Share farming sets families on right path

• When Jesse Weaver was overlooked for a loan by the banks, a Young Farmer Support Package from the Department of State Growth was his saving grace.

NOT all hope is lost for next-gen dairy farmers.

 After taking the first herd back to the paddock, with the Western Tiers in the background framed by the rising sun, young Tasmanian dairy farmer Jesse Weaver remembers why he choose this industry over a decade ago.

 With a new family at home, Jesse knows all the sacrifices will be worth it when his dream of owning a property of his own finally comes to fruition.

 Purchasing land has become a distant dream for many young farmers, with soaring property prices and international investors driving next-generation hopefuls to the sideline.

 For Jesse, when banks completely overlooked him, a Young Farmer Support Package from the Department of State Growth was his saving grace.

 “Without the loan scheme, dairy share farming would not have been possible,” he said.

 “I went to the Commonwealth Bank, and they wouldn’t even have a bar of it. I just didn’t quite fit their box and so they weren’t even going to look at me.”

Currently a share farmer at a 1400 herd family-owned dairy farm in northern Tasmania, Jesse is growing capital through the purchasing of cattle with the loan he received from the Department of State Growth.

 “I am not investing in land, but I am investing in cows that will help me grow wealth to put a down payment on a farm maybe someday,” Jesse said.

 Jesse has 90 cows in the herd and 100 yearlings at his share farming property and is planning to buy 100 more calves this season.

 For many young farmers, purchasing land is simply not feasible.

 Jesse hopes that banks start investing in young farmers and begin to view livestock as a more secure asset.

 “I think our banks need to be more willing to invest a lot more into the young farmers by helping them access funds to start up.

 They need to be a lot more interested in our plans and reputation,” he said.

 “They look at land for security, but if you’re a young farmer trying to start up, obviously you’re not at that position yet.

 “Land ownership is where you want to head.

“Department of State Growth Senior Fair shares set families on their way get off the ground due to financing.”

Agribusiness Finance Manager Jeff Sward said the Young Farmers Support Package under the AgriGrowth Loan Scheme allows young farmers to “actually have a crack themselves”.

 “The loan scheme is designed to help young Tasmanian farmers already working in the sector, to progress from being stuck as employees to becoming farmers operating in their own right,” he said.

 “It brings projects forward that otherwise would have been delayed or not been able to A stepping stone for many young farmers, the Young Farmers Support Package has been accessed by 50 Tasmanian farmers since 2018 to the value of $54 million.

 “Often the lack of sufficient deposit and any past financial results stop young farmers from obtaining finance and this is where the Young Farmer Support Package comes in.

 “Once they have got the benefit of successful financial results for a couple of years, it is amazing how much more bankable they are in the main commercial finance sector.”

Circular Head Farms founder Stephen Fisher is creating another pathway to land ownership for young Tasmanian farmers.

“Each farm we purchase in a separate unit trust, with the ability for that share farmer, once they own the herd, to buy units in the farm itself to the point where they buy us out of that farm completely,” Stephen said.

 Cam and Shona Wilson are in their first season of dairy share farming at one of Stephen Fisher’s properties.

 They hope to one day purchase the property from him, but they know they have a long road ahead.

 “It still feels quite unattainable at this point,” Cam said.

 “It is going to take a lot of years, a lot of time and a lot of sacrifice.”

Cam and Shona will most likely have to be share farming at two properties and purchasing livestock at both to build enough equity to purchase their current share farming property.

 “You’ve got to have that second lot of equity to really help you get enough in front,” Cam said.

 “Things are getting dearer, interest rates are up, price of land is increasing and for young farmers, this model is really becoming the only way.”

With three young children at home, Cam and Shona are just trusting the process.

 “We love what we do, and that’s where a lot of our drive comes from,” Cam said.

 “Being able to look back on what we have accomplished makes it all worth it.”

Author McKenzie Archer is the daughter of Bracknell dairy farmer Grant Archer and is studying a Master of Journalism at Monash University.