What is Regenerative Agriculture? What We Hope to Learn Methodology Study Findings FAQs

Financial Findings

The financial data we’re collecting includes detailed information on milk solids production per hectare, farm working expenses, item expenses, pasture quantity consumed, and more. This helps us build a picture of the profitability of regenerative farming, in comparison to conventional practices.

  • Clareview 2021-22 Year End Actuals
    Conventional Regenerative Combined
    Effective Area 148 148 296
    Stocking Rate 3.74 3.21 3.47
    Cow Numbers 553 475 1028
    Milk Solids 236,894 185,673 422,567
    Milk Solids Per Cow 428 391 411
    Milk Solids Per Ha 1601 1255 1428
    Payout (kg/MS) $9.3 $9.3 $9,3
    Stock Sales (p/kgMS) $0.27 $0.27 $0.27
    Gross Income (p/KgMS) $9.57 $9.57 $9.57
    Total Revenue $2,267,079 $1,776,887 $4,043,966
    Conventional
    Budget
    (p/kgMS/Cow/Ha)    		 Regenerative
    Budget
    (p/kgMS/Cow/Ha)    		 Combined
    Budget
    (p/kgMS/Cow/Ha)    		 Conventional
    Budget
    ($$)    		 Regenerative
    Budget
    ($$)    		 Combined
    Budget
    ($$)

    Animal Expenses
    Animal Health (per/cow) $ 0.17 $ .24 $ 0.2 $ 39,950 $ 45,050 $ 85,000
    Breeding (per/cow) $ 0.15 $ 0.16 $ 0.16 $ 35,504 $ 30,496 $ 66,000
    Calf Rearing (per/cow) $ 0.03 $ 0.03 $ 0.03 6,296 5,408 11,704
    Other Animal – Allflex
    Total Animal Expenses $ 0.35 $ 0.44 $ 0.39 $ 81,750 $ 80,954 $ 162,704

    Feed Expenses
    Feed On Farm / Supplements (per/cow) $ 0.84 $ 0.77 $ 0.81 $ 198,400 $ 143,600 $ 342,000
    Feed On Farm / Oats, Swedes, Maize (per/ha) $ 0.06 0 $ 0.03 $ 13,447 0 $ 13,447
    Feed Off Farm / Grazing (per/cow) $ 1.01 $ 1.11 $ 1.05 239,912 206,072 445,984
    Total Feed Expenses $ 1.91 $ 1.88 $ 1.9 $ 451,759 $ 349,672 $ 801,431

    Pasture Expenses
    Irrigation (Excluding Electricty) (50:50 split) ¢ 0.08 ¢ 0.11 ¢ 0.09 $ 19,500 $ 19,500 $ 39,000
    Fertiliser (per/ha) $ 0.61 $ 0.41 $ 0.52 $ 143,696 $ 75,527 $ 219,223
    Pasture Renewal (Regrassing) (per/ha) $ 0.11 0 $ 0.06 $ 26,431 0 $ 26,431
    Regen/Diverse Crop (per/ha) 0 $ 0.1 $ 0.04 0 $ 18,341 $ 18,341
    Weed & Pest (50:50 split) ¢ 0.01 ¢ 0.01 ¢ 0.01 $ 2,350 $ 2,350 $ 4,700
    Total Pasture Expenses $ 0.81 $ 0.62 $ 0.73 $ 2,350 $ 115,718 $ 307,695

    Operating Expenses
    Electricty (Include Irrigation Electricty) (per/kgMS) ¢ 0.25 ¢ 0.25 ¢ 0.25 $ 59,144 $ 46,356 $ 105,500
    Freight Exps (per/cow) $ 0.03 $ 0.03 $ 0.03 $ 7,229 $ 6,209 $ 13,438
    Repairs & Maintenance (per/kgMS) ¢ 0.21 ¢ 0.21 ¢ 0.21 $ 49,099 $ 38,483 $ 87,582
    Shed Exps (per/kgMS) ¢ 0.08 ¢ 0.08 ¢ 0.08 $ 19,366 $ 15,179 $ 34,545
    Staff Costs (per/kgMS) ¢ 0.98 ¢ 1.08 ¢ 1.02 $ 232,413 $ 199,631 $ 432,044
    Vehicle Exps (per/kgMS) ¢ 0.11 ¢ 0.12 ¢ 0.12 $ 26,611 $ 22,857 $ 49,468
    Total Operating Expenses $ 1.66 $ 1.77 $ 1.71 $ 393,862 $ 328,715 $ 722,577

