August 26, 2025 • 8 mins
Kylie Fisken of Malloch McClean Plus More says dairy farming is well placed for a very good season.
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Episode Transcript
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Speaker 1 (00:02):
Welcome back to the muster, Kylie Fuskin from Mount mcclaim
plus more based here and Gore joins us once again.
Get a hi heis doing. I'm good. What's not to
be good about? Hunt day? When the weather's been the
way it is for the end or the conclusion of
(00:23):
winter and we start to change the farming cycle yet again.
Speaker 2 (00:27):
Yeah, spring starts next week. I thought it started about
three weeks ago. There's some happy, smiling people out there.
Speaker 1 (00:33):
Well, deafitils are popping up now. And talked about it before,
definiteal days just around the corner. It's just a mindset
thing though, Like the birds are chirpling before sparrow fart.
It's just that time of year.
Speaker 2 (00:43):
Yeah, Lighter in the mornings, lighter in the evenings, getting
more done in the day. Carving's going well. Yeah, there's
no bad reports out there to be fair.
Speaker 1 (00:53):
And a few really lamb gangs seen on the horizon
as well. And that's what you want to talk about today. Interesting, Kylie,
you just mentioned to me before, well you normally refer
to this time of year as maternity leave.
Speaker 2 (01:04):
Yeah, I normally my phone doesn't go and people don't
want to see me and I can get some work done.
So it's not me maternity leave obviously, it's just clarify that. Yeah, absolutely, no,
definitely not me, But yeah I do call it maternity
leave over carving and lemming, where I can get into
the office and get some work done. This year is
(01:25):
a little bit different. The phone is still going, people
have time, they want to see me, they want to
make decisions, and it's all really good stuff.
Speaker 1 (01:32):
Look we look at Frontierra, right, that's proposed two dollars
back per shere. Let's be cash.
Speaker 2 (01:38):
Yeah, it's a lot of money for some people, isn't it.
And I guess the caveat here is Remember this still
has a long way to go. The shareholder vote that
has to happen to sell the consumer brands, for one,
and then of course from that they're proposing a two
dollars a share capital return to shareholders. So we don't
(01:59):
want to count chickens before they hatch and spend it yet.
But with this prospect, along with a pretty positive year
from our from our training so far and forecast it,
we've got some options of what to do with our
spare money.
Speaker 1 (02:20):
It was a great problem to have, so Okay, the obvious.
What's some of these options in your opinion?
Speaker 2 (02:25):
So I'm just going to confirm that this two dollars
proposal is not taxable income. Okay, so yeah, it is not.
Text Last time this happened, it was August twenty twenty
three at a churn of fifty cents. If you remember
back to August twenty twenty three, because I do, nobody
(02:47):
noticed the fifty cents. Really, it got absorbed into operating
cash flow. It was a welcome relief, definitely, but it
definitely wasn't a life changing sum of money. This time,
I think it's different. It is truly spare money. So
the responsible accountant in me, see, there we go, pay
(03:08):
down debt, so example, two hundred thousand shares, it's four
hundred thousand dollars, give it to your bank, reduce your
interest costs every year if you're an interest rate is
six percent back the tax effect you're going to be
seventeen two hundred and fifty better off a year. Sounds sensible,
(03:31):
but coupled with a profitable trading, are we going to
meet deep reduction targets already? Without this? This? This doesn't
sound like me at all?
Speaker 1 (03:46):
Does it?
Speaker 2 (03:47):
What I'm about to say, and it's probably contrary to
what a lot of people have said, there is an
opportunity here to look at our capital infrastructure on farm.
We have an opportunity to reenvy to need farming businesses.
Is there something we can apply this cash too that
will increase air productivity, create business sustainability, or make our
(04:10):
life better. So we're chasing the three freedoms, right, the
freedom of time, the freedom of mind, and the freedom
of money. If someone gives you a little bit of
freedom of money, how can we turn that freedom into
time and mind?
Speaker 1 (04:26):
So stop the press. You're not talking about debt consolidation.
