September 30, 2025 • 7 mins
Braden Smith of Malloch McClean + MORE looks at the positives around current milk payouts and red meat prices, and he says this could be the right time to look at off-farm investment.
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Episode Transcript
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Speaker 1 (00:01):
Do you do? Do you do? Do you do?
Speaker 2 (00:07):
Oh? There's a girl wearing nothing but a smile, that's all.
And the picture on the billboard in the builder.
Speaker 1 (00:15):
Welcome back to the Muster. A country theme today. That
song there Girl on the Billboard by Dal Reeves. As
we catch up with Braden Smith, o'll have Mellot McClain
plus more based right here in Gore Braiden. Good afternoon,
How are you not too bad? Quite a few positives
going on in the rural space at the moment, though,
But firstly we'll start with this a reminder around the
first provisional tax payment for the May balance.
Speaker 2 (00:37):
Yeah, so look, it can be easy to forget, particularly
for because it's a lot about dairy clients and they've
just got through carving, they're just getting back into routine.
But yeah, on the twenty eighth this month, we have
our first provisional tax payment and for a lot of
farmers this year that's had a bit of a lift
(00:57):
because we've had a fairly strong last season the dairy.
So yeah, it's just a good time to remind yourself
that we do have one of those first payments coming up,
and just making sure we've got something put away to
cover that one off. There will be a little bit
over the next month as well, because we will have
(01:18):
that we have a number of jurnevalance states down here
as well, some people that have converted from sheep and
beef and years gone by, and there'll be a few
sheep and beef guys that have been out of the
regime for world will be coming back in. So yeah,
justl we remind her at the end of end of
landing and carving that we do have to get back
to business as usual.
Speaker 1 (01:39):
But I suppose that's a positive about paying tax. It
means you're making money, yes.
Speaker 2 (01:44):
Yes, no. Anytime that we're looking at tax bills and
how to manage that, it's always a good sign for
the economy. And it means that their acroceptor is tacking
along just nicely.
Speaker 1 (01:57):
Pretty much getty heights for the sheep and beef sector.
But while we're talking about dairy and braiden, look the
Fonterra result. Ten dollars sixteen is going to be the
milk payout, the dividend of fifty seven cents per year,
and of course this proposed capital return of two dollars
per year. This is a really good news story if
it gets ratified. Yeah.
Speaker 2 (02:16):
So look, I don't think there'll be too many people
in that volunteer space that aren't going to vote for this.
Everybody's been pretty happy with the returns we've been getting,
and if there's capital that's being returned from the sale,
I think everybody will be pretty happy to see some
of that make their way to their back pocket where
(02:38):
it's come to us. You know, we're having a lot
more conversations this year. We've had a really strong past
season and everybody's trying to think about what maybe that
next step is. So there's been you know, there's been
a lot of discussions around deep repayment, particularly with these
wet couple of springs we've had. We've had a number
of people talking about putting some money into structure like
(03:00):
feed pads or wintering barns or something of the like
to help try and stabilize their business against some of
these these weather swings. Some people are even looking at
more farms or extra farms, which is always positive. You know,
some of these guys are getting able to expand a
(03:22):
lot more than they've been able to over time. And
the other topic that has come up to has been
a little bit off farm investment, which is always an
interesting topic. You people wanting to spread their spread their
risk a little bit, So conversations around the likes of
commercial property or residential property or something like you know,
(03:46):
your your Craig's or your foresyth Bar and your and
your investments and portfolios and the like. It's it's it's
a really positive time to be a business advisor when
when all these conversations are coming up, because it means
we're in a really good space.
Speaker 1 (04:00):
Off farm investment though, makes a lot of sense when
you think about it.
Speaker 2 (04:04):
Yes, yes, it's a really I think it's a really
important tool, particularly in this day and age when farm
venues and stuff are quite big, and you know, we've
got to think about and farming in agriculture, there's an
entry point, but there's also in later life there's going
to be some sort of exit point, whether that be
(04:24):
not necessarily retiring, but you know, the next generation coming through,
or we want to retire, or we want to go
because that doesn't always necessarily constitute looking at dairy cows
at your front window. So off farm investment is a
very important point and it's also just a good investment
strategy to spread your risk a little bit.
Speaker 1 (04:45):
And of course succession planning is something that anyone and
everyone has had to go through in a farming context
and more often than not they could write a thesis
on how it all went. But like you say, it's
a great chance just to look ahead, especially for your
mum and dad or whoever the farm owners are just
to solidify their future too.
