Hi Gooch, I think you may have that decimal point in the borrowing costs wrong I work it out to 350k and not $3.5mil extra for every 1% rise in interest rates, probably only 250k for the next few years as we have $10mil fixed for another 5 years on one of our loans
I think what the previous owner of west plains said about how hard it was to make money for the last decade farming there kind of says it all, if its not one thing, its another, surely something has to give and we get a few real good years, really even one real good year would be welcome
Well at least we got those nearly 200 hectares of cotton off and with 50 hectares still to go should help this years accounts and our current bank balance
cheers grant
DBF Price at posting:
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