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It's just the beginning for Spenda!, page-1563

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PRD2427

1,991 Posts.

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29/03/22

10:54

Post #: 60486215
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Originally posted by CDO22: ↑

Some "agri lending" is more like trade finance yes. The cyclicality brings high volatility in volumes (and therefore low multiples). And given the "big guy" ends up being a buyer, you are still often financing a smaller agri producer. They are also looking into cattle, sheep, etc... It is a highly specialised sector with very many risks. And when you finance farmers, you never recover your money if things go wrong. Or muuuuuch later. Hence the range of yields. Same yields on offer from small businesses but there I trust the team they bought have relevant experience in that sector.

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I randomly picked Australia's largest producer of carrots the other day just for some background info.

Have a look at this business which I would think is typical of the farmer in the agriculture sector SPX might be interested in.

lamattinafarms.co m.au/about

Just remove the space for a view into a very impressive farming family.

I would be interested to hear your view on the risk for SPX in financing this style of agricultural enterprise.

SPX Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
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