The problem is worse than most realise.
At least Beverley is a good fairly reliable farming area.
I was camping back in January and got talking to a farmer from a spot that I used to go skiing back in the early 90s.
He took over the family farm 10 years ago with $1m in the bank and no debt.
Today no cash and down to 83% equity.What to do??
Try again,lease, sell.No one wants to be the one to exit.
I think ANZ got a shock when they realised how bad Wesfarmers finance book was.
By the way,I worked with your local Elders rep for 3 years in the early 2000's.
Leased my farm in 2009 as i was going backwards.
All the best.
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