Speaker 2 (04:29):
I'm not talking about debt consolidation and entirety.
Speaker 1 (04:32):
No, Well, that's what farming's about. I suppose every now
and then you've got to take the wins and yes,
you've got to pay down capital principle and the likes.
You've got to look after your business. But ultimately, if
you've got a bit of money, we'll bager it. I'm
going to go and buy something. If you're in the position,
you've got to do it though. I mean, that's what
being in the job's all about, right, Yeah.
Speaker 2 (04:51):
So remember that caveat. Is it going to make us
more money and is it going to make.
Speaker 1 (04:55):
Our life easier?
Speaker 2 (04:57):
So there's still a bit of a business case going
on there.
Speaker 1 (05:00):
Well, I you boat, it's always about a mental health break,
so yes, yes.
Speaker 2 (05:04):
Yeah, So that's the option three. And this really doesn't
sound like me.
Speaker 1 (05:09):
Well buy a boat, yeah, buy boat.
Speaker 2 (05:12):
So it can gather dust because we still don't have
the time to use it. We can buy a holiday
home where will end up renting out because we still
don't have the time to use it, and it's just
another set of lawns to mow and spider webs to clean.
Or can we use this spare money to invest in
the future. Can we make serious inroads into succession projects
(05:36):
that seemed impossible before?
Speaker 1 (05:39):
Go and buy a whitebait stand to use the boat for.
Speaker 2 (05:42):
Still don't have the time because we haven't invested in
the time.
Speaker 1 (05:44):
But you're investing in something off farm.
Speaker 2 (05:48):
I always come with a warning if this does go
ahead reports say first half of twenty twenty six. There's
no need to rush into decisions. Don't go crazy.
Speaker 1 (05:58):
Oh here she is, she's back.
Speaker 2 (05:59):
Yeah, flips it again. This is an appropriate time to
talk about what your life looks like in ten to
fifteen years or more. Invest some time in working with
our team to create a succession plan to give clarity
and confidence of this money. Succession isn't a dirty word
and doesn't necessarily mean passing on to the next generation.
(06:21):
But if you can build a plan whatever that looks
like in actions to get there.
Speaker 1 (06:27):
Succession there's a novel right there.
Speaker 2 (06:29):
Yeah, looks different to everybody, doesn't it. What does retirement
look like to a farmer?
Speaker 1 (06:34):
Ooh, nasty word. You're asking some big questions this afternoon.
Speaker 2 (06:39):
That's our job, right. Just because this capital payment, it
doesn't mean you can access it from your trading entity,
especially if you're trading in a limited liability company. This
could require some special careful planning with your accountant. Capital
restructuring is a very technical tax area, and please don't
(06:59):
think you're accountant can wave their magic wand and mop
it up later.
Speaker 1 (07:04):
Okay, that's a dairy sector. Look at the sheep and
beef side of things. Prices are looking really good, obviously,
not the margins a dairy at the moment. What's your
advice there?
Speaker 2 (07:12):
Keep going head down, but keep going give us another year.
Things are looking good. But we're coming off a low base.
We've got a lot to get back to a balance
sheet sustainability before we can say we've got spare money.
Speaker 1 (07:26):
It's going to be fascinating to see the figures after
the lambing season based on last year's numbers that came
I think beef and Lamb came out with them regarding
the lamb numbers and how they were back well this
year with the carbon farming influence is going to be
instrumental yet again, just give us twelve months. Twelve months
is all we asked for.
Speaker 2 (07:46):
The recovery has been really really good, but yeah, wee
bit more to go yet.
Speaker 1 (07:51):
Malt McLain plus more here and Gore, how do we
get in touch Kylie so we can go and talk
about a new boat.
Speaker 2 (07:56):
Give us a cool two eight five O double seven
or hello at m mc A dot co dot MZ.
Speaker 1 (08:02):
Good on you, Colie, always good to catch up. Cheers Andy,
Kylie Fuskin of Malt mcclaim plus more here and Gory.
