and connect with
(05:37):
other farmers and get some fresh insight around what's happening
in the sector. So you know, you talk to people
that have been to our conferences previously and it's a
really really positive few days, so really encourage those that
are thinking about it to register. Registrations are open right
now so you can either click on the links and
emails or on our website so spots will fill up fast.
(05:58):
But there's a lot of great content that we're going to.
Speaker 1 (06:01):
Be sharing absolutely and that's free. Good work. Hey, from
Toronto to Hamilton next week for field Days, Dan Bolton,
thanks for your time. We'll see you at the tron fantastic.
Speaker 2 (06:11):
Thanks Jenny
He is the chief executive of Silver Fern Farms, our
biggest meat processing company. His name is Dan Bolton. He's
not spending much time at home these days. Dan, you've
been in China today we find you in Toronto. You're
doing the North American swing if you want. I'm assuming
that the prospects for red meat in North America are
(00:20):
really good at the moment. But go back to China
to Asia. How does it compare?
Speaker 2 (00:27):
Yeah, Well, I mean both markets are very buoyant at
this point in time, So you're right. Last week we're
in China with the Silfom Farms Board. We're both in
Shanghai as well as the old ancient city of Xi'an. Yeah,
and it was great connecting with our customers. Clearly there's
an improvement and confidence in the China market and we're
seeing that reflecting and pricing across beef, Lamb and Venison.
(00:49):
So not leading the global pricing, but they're definitely competitive
and that's what we want to see coming out of
one of our big markets.
Speaker 1 (00:56):
We literally can't supply enough to the North American market
when it comes to beef. Am I right in saying that,
or am I over egging.
Speaker 2 (01:02):
It, Dan, Yeah, No, definitely, we've got an issue around
supply and that's across all of our our markets right
around the world. You know, our customers are wanting more
of what we have right now. You know that's off
the back of reduced beef numbers in the US. But
you know right now in New Zealand, you know, our
kell numbers are down as we move into winter, So
that creates some really healthy price tension in the markets
(01:24):
as well, which we enjoy.
Speaker 1 (01:26):
Talk to me about Trump's tariffs, this ten percent tariff,
What if any effect is it having at the moment.
Speaker 2 (01:34):
Well, we've managed to pass most of the tariffs on
to to into market, so that's a good outcome. There's clearly,
I guess a lack of confidence that's in the market
in North America at the moment, and I guess uncertainly
he is quite high. But again, you know, demand for
red meat, particularly our grassfeed red meat, is really strong.
So even in the context of tariff's playing out, you know,
(01:57):
really good demand, really good pricing. And you know what
we are seeing though, Jamie and the market is and
that their consumer confidence is waning, but it's actually coming
out of areas such as the mid to low level
cattle dining areas, We're fine dining is still absolutely pumping
along in retail at the moment, you know, people are
trading down and eating at home, but our retail business
(02:18):
up in North America is going extremely well.
Speaker 1 (02:21):
Talk to me about the Lamb Company now, this is
a joint in market venture between or owned by silver
Fern Farms, Ansco Alliance plus an Australian partner, and Dan Bolton,
chief executive of silver Fern Farms. Why are you guys
working in unison offshore and cutting each other's throats back home.
Speaker 2 (02:42):
Yeah, it's been around for over fifty years now and
obviously there was some a really good vision there around
working together in the market and leveraging our scale. So
that's going well. I think this year alone, the Lamb
Company is turning over one billion dollars in revenue across
the North American market. So that shows a success, you know,
really good growth and retail, food service and e commerce.
(03:05):
And you know, on the back of that growth, they've
been able to invest in three state of the art
processing facilities. We've got one in Toronto, we've got one
in New Jersey and one in Los Angeles and now
distributing to almost every state in the US and Canada
twice a week, so really impressive business. We've got a
team of fifty people representing our lamb out in the
market up here and about another four hundred and fifty
(03:27):
people working across those processing facilities, so really really good
collaboration and it's has gone from strength to strength.
Speaker 1 (03:33):
Dan, are you going to buy the Alliance Group? This
isn't on the script, but I was at a farmer funeral,
a big, a big big farm a funeral down in
South and on Friday, and one of the pictures we
put up was with my old mate Rowan Horrell in
the paddock in two thousand and nine with John Key,
the then Prime Minister, and John Key was singing the
praises of a potential merger between the Alliance Group and
(03:54):
Silver Firm Farms. Do you think it's a shame it
didn't happen?
Speaker 2 (04:00):
The question you're posed to me, I mean, Alliance are
running through their own process, so I'll leave them to
answer that question. But you've heard me say before. You
know there is a need in New Zealand to rebalance
capacity back to where livestock numbers are right now and
doing that and I guess in a collaborative way sort
of makes sense. But yeah, time will tell how that
all plays out.
Speaker 1 (04:21):
Do you do you actively have talks with the likes
of the Alliance groupath CO, all the big players as
CO on things like capacity in.
Speaker 2 (04:31):
Terms of understanding what we need for a resilient processing
sector for our farmers for the next generation is really important.
But clearly we've got to be careful around what we
can talk about and what we can't and that's important.
But right now you could say we're available capacity matched
against livestock numbers is an imbalance and some sort of
change is needed, and I think the last man's standing
(04:53):
approach is not sustainable for our sector or for our farmers.
Speaker 1 (04:58):
Well spoken, couldn't agree with you more. Let's just finish
really quickly on Silver, fir and Farm's plate to pass
your conference which is coming up fifteenth to seventeenth of
July at that wonderful events center in Hamilton, Crawdland's including
the plate to pass your awards basically for the top farmer. Dan.
Speaker 2 (05:16):
Yeah, no, it's great to be back after a year
off and good to be back in the North Island
as well. So our silf and Farms Conference is happening
in July and it's free to attend for all our
shareholders and farmers, and we encourage everyone on their farms
to come along, and we've got a particular focus on
that next generation to come and understand and connect with
(05:37):
other farmers and get some fresh insight around what's happening
in the sector. So you know, you talk to people
that have been to our conferences previously and it's a
really really positive few days, so really encourage those that
are thinking about it to register. Registrations are open right
now so you can either click on the links and
emails or on our website so spots will fill up fast.
(05:58):
But there's a lot of great content that we're going to.
Speaker 1 (06:01):
Be sharing absolutely and that's free. Good work. Hey, from
Toronto to Hamilton next week for field Days, Dan Bolton,
thanks for your time. We'll see you at the tron fantastic.
Speaker 2 (06:11):
Thanks Jenny
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