Speaker 2 (05:03):
Yes, And I mean, look, the Southland agri sector at
the moment in particular is really really strong. You know, look,
I'm not saying it's perfect, but we've had had a
good year in cheap and beef and and that's shaping
up to continue. We've got some really strong prices coming
through for those those lands and that and that beef market.
(05:23):
And again same with Darry. You know, we're we're on
a high at the moment. And if there's one thing
that we've learned over our time and accounting is that
nobody ever wants to exit when when the market is
in a lull. So if that is something that people
have been considering, now is a really good time to
think about. You know, is it time for me to
(05:44):
take that next step or you know where where do
I want to go, how do I want to want
to wind back a little bit? Or it's the next
generation getting ready to take the leap and you know
we're here to help you with that. There's there's a
lot of different ways to go about it, and certainly
know to session claims are the same. But yeah, whenever
the market's in good shape, it's a really good time
(06:05):
to start thinking about all is this Is this a
good time for me to pass this on to the
the next next person related or not.
Speaker 1 (06:14):
It's a good way to look at it from a
shape and beef perspective as well. Because you talked about
the prices being exceptional, I think that the best I've.
Speaker 2 (06:21):
Ever been, yeah, or certainly the best that I've ever
seen in my time. Admittably, there's probably a few other
faces around here that have seen a few more ups
and downs. But as far as positioning in my there
any years around here, I've seen a few ups and downs,
and at the moment it is a really positive, positive
(06:44):
environment and the forecasts are looking pretty good.
Speaker 1 (06:47):
If anybody wants to get in touch with Mount mcclaim
plus more talk about options. What's the best way to
get in touch.
Speaker 2 (06:54):
Look easiest way is to just pick up the phone
and give us a call at Gore Offices three to
eight seven seven. We've got a team of about seventy
years between the Cargo office and the Core office and
a number of different advisors here. So if either that
or by the website, if you just look up plus more,
(07:14):
dot code or NZ, you can find either the end
of Cargo office or the Core office and there's a
contact form on there that can help you get in
touch with any of us and we can have a chat.
Speaker 1 (07:24):
Good on your Branden the next time we chat that
that grass level is going to be matching the price
as we're seeing alw. It's good to catch up. Thanks
Eddy Wow, Braiden Smith out of Mount mcclaim plus more
Keerry backing and we catch up next with Dry and Z.
Then before the end of the Yeller Lynn Berry, we're
going to take her ow
Do you do? Do you do? Do you do?
Speaker 2 (00:07):
Oh? There's a girl wearing nothing but a smile, that's all.
And the picture on the billboard in the builder.
Speaker 1 (00:15):
Welcome back to the Muster. A country theme today. That
song there Girl on the Billboard by Dal Reeves. As
we catch up with Braden Smith, o'll have Mellot McClain
plus more based right here in Gore Braiden. Good afternoon,
How are you not too bad? Quite a few positives
going on in the rural space at the moment, though,
But firstly we'll start with this a reminder around the
first provisional tax payment for the May balance.
Speaker 2 (00:37):
Yeah, so look, it can be easy to forget, particularly
for because it's a lot about dairy clients and they've
just got through carving, they're just getting back into routine.
But yeah, on the twenty eighth this month, we have
our first provisional tax payment and for a lot of
farmers this year that's had a bit of a lift
(00:57):
because we've had a fairly strong last season the dairy.
So yeah, it's just a good time to remind yourself
that we do have one of those first payments coming up,
and just making sure we've got something put away to
cover that one off. There will be a little bit
over the next month as well, because we will have
(01:18):
that we have a number of jurnevalance states down here
as well, some people that have converted from sheep and
beef and years gone by, and there'll be a few
sheep and beef guys that have been out of the
regime for world will be coming back in. So yeah,
justl we remind her at the end of end of
landing and carving that we do have to get back
to business as usual.
Speaker 1 (01:39):
But I suppose that's a positive about paying tax. It
means you're making money, yes.
Speaker 2 (01:44):
Yes, no. Anytime that we're looking at tax bills and
how to manage that, it's always a good sign for
the economy. And it means that their acroceptor is tacking
along just nicely.
Speaker 1 (01:57):
Pretty much getty heights for the sheep and beef sector.
But while we're talking about dairy and braiden, look the
Fonterra result. Ten dollars sixteen is going to be the
milk payout, the dividend of fifty seven cents per year,
and of course this proposed capital return of two dollars
per year. This is a really good news story if
it gets ratified. Yeah.
Speaker 2 (02:16):
So look, I don't think there'll be too many people
in that volunteer space that aren't going to vote for this.
