LIC’s investigation into what caused semen quality issues for farmers in October last year will be presented to its board in February.
Following that meeting, the investigation outcomes will be made public, LIC chief executive David Chin said.
“All farmer shareholders will be informed of the outcomes and any improvements that will be made to our business as a result.”
The investigation looked at all operational processes and possible improvements. An independent review was also carried out to look in to LIC’s response to the issue.
The herd improvement company carried out the investigation after farmers were sent poor quality semen straws for mating next season.
The bad semen was initially found in 13 batches sent out to farms on October 17,18 and 19. This amounted to 20,000 straws and affected 921 herds across New Zealand.
A second faulty batch was discovered on November 22; it had been sent to farms on October 23,24 and 25. It has impacted 1127 herds across the country, varying from as low as 2.5% of a herd to more than 20% of the cows.
LIC offered credits and goodwill payments to affected farmers.