Cash Cows for hire

Dairy farmers suffering from cash flow pressures could benefit from an innovative new way to increase herd size, after contract milking firm Sixty Seven Cow joined forces with West Country insurer Cornish Mutual.

Despite a sharp rise in prices and profits, soaring overheads and the high cost of cattle have left many dairy farms unable to expand and improve their financial situation.

However, such farms could now benefit under a new leasing service, enabling them to increase or rebuild herds at short notice, without a crippling initial layout.

Following a bespoke insurance arrangement with Cornish Mutual, Sixty Seven Cow has positioned itself to buy cattle on customers' behalf, and lease them over a three or four year contract.

The concept is well established in Australia and the US, but is as yet untried in Britain, and insuring the unusual business model had proved a sticking point.

Sixty Seven Cow founder Jim Parker, who runs the business with his daughter Tracy, explains: “We needed very specialised cover to enable the service to go ahead, and struggled to find someone who really understood what we were trying to do.”

Following recommendations from his clients in the South West, Jim contacted Cornish Mutual, and struck up a rapport with local insurance inspector Nick Howe. With 25 years' experience in the dairy industry, Nick was quickly able to understand the Somerset firm's business proposition, and tailor the necessary cover.

Nick says: “It is a pleasure to be involved in launching a new service that could have a very positive impact on the dairy farming community in this country.

“Sixty Seven Cow has become a very well-known national name in contract milking in a relatively short time, and we wish them no less success with this new venture.”

News brought to you by Cornish Mutual, who offer a broad range of cover. This includes insurance for your home, property, vehicles, machinery, livestock, produce & loss of earnings.