CHAPTER 1- Introduction
Between 1978/79 and 1989/90, incomes on South Canterbury farms were significantly affected by circumstances outside the control of farmers.
These were:
- Changes to market prices for outputs.
- Adverse climatic events.
- Increased debt servicing costs.
This study of 10 South Canterbury farms examines the variation which occurred to gross income and expenditure streams over the 12 year time series.
The objectives of the study are to:-
- Develop a family and farm physical time line for each of the 10 properties.
- Summarise the financial, economic policy and climatic developments which occurred over the same period.
- Compare the financial and physical time lines; comment on the physical factors which
impacted on the variance in the financial results. These physical factors to include and
be distinguished as either:
- Examine the impacts that the external physical and financial variation had on the 10 properties with respect to the farm management and personal decisions that the farmers made over the period.
- Prepare a detailed report which examines the 10 case study farms individually and which summarises the results and conclusions which may be collectively drawn from these individual studies.
- Prepare a brief summary report suitable for public release which outlines the work undertaken and the results and conclusion of the study.
- Present the results and conclusions to the 10 participating farmers and their accountant with the aim of discussing and gaining feedback, and of obtaining the farmers' perception of "viability" and "risk". The results of this meeting may clarify the need and objectives for a continued study on farm viability and risk management at the farm level.
3.1 Things within the farmer's control, ie decisions made and directions chosen;
3.2 Things beyond the farmer's control.
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