ELD General Discussion, page-494

imho the potential for average or better seasonal conditions in eastern Australia is above average. However it remains early in the season and one should never count the chickens, prior to a hatching. Livestock industries (cattle and sheep) remain volatile and I expect that to continue in the foreseeable future.

Elders will absolutely, no doubt, endure droughts in the future, for that is a guarantee. It really comes down to controlling costs, so Elders can provide a competitive services.

Then I am thinking it will be all about corporate activity. ELD has a stake in PGG Wrightson in New Zealand, at a significant paper loss currently $20 million A$, with the current low PGG Wrightson sp, I would expect ELD to offer to take over the remaining shares in PGG within 12 months.

PGG website below.




Then I think about the next corporate moves, GNC, RIC or even CBH ( hard to execute grower politics ), if none of them stake up or are viable. A sale to international farm inputs and services business in two or three years.

only speculation and defiantly not a recommendation.