National herd scheme values released for 25/26 Season

The latest National Average Market Values (NAMV) have been released by Inland Revenue, and there are some significant movements across sheep, beef and dairy values this year.

If you’re in the Herd Scheme, now is a good time to review what those changes could mean for your business, your tax position, and your plans moving forward.

What is the herd scheme?

The Herd Scheme is a livestock valuation method designed for breeding livestock in New Zealand.

Rather than taxing changes in livestock values each year, the Herd Scheme largely focuses on changes in livestock numbers instead. This helps reduce the impact of market fluctuations creating taxable income on paper.

In simple terms, it can smooth out some of the volatility that comes with changing livestock prices and create more certainty when planning ahead.

Each year around the end of May, the IRD releases updated National Average Market Values based on livestock market data collected across the country as at 30 April.

You can view the full IRD values here

Summary of this year’s biggest movements

For the 2025–2026 period:

  • Values have increased in general by around 25-45%
  • Sheep have increased by around 30-40%
  • Beef cattle have increased by around 30-40%
  • Dairy cattle have increased by around 30%

Why this matters

For farmers using NAMV to value stock; If your stock numbers have increased then you’ll likely have significant taxable income if they continue to put all stock in Herd Scheme.

For any clients who wish to transfer from NSC to Herd Scheme; There will be significant taxable income.

Related party transactions; Will need careful handling, particularly successions that are occurring currently.

Your action plan

  1. Ensure accurate livestock counts at balance date
  2. Review how you value stock
  3. Review your tax position

Need an hand?

If you want to work through what the updated Herd Scheme values could mean for your farming business, get in touch with the Sidekick Rural team.

We can help with:

  • Livestock valuation sanity check
  • Review how you value stock
  • Tax planning
  • Long-term livestock strategy conversations

Book a call with a Sidekick Rural here