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.