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Mac Bank chases sheep
12 Jul 2007
Macquarie Bank has kicked off a $1 billion rural investment plan with the purchase of Pooginook Merino Sheep Stud in central NSW. Over the next 2 to 3 years the bank aims to buy over 300,000 cattle and 300,000 sheep to cash in on growing world demand for red meat. A spokesman for the bank said that they expect the volume of beef imported by Asia to be more than Australia's total production. The Pooginook property has been owned by the Taylor family since 1921 and is one of Australia's largest ram producers.
Daily Telegraph, 12/07/2007
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