This is a breakdown of the costs involved for James Schrader and his family at their farm in Cumnock NSW.
Unless you are involved in or associated with farming it can be difficult to understand the costs and money involved in the farming business. In times of drought farmers must feed stock, and this drought in particular is spread over a large area of Australian resulting in thousands of families being effected.
Keeping stock alive is an expense that many farmers will never recover, as the animals will eat more feed that they will make in returns. For example; a cow is worth $1200 at the top of the market, but over 100 days the cow will eat $1930 worth of food in drought conditions. The drought that we are now facing has already been going for over 6 month and 12 months in some parts of Australia.
Many farmers are having to ask their bank to borrow money to buy feed for their stock, many having to borrow $300,000 or more. Due to having no cash flow farmers are having to use their overdraft, a money borrowing system majority of people are fortunate to have no idea about. Its basically like having a credit card debt and then getting a second credit card and gaining more debt.
My husband Sean and I have created this clip to try and breakdown how much sheep and cattle eat and the cost that farmers will incur to keep their stock alive. I hope that it helps people understand monstrosity of debt our farmers are being forced in to. The result of this financial pressure affects the entire family, the communities they live in and will ultimately have a devastating impact on the Australian economy.