A string of central and northern Queensland cattle stations sold in Christmas lead-up

A string of Queensland cattle properties have sold over the last couple of months as cashed-up buyers lock in deals before Christmas.

A string of Queensland cattle properties have sold over the last couple of months as cashed-up buyers lock in deals before Christmas to take advantage of some of the best seasons on record.

Tom Brodie from the Winton-based Brodie Agencies said long-term owners have taken the opportunity to sell in a strong market helped by late seasonal rain.

“The market is at record prices and for investors and owners who want to retire there has probably never been a better time to do it,” he said. “Pastoralists had some good seasons behind them and they want to expand. They know they have a 12 months of good pastures in front of them, so they don’t have to rely on rainfall.”

Mr Brodie recently sold the 77,747ha Baratria aggregation between Longreach and Winton – which was owned by the Teys family for 30 years – to three family-owned pastoral businesses.

Baratria was sold to Cloncurry’s Saunders family from Roundocks; Hartree to Tom and Jesse Terry from Mundjuro at Julia Creek; and Clyde was sold to David and Neida Mims from Tucson at Longreach.

The price paid for the three properties was undisclosed, although Mr Brodie said it was in line with recent property sales in the district. Industry sources say properties in the Winton-Longreach area are currently selling for up to $500 per hectare.

The Baratria aggregation between Longreach and Winton.

Mr Brodie is marketing the Melrose aggregation with Wally Cooper from RPL. The aggregation, west of Winton, which has been held by the family of current owner Peter Magoffin for more than 150 years, is the neighbour of the Baratria aggregation.

Mr Brodie said the aggregation attracted strong interest.

Mr Magoffin is also selling the 138,200ha Tonkoro Station, south of Winton, which has been in the family for 121 years.

In other deals, North Queensland pastoralists David and Gina Kane reportedly paid more than $70m for Sedgeford – a 48.370ha breeding and fattening cattle property in the central western Queensland’s Barcaldine region.

The Kanes are wagyu breeders who own Mirtna Station west of Charters Towers, as well as two blocks near Bauhinia Downs and country at Bell.

Brad Hanson from Hourn & Bishop Qld handled the campaign on behalf of the Teys family, who have held it more than 32 years. They purchased the property for $4m in 1990 from William Allen, a National Party figure and former Suncorp chairman.

Also Meandarra’s Andrew and Marg Hurst and family have paid $9.7m for the 48,550ha Clifton in central western Queensland, 65km east of Windorah, while the House family’s Aramac’s Fortuna Aggregation (39,951ha) was sold prior to auction.

Gulf Coast Agricultural has 70,000 to 80,000 Brahman cattle.

According to RaboBank’s Q4 Global Beef Quarterly, import prices for Australian beef into key markets are expected to continue to edge lower in 2023 as livestock numbers increase and producer demand drops.

The report lead author, Rabobank senior animal protein analyst Angus Gidley-Baird, said favourable seasonal conditions in Australia continued to support producer demand and, in turn, cattle prices, despite softening at the retail end of the supply chain.

He said while the bank believed the Australian cattle herd was growing, “it is possibly not doing so at the rates we have seen in the past”.

“We think producers are taking advantage of good feed availability and high cattle prices to trade cattle rather than build breeding numbers,” he said.

“As a result, we haven’t seen cattle prices ease and slaughter numbers lift, despite more than two and a half years of good seasonal conditions – particularly in the south east,” he said.

However, Mr Gidley-Baird said Rabobank believed cattle numbers would increase through 2023.

“The challenge now is that cattle prices will need to drop further than previously to generate viable processor margins given the rising costs and softer consumer markets,” he said.