THE Institute of Agricultural Management (IAgrM) is to hold its annual meeting in the North of England for the first time.

Lowther Park Farms and Estate at Penrith hosts the visit on Thursday, October 21. Farmers and anyone working in the sector are welcome to attend to tour the farm and learn about the Institute.

The membership includes farmers, farm/estate managers, agricultural consultants, lecturers/academics and support industries such as banking and the supply trade. Its key aims are to promote high standards, training and professional qualifications in agricultural management.

It has just launched PAgric, a new professional grade, and among its first members is Richard Price, Lowther Park Farms manager.

The 28,000 hectare Lowther Estate ranges from rocks and bracken to Grade 2 land. It has 40 farm tenants. The farm includes1,300ha farmed in hand, including 365ha of arable, 5,200 breeding ewes and 1,000 replacements, 200 summer grazed store cattle, and 140 red deer. An events business includes a four day music festival, the two day Lowther Show, and 10k endurance challenge.

Mr Price was appointed farms manager six years ago with a brief to build a business that was smart, ethical and profitable.

He said: "We think smart, and are very passionate about what we do - our staff, systems, communication and technology are key to efficient production.

"We have adopted high welfare standards and, farming an in hand operation, have an understanding of the tenants and the challenges they face. To be sustainable in future, the business has to be profitable and we're on target to achieve a ten per cent return on capital.

"My initial seven year plan was focused on simplifying the business to create a positive cash flow and prepare for a profitable future post CAP Reform, operating without payments."

A new arable enterprise has been introduced and sheep expanded by 40 per cent. The wage bill was cut by 75 per cent - leaving four full time staff - and, after nine years in organic, the in hand operation was switched to conventional.

Mr Price said: "We've improved flock revenue by £120,000 within three years by reducing labour costs by 150 per cent to £20 per ewe, increasing stocking rate by 60 per cent to 2.5 ewes per acre, changing the damline to North of England Mules and adding quality stockmanship. We're on target to achieve 1.73 lambs sold or 35kg of saleable lamb meat per ewe, this year leaving a net profit of £14 per ewe. "

The more densely stocked flock is improving grassland fertility, while the ability to plough one third of the land and introduce a three year rotation is improving soil pH and organic content.

"We are also exchanging crops for manure from our tenants in what is our biggest new scheme," said Mr Price. "Aware that some dairy farmers with long term tenancies are focused on growing their businesses but have no opportunity for more land, we are able to offer them arable crops - wholecrop wheat, dry grain, straw and grass silage - and in return take their slurry. We also provide a bed and breakfast service for their heifers."

Mr Price's role extends to the thriving event business which brings in £2.4m a year to the local economy. The farm prepares and manages the land which is then hired out to an events company with the appropriate organisational skills.

For details about IAgrM and the visit see iagrm.org.uk or email Victoria@iagrm.com