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Speaker 1: And for Jamie mckaye, we have Hamish MacKaye, Hello, Hamish.

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Speaker 2: Hello, here it's the bo duke. And for Lupchuke really yeah,

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Speaker 2: but it's a little bit no relation, a no relation

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Speaker 2: different spelling in Machais that we all got off the

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Speaker 2: same boat and has just claimed that they were smarter

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Speaker 2: and kept the spelling correct. Where his mind drop drop

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Speaker 2: the A after the M.

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Speaker 1: So well, it's because you guys were smart and efficient,

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Speaker 1: he though, we don't need that A. Get rid of it.

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Speaker 2: That's right, that's right, exactly, it's all about efficiency, that's right.

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Speaker 1: All those a's over a lifetime, they really add up.

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Speaker 1: Now anyway, listen Frontierra, I see is doing the road

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Speaker 1: show to sell the big consumer brands stuff to the shareholders.

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Speaker 1: Are they liking what they're hearing?

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Speaker 2: Yeah? I don't think there's going to be the first

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Speaker 2: of the road shows in Songiray. Last night it appears

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Speaker 2: that all were in favor. Some good questions coming from

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Speaker 2: the floor about the length of supply of fonterra and milk.

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Speaker 2: I guess you know the ingredients end of things, and

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Speaker 2: you know that's a that's a keen year contract and

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Speaker 2: it can't be broken. About a first six months notification

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Speaker 2: after seven years, so that's a fair bit of time

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Speaker 2: that lack. Carlos will take this milk without any question.

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Speaker 2: And at the end of the day, I think these

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Speaker 2: guys realize the consumer business, the mainland, the anchor, the capity,

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Speaker 2: the press and fruity, the perfect at Taliano and all

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Speaker 2: that was bringing about a three percent return on capital

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Speaker 2: these days, whereas your ingredients and your food service you're

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Speaker 2: straightforward more milk and powder and things eleven to thirteen

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Speaker 2: percent average for the last four or five years. So

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Speaker 2: there's not too much in the way of descent around US.

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Speaker 2: October seventh of vote happens. It'll be Q one next

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Speaker 2: year before it's all sort of finalized. But yeah, it

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Speaker 2: looks most even the smallest of farmers doing one hundred

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Speaker 2: thousand kilograms say of milk sides are going to thank

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Speaker 2: to three hundred k. So I think it's probably a

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Speaker 2: bit of a no brainer and will be well received,

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Speaker 2: certainly not pitching it well put it that way.

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Speaker 1: Yeah, well it's quite enticing that level of money. Look,

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Speaker 1: on the subject of money, is the price of the

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Speaker 1: sheep in the beef land unsustainable?

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Speaker 2: Oh? Look, I think so. There's been a wonderful article

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Speaker 2: written by the renowned Lincoln University professor Keith Woodward, and

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Speaker 2: he said in his excellent article on this topic, Houston,

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Speaker 2: we have a problem. It's a pretty big problem to

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Speaker 2: look it. It reflects the housing market a bit when

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Speaker 2: interest rates drop and everybody goes booga and goes crazy

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Speaker 2: and stupid. You know, some of these land prices now,

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Speaker 2: despite these great farm gate returns, there's very good returns,

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Speaker 2: you know, two hundred and ninety two dollars for lambs,

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Speaker 2: hoggets and things, you know, things that not that long

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Speaker 2: ago were seventy and ninety dollars. But at best, the

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Speaker 2: return on capital is still only one to two percent.

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Speaker 2: So who can afford to buy that? You're one of

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Speaker 2: four siblings wanting to buy out the other three. You

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Speaker 2: haven't got to open how the bank's not want to

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Speaker 2: give you the money to do that. It's just unsustainable really.

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Speaker 2: But we're going to have a bit of a crisis

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Speaker 2: here because the average age of sheep and beef farmers,

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Speaker 2: and I don't doubt this for a minute, it was

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Speaker 2: about fifty eight to sixty. So a lot of them

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Speaker 2: are going to be wanting to get the cash and

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Speaker 2: out of it. So it raises the question, you know,

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Speaker 2: what are you know, surely there's some excellent models out

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Speaker 2: there where you by your leave equity and yet young

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Speaker 2: people come in and take the land to the next level.

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Speaker 2: And there's all sorts of it. But it has got

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Speaker 2: a bit, you know, it has got a bit top

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Speaker 2: heavy in terms of those you know, twelve thy fifteen

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Speaker 2: thouers of the heck there, I mean, that's running away

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Speaker 2: with it.

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Speaker 1: Sounds like any listen, you're going to go to that

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Speaker 1: sharing competition.

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Speaker 2: Oh, I'll be the one I'll be lining up is

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Speaker 2: the World Champs at the Golden Shears in March. I'm

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Speaker 2: going to be there. Nobody's going to stop me from

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Speaker 2: being there. Alexandra starts this week, so that's Golden Cheers

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Speaker 2: Mastered and the first weekend of March World Champs. So

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Speaker 2: that's going to be fantastic. But it all kicks off

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Speaker 2: really this weekend because there's only two places in the

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Speaker 2: New Zealand team available to compete at the World Chance.

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Speaker 2: So they have a series of about five events through

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Speaker 2: to then and the one guy you can guarantee will

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Speaker 2: be the rating Golden Cheers Champ Victor Henderson. But the

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Speaker 2: rest of them, the likes of Jack Fagan and co.

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Speaker 2: They'll be competing for the other spot. So starting Alexander.

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Speaker 2: It's just got a nice ring about it, you know,

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Speaker 2: the Marino she is there and alex I like the

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Speaker 2: sound of that. There'll be you know, hundreds of people.

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Speaker 2: It's a great If people have never been to a

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Speaker 2: sharing event, they should go. You get you get quite captivated,

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Speaker 2: quite captured by it.

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Speaker 1: So you had a lot of good arms on display.

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Speaker 2: Yeah, oh yes, yes, there are some there. Yeah yeah, yeah,

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Speaker 2: look yeah, I look. I wouldn't dispute that one like

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Speaker 2: I might have had thirty years ago.

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Speaker 1: Oh yeah, yeah, it will you know, life Dole's Hamish.

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Speaker 1: You can always get back here.

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Speaker 2: You can't could get them back. You know. I've been

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Speaker 2: scammed as one of those things. I'm selling some weight

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Speaker 2: loss pills apparently on Facebook one and the body they

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Speaker 2: put me on the arms is quite good. I take

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Speaker 2: those arms. They're sharer's arms. Okay, well now we're.

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Speaker 1: All going to go google that, aren't we, Hamish, Thanks

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Speaker 1: very much, Hamish MacKaye. Remember if you want to google

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Speaker 1: Hamish Mackay weight loss pills arms is without an eighth.

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Speaker 2: For more from Hither Duplessy Allen Drave, listen live to

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Speaker 2: news talks it'd be from four pm weekdays, or follow

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Speaker 2: the podcast on iHeartRadio