You heard it here first, go and get yourself a
bit you deserve it. Nathan Nelson fronderian Z. We catch
up next
Welcome back to the muster, Kylie Fuskin from Mount mcclaim
plus more based here and Gore joins us once again.
Get a hi heis doing. I'm good. What's not to
be good about? Hunt day? When the weather's been the
way it is for the end or the conclusion of
(00:23):
winter and we start to change the farming cycle yet again.
Speaker 2 (00:27):
Yeah, spring starts next week. I thought it started about
three weeks ago. There's some happy, smiling people out there.
Speaker 1 (00:33):
Well, deafitils are popping up now. And talked about it before,
definiteal days just around the corner. It's just a mindset
thing though, Like the birds are chirpling before sparrow fart.
It's just that time of year.
Speaker 2 (00:43):
Yeah, Lighter in the mornings, lighter in the evenings, getting
more done in the day. Carving's going well. Yeah, there's
no bad reports out there to be fair.
Speaker 1 (00:53):
And a few really lamb gangs seen on the horizon
as well. And that's what you want to talk about today. Interesting, Kylie,
you just mentioned to me before, well you normally refer
to this time of year as maternity leave.
Speaker 2 (01:04):
Yeah, I normally my phone doesn't go and people don't
want to see me and I can get some work done.
So it's not me maternity leave obviously, it's just clarify that. Yeah, absolutely, no,
definitely not me, But yeah I do call it maternity
leave over carving and lemming, where I can get into
the office and get some work done. This year is
(01:25):
a little bit different. The phone is still going, people
have time, they want to see me, they want to
make decisions, and it's all really good stuff.
Speaker 1 (01:32):
Look we look at Frontierra, right, that's proposed two dollars
back per shere. Let's be cash.
Speaker 2 (01:38):
Yeah, it's a lot of money for some people, isn't it.
And I guess the caveat here is Remember this still
has a long way to go. The shareholder vote that
has to happen to sell the consumer brands, for one,
and then of course from that they're proposing a two
dollars a share capital return to shareholders. So we don't
(01:59):
want to count chickens before they hatch and spend it yet.
But with this prospect, along with a pretty positive year
from our from our training so far and forecast it,
we've got some options of what to do with our
spare money.
Speaker 1 (02:20):
It was a great problem to have, so Okay, the obvious.
What's some of these options in your opinion?
Speaker 2 (02:25):
So I'm just going to confirm that this two dollars
proposal is not taxable income. Okay, so yeah, it is not.
Text Last time this happened, it was August twenty twenty
three at a churn of fifty cents. If you remember
back to August twenty twenty three, because I do, nobody
(02:47):
noticed the fifty cents. Really, it got absorbed into operating
cash flow. It was a welcome relief, definitely, but it
definitely wasn't a life changing sum of money. This time,
I think it's different. It is truly spare money. So
the responsible accountant in me, see, there we go, pay
(03:08):
down debt, so example, two hundred thousand shares, it's four
hundred thousand dollars, give it to your bank, reduce your
interest costs every year if you're an interest rate is
six percent back the tax effect you're going to be
seventeen two hundred and fifty better off a year. Sounds sensible,
(03:31):
but coupled with a profitable trading, are we going to
meet deep reduction targets already? Without this? This? This doesn't
sound like me at all?
Speaker 1 (03:46):
Does it?
Speaker 2 (03:47):
What I'm about to say, and it's probably contrary to
what a lot of people have said, there is an
opportunity here to look at our capital infrastructure on farm.
We have an opportunity to reenvy to need farming businesses.
Is there something we can apply this cash too that
will increase air productivity, create business sustainability, or make our
(04:10):
life better. So we're chasing the three freedoms, right, the
freedom of time, the freedom of mind, and the freedom
of money. If someone gives you a little bit of
freedom of money, how can we turn that freedom into
time and mind?
Speaker 1 (04:26):
So stop the press. You're not talking about debt consolidation.
Speaker 2 (04:29):
I'm not talking about debt consolidation and entirety.