    Other Operating Expenses
    Health and Safety (H&S) (50:50 split) ¢ 0.02 ¢ 0.02 ¢ 0.02 $ 4,509 $ 4,509 $ 9,017
    Other Operating Expenses (50:50 split) ¢ 0.01 ¢ 0.01 ¢ 0.01 $ 2,250 $ 2,250 $ 4,500
    Total Operating Expenses ¢ 0.03 ¢ 0.04 ¢ 0.03 $ 6,759 $ 6,759 $ 13,517

    Overhead Expenses
    Administration (Farm) (50:50 split) ¢ 0.06 ¢ 0.08 ¢ 0.07 $ 14,779 $ 14,779 $ 29,558
    Administration (Overheads) (50:50 split) ¢ 0.28 ¢ 0.35 ¢ 0.31 $ 65,912 $ 65,912 $ 131,824
    Rates (50:50 split) ¢ 0.05 ¢ 0.07 ¢ 0.06 $ 12,080 $ 12,080 $ 24,160
    Insurance (50:50 split) ¢ 0.06 ¢ 0.08 ¢ 0.07 $ 14,275 $ 14,275 $ 28,550
    ACC Levies (50:50 split) ¢ 0.03 ¢ 0.03 ¢ 0.03 $ 6,301 $ 6,301 $ 12,601
    Total Overhead Expenses ¢ 0.48 ¢ 0.61 ¢ 0.54 $ 113,347 $ 113,347 $ 226,693

    Total Farm Working Expenses (F.W.E)

    		 $ 5.23 $ 5.36 $ 5.27 $ 1,239,452 $ 995,165 $ 2,227,117

    Dairy Operating (Surplus/Deficit) (EBITDA)

    		 $ 4.34 $ 4,21 $ 4.30 $ 1,207,627 $ 781,722 $ 1,816,849

    EBIT p/HA

    		 $ 6,943 $ 5,282 $ 6,138

  • Clareview Budget – Year Ending 31st May 2022
    Conventional Regenerative Combined
    Effective Area 148 148 296
    Stocking Rate 4.00 3.45 3.73
    Cow Numbers 592 511 1,103
    Milk Solids 266,400 214,600 481,000
    Milk Solids Per Cow 450 420 436
    Milk Solids Per Ha 1,800 1450 1625
    Payout (kg/MS) $9 $9 $9
    Stock Sales (p/kgMS) $0.35 $0.35 $0.35
    Gross Income (p/KgMS) $9.35 $9.35 $9.35
    Total Revenue $2,490,840 $2,006,510 $4,497,350
    Conventional
    Budget
    (p/kgMS/Cow/Ha)    		 Regenerative
    Budget
    (p/kgMS/Cow/Ha)    		 Combined
    Budget
    (p/kgMS/Cow/Ha)    		 Conventional
    Budget
    ($$)    		 Regenerative
    Budget
    ($$)    		 Combined
    Budget
    ($$)

    Animal Expenses
    Animal Health (per/cow) $ 0.13 $ 0.14 $ 0.13 $ 34,082 $ 29,419 $ 63,501
    Breeding (per/cow) $ 0.15 $ 0.16 $ 0.15 $ 39,018 $ 33,679 $ 72,697
    Calf Rearing (per/cow) $ 0.03 $ 0.04 $ 0.04 9,152 7,899 17,051
    Other Animal – Allflex
    Total Animal Expenses $ 0.31 $ 0.33 $ 0.32 $ 82,252 $ 70,997 $ 153,249

    Feed Expenses
    Feed On Farm / Supplements (per/cow) $ 0.82 $ 0.39 $ 0.63 $ 217,571 $ 84,629 $ 302,200
    Feed On Farm / Oats, Swedes, Maize (per/ha) $ 0.03 $ 0.01 $ 7,000 $ 7,000
    Feed Off Farm / Grazing (per/cow) $ 0.90 $ 0.96 $ 0.93 239,370 206,618 445,988
    Total Feed Expenses $ 1.74 $ 1.36 $ 1.57 $ 463,941 $ 291,247 $ 755,188

    Pasture Expenses
    Irrigation (Excluding Electricty) (50:50 split) ¢ 0.06 ¢ 0.08 ¢ 0.07 $ 16,750 $ 16,750 $ 33,500
    Fertiliser (per/ha) $ 0.45 $ 0.31 $ 0.39 $ 120,000 $ 67,500 $ 187,500
    Pasture Renewal (Regrassing) (per/ha) $ 0.02 $ 0.01 $ 4,720 $ 10,000 $ 14,720
    Regen/Diverse Crop (per/ha)
    Weed & Pest (50:50 split) ¢ 0.01 ¢ 0.01 ¢ 0.01 $ 1,574 $ 1,534 $ 3,108
    Total Pasture Expenses $ 0.54 $ 0.40 $ 0.48 $ 143,004 $ 95,784 $ 238,828