Everybody's been pretty happy with the returns we've been getting,
and if there's capital that's being returned from the sale,
I think everybody will be pretty happy to see some
of that make their way to their back pocket where
(02:38):
it's come to us. You know, we're having a lot
more conversations this year. We've had a really strong past
season and everybody's trying to think about what maybe that
next step is. So there's been you know, there's been
a lot of discussions around deep repayment, particularly with these
wet couple of springs we've had. We've had a number
of people talking about putting some money into structure like
(03:00):
feed pads or wintering barns or something of the like
to help try and stabilize their business against some of
these these weather swings. Some people are even looking at
more farms or extra farms, which is always positive. You know,
some of these guys are getting able to expand a
(03:22):
lot more than they've been able to over time. And
the other topic that has come up to has been
a little bit off farm investment, which is always an
interesting topic. You people wanting to spread their spread their
risk a little bit, So conversations around the likes of
commercial property or residential property or something like you know,
(03:46):
your your Craig's or your foresyth Bar and your and
your investments and portfolios and the like. It's it's it's
a really positive time to be a business advisor when
when all these conversations are coming up, because it means
we're in a really good space.
Speaker 1 (04:00):
Off farm investment though, makes a lot of sense when
you think about it.
Speaker 2 (04:04):
Yes, yes, it's a really I think it's a really
important tool, particularly in this day and age when farm
venues and stuff are quite big, and you know, we've
got to think about and farming in agriculture, there's an
entry point, but there's also in later life there's going
to be some sort of exit point, whether that be
(04:24):
not necessarily retiring, but you know, the next generation coming through,
or we want to retire, or we want to go
because that doesn't always necessarily constitute looking at dairy cows
at your front window. So off farm investment is a
very important point and it's also just a good investment
strategy to spread your risk a little bit.
Speaker 1 (04:45):
And of course succession planning is something that anyone and
everyone has had to go through in a farming context
and more often than not they could write a thesis
on how it all went. But like you say, it's
a great chance just to look ahead, especially for your
mum and dad or whoever the farm owners are just
to solidify their future too.
Speaker 2 (05:03):
Yes, And I mean, look, the Southland agri sector at
the moment in particular is really really strong. You know, look,
I'm not saying it's perfect, but we've had had a
good year in cheap and beef and and that's shaping
up to continue. We've got some really strong prices coming
through for those those lands and that and that beef market.
(05:23):
And again same with Darry. You know, we're we're on
a high at the moment. And if there's one thing
that we've learned over our time and accounting is that
nobody ever wants to exit when when the market is
in a lull. So if that is something that people
have been considering, now is a really good time to
think about. You know, is it time for me to
(05:44):
take that next step or you know where where do
I want to go, how do I want to want
to wind back a little bit? Or it's the next
generation getting ready to take the leap and you know
we're here to help you with that. There's there's a
lot of different ways to go about it, and certainly
know to session claims are the same. But yeah, whenever
the market's in good shape, it's a really good time
(06:05):
to start thinking about all is this Is this a
good time for me to pass this on to the
the next next person related or not.
Speaker 1 (06:14):
It's a good way to look at it from a
shape and beef perspective as well. Because you talked about
the prices being exceptional, I think that the best I've.
Speaker 2 (06:21):
Ever been, yeah, or certainly the best that I've ever
seen in my time. Admittably, there's probably a few other
faces around here that have seen a few more ups
and downs. But as far as positioning in my there
any years around here, I've seen a few ups and downs,
and at the moment it is a really positive, positive
(06:44):
environment and the forecasts are looking pretty good.
Speaker 1 (06:47):
If anybody wants to get in touch with Mount mcclaim
plus more talk about options. What's the best way to
get in touch.
Speaker 2 (06:54):
Look easiest way is to just pick up the phone
and give us a call at Gore Offices three to
eight seven seven. We've got a team of about seventy
years between the Cargo office and the Core office and
a number of different advisors here. So if either that
or by the website, if you just look up plus more,
(07:14):
dot code or NZ, you can find either the end
of Cargo office or the Core office and there's a
contact form on there that can help you get in
touch with any of us and we can have a chat.
Speaker 1 (07:24):
Good on your Branden the next time we chat that
that grass level is going to be matching the price
as we're seeing alw. It's good to catch up. Thanks
Eddy Wow, Braiden Smith out of Mount mcclaim plus more
Keerry backing and we catch up next with Dry and Z.
Then before the end of the Yeller Lynn Berry, we're
going to take her ow
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