Elders is promising there will be no fire sale of the companys live export operations, despite this week deciding to quit its risky livestock shipping business to avoid a cost blowout hurting shareholders.
Sliding profit margins in the once thriving live cattle export trade have convinced the farm services business to end the lease on one of its two remaining livestock ships and halt long haul activities immediately.
Elders will also sell its North Australian Cattle Company (NACC) which ships live slaughter and feeder cattle on short haul routes to Indonesia, Vietnam and Malaysia.
Also for sale is its air freight service which delivered Australias first live shipment of beef cattle for the Chinese processing market last October.
That flight …
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