Originally Posted by
Snoopy
I think it would depend on how much equity and hence borrowing headroom a farmer has in her farm Percy. If you have enough credit worthiness, a farmer could draw down a loan against their property and use that money 'however they like' (and that includes buying cows). If the bank was less willing to extend 'property credit' then Heartland could 'come into play'. But so could PGG Wrightson who are prepared to loan 'finishing money' on any livestock that goes through their yards (even though they don't call it a loan!). There are always 'options' out there if you are a good farmer. And if you are 'not so good', then a loan from Heartland gets more likely!
SNOOPY