Investor Presentaiton
ELDERS LIMITED
Industry Backdrop - Livestock
Historically high volatility in cattle and sheep prices has adversely impacted Agency Services gross margin
2,250
2,000
1,750
1,500
1,250
1,000
750
500
250
0
2013
■
EYCI ($/Head)
2017
-1,516
(-70%)
2,159
2023
-650
200
180
160
140
120
100
80
60
40
WW
ន ៖ ៖ ៖ ៖ ៖ ៖ ៖ ៖ ន
2013
Mutton ($/Head)
2017
FINANCIAL RESULTS
193
-162
(-84%)
-31
2023
FY23 experienced the fastest revision in EYCI prices this century (- 64%), with
the index trading one standard deviation below the 10-year mean
The price revision was driven by:
。 Disruptions to the live export market, following a small number of cases of
Lumpy Skin Disease in Indonesia
Mutton prices have fallen 77% since September 2022, and is trading at
two standard deviations below the 10-mean
Prices were impacted by high stock turn-off following herd build over the
last three years and weaker global demand
о
Increased supply with herd destocking following BOM of El Niño and
potential drier outlook for parts of Australia
☐
US Import prices and demand for Australian lean beef remains strong driven by
the long-running American herd destocking
1.
EYCI - Eastern States Young Cattle Indicator
Source: Reproduced courtesy of Meat and Livestock Australia Limited - www.mla.com.au
10-Yr Mean
1 Std Dev
- 2 Std Dev
17View entire presentation