Business – Valuation (Livestock) experts

Introduction

Experts in this field are valuation specialists who have focused their studies on the monetary worth of livestock. Valuation is the process of estimating the worth of an item using professional knowledge, expertise and judgement. In this case, it relates to making estimations on the value of animals raised in an agricultural setting to produce labour and commodities such as meat, eggs, milk, fur, leather, and wool.

Valuation of livestock is generally performed for the purposes of insurance, sales or trade and taxation. It allows for a proper understanding of the owner’s wealth and business value, and informs proper taxation amounts. Knowing the value of their items and assets also benefits the owner in that they can then adequately protect and maintain their investments, so that their value is preserved. Valuation livestock is often performed upon the sale of a business or simply as a price-setting exercise when valuing the output of the animals. Value is a somewhat nebulous thing, but can be determined by examining the number, condition, age, pedigree, and scale of output of the animals.

Experts in this area come from many professional backgrounds. Many will have worked in agriculture, either from a managerial standpoint or directly with the animals. Some will be trained valuation experts, or perhaps have worked in valuation for an insurance company. They may also be business experts in farming and livestock specifically. The specific specialisation and background needed in your livestock valuation expert will be determined by the matter which requires examination.

At the bottom of this profile are brief details of a number of the experts that Expert Experts represents. Call our office to discuss your requirements and to obtain a recommendation that suits your needs and budget.

Expertise in Action

Experts in valuation as it relates to livestock can be called upon to assist in cases involving estates, taxation of complex businesses, insurance matters, and many more.

Sample Reports

For some fields of expertise we have some sample sections of de-identified reports. Please contact our office if you are interested in a sample.

Cost

The overall cost of expert opinion depends on the services required. Some of the key factors that affect the cost of advice include:

• The need for a view or inspection of a location
• The quantity of documentary material to be reviewed
• Whether there are reports of other experts to be reviewed and commented on in detail
• Whether there is a need for conferences with the expert either in person or by telephone/Skype

Relevant Articles Valuing livestock,

An ATO resource on the EOFY valuation of livestock.

COVID-19 Effects on Livestock Production: A One Welfare Issue

An article detailing some of the long-term affects of COVID-19 on livestock.

Relevant Cases Hennah and Hennah v Kelly and Kelly HC NAP CIV 2009-441-000103 [2009] NZHC 1800 (17 June 2009)

A case relating to the valuation of livestock.

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