One of New Zealand's most successful Simmental cattle breeders says a combination of the economic recession and droughts has had a major impact on some stud breeders.
Tony Thompson from Waipukurau says three consecutive droughts have made it been extremely tough for cattle studs in Hawke's Bay and the Gisborne region.
A major reason he himself is still in business, he says, is that he was able to sell half his farm in the past year for a dairy conversion.
A resurgence in interest in the Angus breed hasn't helped, he adds.
