Page 52 - Tropic Magazine Issue 30

TROPIC • FINANCE

Beefing business

AGRICULTURAL BANKING
NAB has been supporting
Tropical North Queensland’s
cattle sector for over 160 years,
in challenging times and also
during periods of growth, as is
the case right now. 1

Words: Renee Cluff
The beef sector is booming as Australian
graziers work to rebuild the national 2
herd, following years of drought. Since Along with the strong about our business. In that way, they’ve
last year, good seasons and low livestock changed the way they value our herd,
numbers have pushed prices to record pricing we’re seeing strong which impacts our equity. That’s a really
highs. In April, The Eastern Young Cattle business investment big deal to our business and we really
Indicator (EYCI) – an average of cattle appreciate the extra work they go to in
market sales – surpassed 900 cents per actually customising things for us.”
kilogram carcass weight for the first NAB has 650 Regional & Agribusiness
time ever. “We have recently seen better bankers on the ground in over 120
seasonal conditions, particularly in locations around the country and has
central and southern Queensland which Elisha-Vi Raso, the largest business banking team
has really boosted re-stocker demand,” NAB in Far North Queensland. “We are
said NAB’s Far North Queensland “Graziers are spending on new here to advocate for the beef sector to
Regional & Agribusinesses Executive, machinery, improving sustainable drive progress and positive outcomes,
Elisha-Vi Raso. “The herd needs to be practices and adopting new technologies. and work with industry to help make
rebuilt and graziers are scrambling to. We are seeing customers bringing sure the sector is set up to succeed for
Whilst primary producers in the Far forward business expansion plans, generations to come,” Ms Raso said.
North have largely been unaffected by a focus on improving efficiencies and “We are passionate about our customers
drought, they remain subject to market planning for the future.” and we want to thank you for inviting us
conditions and right now, that means Among NAB’s customers is the Pearce into your homes, for your energy, your
you’re buying and selling high.” family of Telpara Hills Brangus & innovation, your inspiration, and for
More than one in three beef producers UltraBlack Cattle on the Atherton trusting us as your business partners.”
are customers of NAB and Ms Raso told Tablelands. “Our local representative,
Tropic they’re reporting a high level of Thomas Haywood, is young and
confidence in their sector. “What we’re enthusiastic and he’s just great,” MORE: nab.com.au
hearing from our customers right now is Brittany Pearce told Tropic. “The NAB
it’s a great time to be in the beef industry,” works really hard to understand how 1. Telpara Hills heiffer
she said. our business works and what is unique 2. The Pearce family of Telpara Hills

Beef Week Get the facts

NAB was a Major Supporting Partner of cents/
Beef Australia 2021, held in Rockhampton 10% 901.75 kilo
in May. More than 115,000 people attended
the event and 63 tonnes of beef was The record set in April for How much Australian cattle
consumed. NAB hosted a ladies’ lunch the average cattle price in numbers are expected to
and a gala ball as well as a series of the eastern states. increase by 2023.
information sessions.
Source: Meat and Livestock Australia

52 • Tropic • Issue 30