According to The Australian Financial Review, Bracco, a 4634 acre (1875 hectares) cattle grazing farm near Roma in south-west Queensland, has sold under the hammer for $4.575 million, indicating a 20 per cent uplift in values in the sector over the past 12 months.
The sale price equated to $987 an acre compared with $600 to $700 an acre being achieved 12 months ago, according to Colliers International's Trenton Hindman.
"This sale implies a big shift in the Queensland market and increased confidence from people to transact as we are out of drought and beef is producing great returns," said Mr Hindman, who was marketing the property on behalf of the Henricks family.
"Bracco is a high-quality, low-cost cattle operation and this was a great result for bare-basis freehold land without improvements. It benefits from the strategic location to multiple beef market outlets, just a short run to the Roma Saleyards.
The sale of the six paddock property to a central Queensland cattle operator will give confidence to other beef cattle property vendors this spring.
Shane McIntyre, national director of rural and agribusiness at Colliers International, said there were numerous factors that would "ensure the future of beef in the medium term" including an insatiable global appetite for protein, population growth and a wealthier world.
But agribusiness banking specialist Rabobank were more cautious, forecasting Australian cattle prices to remain high for the next six to 12 months, but warning they will then come under pressure as global beef production, and total animal protein production, increases.
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