BUSINESSDESK: Livestock Improvement, the New Zealand farmer-owned company that sells bull semen and runs a dairy genetics database, will offer a credit for a genetic defect that caused "hairy calves" to be born from the offspring of a bull called Matrix.
LIC chairman Murray King says crediting the cost of all semen and inseminations from the bull responsible does not amount to compensation to farmers who own the calves.
There are about 900 involved, with 1500 calves carrying the mutant gene.
"We stand by the decision that compensation is not appropriate but the LIC board believes that a gesture of goodwill is the right thing to do for the farmers who have daughters of the bull Matrix," he says.
The credit would extend to all inseminations from Matrix, including those that resulted in healthy offspring.
"Defects of this nature are rare – this is only the second of this type to have occurred in more than 50 years of LIC breeding more than 9,000 bulls," he says.
LIC has recommended the animals be tested and has offered free DNA examination.
LIC shares can be traded among farmers via the NZX platform and were last at $4.90, having fallen 2% this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Spark boss ditches *another* Sky decoder
- Carry on: Xiamen for Auckland, Cathay for Christchurch, Virgin for HK and more
- Hidesight: Advance means retreat for glacier scientists
- Hunter's Corner: Sealegs: an underperforming marine technology innovator
- Hooton: Racism lies behind Little’s kaupapa Maori attack
Most listened to
- Business Week in Review with Grant Walker and Andrew Patterson
- Rob Hosking on the politics of protest vs the politics of government
- Rodney Hide: Advance means retreat for glacier scientists
- Stewart Germann and Gehan Gunasekara go head-to-head on the franchising debate
- Racism lies behind Little’s kaupapa Maori attack, says Matthew Hooton