Speaker 1 (04:32):
No, Well, that's what farming's about. I suppose every now
and then you've got to take the wins and yes,
you've got to pay down capital principle and the likes.
You've got to look after your business. But ultimately, if
you've got a bit of money, we'll bager it. I'm
going to go and buy something. If you're in the position,
you've got to do it though. I mean, that's what
being in the job's all about, right, Yeah.
Speaker 2 (04:51):
So remember that caveat. Is it going to make us
more money and is it going to make.
Speaker 1 (04:55):
Our life easier?
Speaker 2 (04:57):
So there's still a bit of a business case going
on there.
Speaker 1 (05:00):
Well, I you boat, it's always about a mental health break,
so yes, yes.
Speaker 2 (05:04):
Yeah, So that's the option three. And this really doesn't
sound like me.
Speaker 1 (05:09):
Well buy a boat, yeah, buy boat.
Speaker 2 (05:12):
So it can gather dust because we still don't have
the time to use it. We can buy a holiday
home where will end up renting out because we still
don't have the time to use it, and it's just
another set of lawns to mow and spider webs to clean.
Or can we use this spare money to invest in
the future. Can we make serious inroads into succession projects
(05:36):
that seemed impossible before?
Speaker 1 (05:39):
Go and buy a whitebait stand to use the boat for.
Speaker 2 (05:42):
Still don't have the time because we haven't invested in
the time.
Speaker 1 (05:44):
But you're investing in something off farm.
Speaker 2 (05:48):
I always come with a warning if this does go
ahead reports say first half of twenty twenty six. There's
no need to rush into decisions. Don't go crazy.
Speaker 1 (05:58):
Oh here she is, she's back.
Speaker 2 (05:59):
Yeah, flips it again. This is an appropriate time to
talk about what your life looks like in ten to
fifteen years or more. Invest some time in working with
our team to create a succession plan to give clarity
and confidence of this money. Succession isn't a dirty word
and doesn't necessarily mean passing on to the next generation.
(06:21):
But if you can build a plan whatever that looks
like in actions to get there.
Speaker 1 (06:27):
Succession there's a novel right there.
Speaker 2 (06:29):
Yeah, looks different to everybody, doesn't it. What does retirement
look like to a farmer?
Speaker 1 (06:34):
Ooh, nasty word. You're asking some big questions this afternoon.
Speaker 2 (06:39):
That's our job, right. Just because this capital payment, it
doesn't mean you can access it from your trading entity,
especially if you're trading in a limited liability company. This
could require some special careful planning with your accountant. Capital
restructuring is a very technical tax area, and please don't
(06:59):
think you're accountant can wave their magic wand and mop
it up later.
Speaker 1 (07:04):
Okay, that's a dairy sector. Look at the sheep and
beef side of things. Prices are looking really good, obviously,
not the margins a dairy at the moment. What's your
advice there?
Speaker 2 (07:12):
Keep going head down, but keep going give us another year.
Things are looking good. But we're coming off a low base.
We've got a lot to get back to a balance
sheet sustainability before we can say we've got spare money.
Speaker 1 (07:26):
It's going to be fascinating to see the figures after
the lambing season based on last year's numbers that came
I think beef and Lamb came out with them regarding
the lamb numbers and how they were back well this
year with the carbon farming influence is going to be
instrumental yet again, just give us twelve months. Twelve months
is all we asked for.
Speaker 2 (07:46):
The recovery has been really really good, but yeah, wee
bit more to go yet.
Speaker 1 (07:51):
Malt McLain plus more here and Gore, how do we
get in touch Kylie so we can go and talk
about a new boat.
Speaker 2 (07:56):
Give us a cool two eight five O double seven
or hello at m mc A dot co dot MZ.
Speaker 1 (08:02):
Good on you, Colie, always good to catch up. Cheers Andy,
Kylie Fuskin of Malt mcclaim plus more here and Gory.
You heard it here first, go and get yourself a
bit you deserve it. Nathan Nelson fronderian Z. We catch
up next
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