Finance
FARMER TRADES LIVESTOCK WITHOUT PUTTING DOWN A DOLLAR Ray McNamara turns a handy profit trading livestock without being at the market or putting a dollar down. The Elders Camperdown client and wife Cathie have assembled a team around them to spot the right pens, buy them and arrange the finance while the McNamaras focus on their day-to-day work. The McNamaras run the home farm at Colac in Victoria’s Western District, and Mr McNamara also manages properties for a client. “It’s pretty simple for us,” Mr McNamara said. “Our agent, Corey Baulch, is at the market once or twice a week and, if he sees something under the odds because it’s too hot or there weren’t enough people there on the day, he picks it up for us. “I’ll get a phone call and the truck will roll in and we’ve got cattle.” Mr McNamara uses a StockCo facility through Elders to seize those opportunities. The facility, Mr McNamara said, was convenient and preserved the family’s cashflow because funding costs were only deducted from sale proceeds once the livestock were sold.
In just eight months, Mr McNamara made a return of more than $30,000 on the purchase of 30 head of cattle. “Our motto is ‘buy cheap, sell dear’,” Mr McNamara said. “If you’re going to trade, you need to work closely with a good agent you can trust and Corey is the backbone of what we do with our cattle. “The association we have with Elders and StockCo is gold. That’s what I tell people, don’t do anything else, just deal with those two.”
“We like having everything under one roof to keep it simple,” he said.
Image - Ray McNamara on property 8
eldersrural.com.au
