Record-breaking $161,000 bull worth every cent, owner says – 1News

Wairarapa farmer Keith Higgins has stated that a record-breaking $161,000 investment in an Angus bull is delivering strong returns nearly one year after the purchase.

The bull, identified as Tangihau U418, was acquired last June from a renowned Gisborne stud during the East Coast Angus bull week. That specific auction event generated $8.6 million in total, an increase of nearly $3.7 million compared to the previous year.

Higgins integrated the sire into his Oregon Angus farm near Masterton to enhance his breeding and artificial insemination programme. He told RNZ that the decision to outbid other buyers was based on the bull’s quality and type, as well as its status as an outcross with a different bloodline that blended with the style of his existing females.

“Everything’s gone extremely well,” Higgins said, noting that the bull has had a successful season with his females and was worth the national record price.

Despite the success of the landmark purchase, Higgins indicated he will not be seeking further high-priced livestock during the current autumn bull sales. He is in the process of downsizing his operations from 570 hectares to a smaller 60-hectare property.

Higgins has sold his cows and is moving his calves to the smaller block. He stated that he only requires a few yearling bulls for the upcoming season.

Regarding the wider agricultural climate, Higgins noted there is significant confidence currently present in the sheep and beef industry.