B+LNZ’s New Season Outlook 2023-24 is predicting another tough year for farmers with farm profitability falling by 31% for the 2023-24 year following a decline of 32% in 2022-23 and profits for farmers having more than halved in two years down to a 15-year low taking inflation into account. Beef + Lamb NZ board member and Sth Canterbury farmer Nicky Hyslop says farm inflation and input costs are prohibitive and she is most concerned about younger farmers.