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Ian McLean

Ian McLean

Managing Director of Bush AgriBusiness (Toowoomba, Qld) and co-author of the Australian Beef Report, advising pastoral businesses across northern Australia.

Oct 20, 2026

1:54
But you make it sound as if they're really only making money out of their land values.
1:58
Oh, it is going well, Libby, and it's fantastic at the moment with the high prices that we're seeing and some areas in the north here are starting to get some rain.
2:08
What we've done is take a long-term view through the full cycle of seasons and prices.
2:14
And yes, for the average producer, they're not making, we don't think, high enough profits.
2:23
And this report looks at what those that are making high profits are doing and what the rest of the industry can learn from them.
2:32
What are they doing differently?
2:35
A few things, and it's consistent across regions and enterprise.
2:39
The top performing businesses have more productive herds that are more effective at turning grass into beef.
17:57
Does that make sense?
17:58
Oh, it does, and that's very right, Lydia.
18:00
That, that is a challenge.
18:01
Probably one thing to point out when we're analyzing these family businesses is we do put a, a full value on owner wages, in terms of we, we value the family working in the business at a commercial wage.
18:13
Quite often, they're not paying themselves that.
18:15
They're reinvesting that money into the business, which is, is a valid strategy for, for businesses at different periods in time.
18:21
If it's, we think if the business has to do that across generations, then that's a, um- ... an alarm bell so that the cash return is likely to be higher than what we state here due to that difference in terms of what people are valued at and what they're paying themselves.
19:45
What things would you recommend to producers listening that they start to look at in their business right now that, that could help them achieve that sort of $2 per kilo or under?
3:53
So, sir, what do you want to tell me? Background?
3:55
So, yeah, I mean, we met in November 2013.
3:57
We sort of hit it off right away.
4:00
She is 23 years older than me.
4:04
You know, I still found her to be really attractive for her age.
4:07
You know, it wasn't anything else than that.
4:09
And so we dated for a couple months, and then I moved in.
4:57
Go ahead.

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