A wet winter, very strong livestock values, all looks good.
The business rules are changing but they remain the same. My re-occurring conversation with customers it’s all about managing inventory which is all about managing the trading accounts. The white hot cattle market now reflects:
• We have a volatile cattle market.
• There is variability in production, we need to find that variation.
• Our livestock inventories have escalated, so has our cost to carry.
• The underlying driver of profitability in livestock remains productivity, ie stocking rate, reproduction and weight gain.