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08-03-2020, 10:05 AM
#13081
PGW are doing well with their Go Lamb and Go Beef [finance].From memory $38 mil of their total $59 mil debt is in Go [financing].
ALF.are doing well with their livestock finance.
HGH are doing well with their livestock finance.
So who is not.? I would guess the 4 major Aussie Banks.Most farmers would have their farm mortgages with them,and would rather spread their finance options with ALF,HGH,or PGW,rather than relying on their Bank.A case of not having all their eggs in one basket.
PGW and ALF also clip the ticket when lambs etc are brought/ sold through their agents/stock yards,and I think that is more their focus, rather than straight finance margin,although both would find that the extra bonus.
What HGH are moving away from is large rural relationships, such as financing dairy farm conversions, and rural farm mortgages,but not livestock lending.
The length of time of a livestock loan is a great deal shorter than a mortgage.
Drought conditions in one area means farmers have to sell stock,as they can not feed them,while farmers in other areas, who have feed, buy them.
Also it does not take 20 to 30 years to fatten a lamb up....lol.
Last edited by percy; 08-03-2020 at 10:45 AM.
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08-03-2020, 12:05 PM
#13082
A little birdie tells me that mature bulls and steers have dropped about $500 in value at the works in the last couple of weeks, $2,300 down to about $1,800 head. Might recover somewhat as the ships circling around and around the harbour in Chinese ports laden with hundreds of thousands of tons of meat are finally allowed to dock and deliver their cargo.
Last edited by Beagle; 08-03-2020 at 12:07 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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08-03-2020, 12:40 PM
#13083
Great news.
I will keep a look out at Pak'n Save for some "cheaper" Porterhouse steak.
Perhaps some nice lamb chops too.!
Trust HGH's next agm is in ChCh.Instead of tea and scones, Jeff may bring along the Barbie and cook us up some nice repossessed steers' steaks.
Last edited by percy; 08-03-2020 at 12:47 PM.
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08-03-2020, 01:15 PM
#13084
 Originally Posted by percy
Great news.
I will keep a look out at Pak'n Save for some "cheaper" Porterhouse steak.
Perhaps some nice lamb chops too.!
Trust HGH's next agm is in ChCh.Instead of tea and scones, Jeff may bring along the Barbie and cook us up some nice repossessed steers' steaks.
Plenty of specials on good cuts of steak in the supermarkets already. Fill the freezer.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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08-03-2020, 05:16 PM
#13085
Maybe cheaper next week.?...............................lol.
ps.No,1 daughter is still upset Pak'nSave no longer have a mailer.
She used to be able to see what I would be stocking up with,and come and help herself.?.!.lol.
Last edited by percy; 08-03-2020 at 05:21 PM.
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08-03-2020, 05:26 PM
#13086
Member
Originally Posted by Beagle
A little birdie tells me that mature bulls and steers have dropped about $500 in value at the works in the last couple of weeks, $2,300 down to about $1,800 head. Might recover somewhat as the ships circling around and around the harbour in Chinese ports laden with hundreds of thousands of tons of meat are finally allowed to dock and deliver their cargo.
A result of the meatworks running reduced hours as export demand has fallen off as a result of coronavirus, and supply side increases because of drought conditions. There's quite a wait to book stock into the works at present
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08-03-2020, 05:35 PM
#13087
Originally Posted by JeffW
A result of the meatworks running reduced hours as export demand has fallen off as a result of coronavirus, and supply side increases because of drought conditions. There's quite a wait to book stock into the works at present
Export volumes of meat considerably up until end December though(20?%),go figure
https://www.stats.govt.nz/news/recor...d-meat-exports
Last edited by kiora; 08-03-2020 at 05:40 PM.
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09-03-2020, 12:43 PM
#13088
Originally Posted by Beagle
Plenty of specials on good cuts of steak in the supermarkets already. Fill the freezer.
why not with stocks as well then? ;+)
For clarity, nothing I say is advice....
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09-03-2020, 12:46 PM
#13089
Originally Posted by peat
why not with stocks as well then? ;+)
Banks and especially finance companies or banks behaving like finance companies don't do well in a protracted severe recession which is where I think the economy is going. I'll leave it to the other Beagle to be "brave".
Could be good buying at NTA of $1.05 if it goes that low.
Last edited by Beagle; 09-03-2020 at 12:47 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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09-03-2020, 08:44 PM
#13090
Originally Posted by Beagle
Banks and especially finance companies or banks behaving like finance companies don't do well in a protracted severe recession which is where I think the economy is going. I'll leave it to the other Beagle to be "brave".
Could be good buying at NTA of $1.05 if it goes that low.
Wonder what the capital raise will be at when it comes?
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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