A Queensland cattle baron says the election of Donald Trump and the Brexit vote in the United Kingdom have boosted his confidence in the international beef market.
Peter Hughes, managing director of Hughes Pastoral Group, this week added one of central Queensland’s best grazing properties to his family’s extensive portfolio, with the settlement of Tumbar station for $67.5 million.
He said it was a good time to invest in the cattle sector.
“I have always had a lot of confidence in the beef industry. I have been in it [the beef industry] for generations and I am very confident,” he said.
“I am even more confident now that we have … got a few good people that will be in places of influence around the world.
“With Brexit and with Donald Trump getting in in the United States, a few sensible people get into places of influence … it couldn’t help but give you confidence.”
Mr Hughes’s enthusiasm for the sector was off the back of the settlement of the 68,000 hectare Tumbar station, south of Jericho.
The sale, which was signed in August, included 8,000 head of Angus-cross cattle.
Property ticks all the boxes
Mr Hughes said he planned to convert Tumbar to an organic operation and introduce his wagyu bloodlines to complement his existing portfolio.
“It is a property we can background cattle coming from Lake Nash [on the Northern Territory border] and Teirawoomba [Nebo],” he said.
“Cattle do very well there [at Tumbar]. And it is well on the way to market so it is ideal for backgrounding and also breeding organic wagyu cattle.
“It is also excellent for backgrounding high quality steers.”
Mr Hughes said he felt privileged to secure “a property that someone spent a lifetime developing”.
“It is a magnificent property. It has been very carefully developed over a lifetime. It is beautiful buffel grass country in a safe rainfall [area] and it is outside the tick [line].
“So it suits us perfectly. And those sorts of properties are very rare. A large parcel of land in a sweet area like that, they are rare.”