You will, I hope, understand that this paper is set in the context of a commercial farm — and, moreover, a farm where fixed costs are high. Every enterprise must justify its existence financially and we have no room for a sentimental approach to things we merely like doing. This is as true of our flock of 1000 ewes as it is of our cereals, oilseed rape and sugar beet. The overriding emphasis has to be on profitability, both on that part of the flock devoted to the production of slaughter lambs as well as to the production of shearling rams for sale from our purebred Meatlinc flock.

The theme of this paper is therefore dominated by cash.