    Operating Expenses
    Electricty (Include Irrigation Electricty) (per/kgMS) ¢ 0.21 ¢ 0.23 ¢ 0.22 $ 56,624 $ 48,876 $ 105,000
    Freight Exps (per/cow) $ 0.03 $ 0.03 $ 0.03 $ 7,042 $ 6,078 $ 13,120
    Repairs & Maintenance (per/kgMS) ¢ 0.19 ¢ 0.19 ¢ 0.18 $ 47,007 $ 40,575 $ 87,582
    Shed Exps (per/kgMS) ¢ 0.08 ¢ 0.07 ¢ 0.07 $ 18,541 $ 16,004 $ 34,545
    Staff Costs (per/kgMS) ¢ 0.87 ¢ 0.93 ¢ 0.90 $ 231,885 $ 200,158 $ 432,043
    Vehicle Exps (per/kgMS) ¢ 0.07 ¢ 0.07 ¢ 0.07 $ 17,497 $ 15,103 $ 32,600
    Total Operating Expenses $ 1.42 $ 1.53 $ 1.47 $ 378,596 $ 326,794 $ 705,390

    Other Operating Expenses
    Health and Safety (H&S) (50:50 split) ¢ 0.00 ¢ 0.00 ¢ 0.00 $ 500 $ 500 $ 1,000
    Other Operating Expenses (50:50 split) ¢ 0.00 ¢ 0.00 ¢ 0.00 $ 506 $ 506 $ 1,012
    Total Operating Expenses ¢ 0.00 ¢ 0.00 ¢ 0.00 $ 1,006 $ 1,006 $ 2,012

    Overhead Expenses
    Administration (Farm) (50:50 split) ¢ 0.05 ¢ 0.05 ¢ 0.05 $ 11,279 $ 11,279 $ 22,558
    Administration (Overheads) (50:50 split) ¢ 0.29 ¢ 0.29 ¢ 0.27 $ 65,912 $ 65,912 $ 131,824
    Rates (50:50 split) ¢ 0.05 ¢ 0.05 ¢ 0.05 $ 12,080 $ 12,080 $ 24,160
    Insurance (50:50 split) ¢ 0.06 ¢ 0.06 ¢ 0.06 $ 14,275 $ 14,275 $ 28,550
    ACC Levies (50:50 split) ¢ 0.02 ¢ 0.02 ¢ 0.02 $ 4,000 $ 4,000 $ 8,000
    Total Overhead Expenses ¢ 0.40 ¢ 0.50 ¢ 0.45 $ 107,546 $ 107,546 $ 215,092

    Total Farm Working Expenses (F.W.E)

    		 $ 4.42 $ 4.12 $ 4.28 $ 1,176,385 $ 893,374 $ 2,069,759

    Dairy Operating (Surplus/Deficit) (EBITDA)

    		 $ 4.63 $ 5.13 $ 2.32 $ 1,177,288 $ 1,062,754 $ 2,240,042

    EBIT p/HA

    		 $ 7955 $ 7181 $ 7315

  • Clareview Actuals + Forecast 30 November 2021 (6+6)
    Conventional Regenerative Combined
    Effective Area 148 148 296
    Stocking Rate 3.84 3.21 3.52
    Cow Numbers 568 475 1043
    Milk Solids 254,000 207,000 461,000
    Milk Solids Per Cow 447 436 442
    Milk Solids Per Ha 1,716 1,399 1,557
    Payout (kg/MS) $9.20 $9.20 $9.20
    Stock Sales (p/kgMS) $0.35 $0.35 $0.35
    Gross Income (p/KgMS) $9.55 $9.55 $9.55
    Total Revenue $2,425,700 $1,976,850 $4,402,550
    Conventional
    Budget
    (p/kgMS/Cow/Ha)    		 Regenerative
    Budget
    (p/kgMS/Cow/Ha)    		 Combined
    Budget
    (p/kgMS/Cow/Ha)    		 Conventional
    Budget
    ($$)    		 Regenerative
    Budget
    ($$)    		 Combined
    Budget
    ($$)

    Animal Expenses
    Animal Health (per/cow) $ .14 $ .17 $ .15 $ 34,375 $ 35,625 $ 70,000
    Breeding (per/cow) $ .16 $ 0.16 $ 0.16 $ 39,591 $ 33,108 $ 72,699
    Calf Rearing (per/cow) $ 0.04 $ 0.04 $ 0.04 9,286 7,765 17,051
    Other Animal – Allflex
    Total Animal Expenses $ 0.33 $ 0.37 $ 0.35 $ 83,251 $ 76,499 $ 159,750

