"Usual livestock business, prices crash when everyone is destocking, then surge when conditions improve and they are short of breeding stock. Have seen it happen many times."
It's one of the things that frustrated me with this mob, all they could talk about was rebuilding the herd during the boom price period when in fact they should should have been offloading the bottom end of the herd and started buying back quality cattle recently and pocketing the difference!
Anyhow we're nearer the bottom of the market now, was pleasantly surprised the NTA wasn't down further than it is. Even with ordinary business performance it is still a ridiculous gap between sp and NTA.
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