    Feed Expenses
    Feed On Farm / Supplements (per/cow) $ 0.89 $ 0.45 $ 0.69 $ 225,000 $ 92,200 $ 317,200
    Feed On Farm / Oats, Swedes, Maize (per/ha) $ 0.03 0 $ 0.02 $ 7,000 0 $ 7,000
    Feed Off Farm / Grazing (per/cow) $ 0.96 $ 0.98 $ 0.97 242,875 203,109 445,984
    Total Feed Expenses $ 1.87 $ 1.42 $ 1.67 $ 474,875 $ 295,309 $ 770,184

    Pasture Expenses
    Irrigation (Excluding Electricty) (50:50 split) ¢ 0.07 ¢ 0.08 ¢ 0.07 $ 16,750 $ 16,750 $ 33,500
    Fertiliser (per/ha) $ 0.62 $ 0.38 $ 0.52 $ 157,500 $ 80,000 $ 237,500
    Pasture Renewal (Regrassing) (per/ha) $ 0.06 $ 0.05 $ 0.05 $ 14,550 $ 9,860 $ 24,410
    Regen/Diverse Crop (per/ha)
    Weed & Pest (50:50 split) ¢ .006 ¢ .007 ¢ .006 $ 1,534 $ 1,534 $ 3,068
    Total Pasture Expenses $ 0.75 $ 0.52 $ 0.63 $ 190,334 $ 108,144 $ 298,478

    Operating Expenses
    Electricty (Include Irrigation Electricty) (per/kgMS) ¢ 0.23 ¢ 0.23 ¢ 0.23 $ 58,129 $ 47,372 $ 105,500
    Freight Exps (per/cow) $ 0.03 $ 0.03 $ 0.03 $ 7,145 $ 5,975 $ 13,120
    Repairs & Maintenance (per/kgMS) ¢ 0.19 ¢ 0.19 ¢ 0.19 $ 48,256 $ 39,326 $ 87,582
    Shed Exps (per/kgMS) ¢ 0.07 ¢ 0.07 ¢ 0.07 $ 19,033 $ 15,512 $ 34,545
    Staff Costs (per/kgMS) ¢ 0.92 ¢ 0.95 ¢ 0.94 $ 235,284 $ 196,760 $ 432,044
    Vehicle Exps (per/kgMS) ¢ 0.07 ¢ 0.07 ¢ 0.07 $ 17,753 $ 14,847 $ 32,600
    Total Operating Expenses $ 1.5 $ 1.5 $ 1.53 $ 385,599 $ 319,792 $ 705,391

    Other Operating Expenses
    Health and Safety (H&S) (50:50 split) ¢ 0.002 ¢ 0.002 ¢ 0.002 $ 500 $ 500 $ 1000
    Other Operating Expenses (50:50 split) ¢ 0.002 ¢ 0.002 ¢ 0.008 $ 506 $ 506 $ 3737
    Total Operating Expenses ¢ 0.005 ¢ 0.005 ¢ 0.010 $ 1,006 $ 1,006 $ 4,737

    Overhead Expenses
    Administration (Farm) (50:50 split) ¢ 0.06 ¢ 0.07 ¢ 0.06 $ 14,779 $ 14,779 $ 29,558
    Administration (Overheads) (50:50 split) ¢ 0.26 ¢ 0.32 ¢ 0.29 $ 65,912 $ 65,912 $ 131,824
    Rates (50:50 split) ¢ 0.05 ¢ 0.06 ¢ 0.05 $ 12,080 $ 12,080 $ 24,160
    Insurance (50:50 split) ¢ 0.06 ¢ 0.07 ¢ 0.06 $ 14,275 $ 14,275 $ 28,550
    ACC Levies (50:50 split) ¢ 0.02 ¢ 0.03 ¢ 0.03 $ 6,301 $ 6,301 $ 12,601
    Total Overhead Expenses ¢ 0.45 ¢ 0.55 ¢ 0.49 $ 113,347 $ 113,347 $ 226,693

    Total Farm Working Expenses (F.W.E)

    		 $ 4.92 $ 4.42 $ 4.70 $ 1,248,412 $ 914,096 $ 2,165,233

    Dairy Operating (Surplus/Deficit) (EBITDA)

    		 $ 4.63 $ 5.13 $ 4.85 $ 1,177,288 $ 1,062,754 $ 2,237,317

    EBIT p/HA

    		 $ 7,995 $ 7,181 $ 7,559