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Livestock ID bankable security
2 Nov 2004
The controversial and as yet no more than proposed national livestock identification scheme may help livestock producers obtain easier access to finance. Peter Jacobs from ANZ Bank said that producers who use any livestock ID scheme would be more likely to get loans, using their herds as security. Jacobs said the ability to trace a beast from birth would give financial institutions greater confidence in lending money. "That will just allow us to operate with confidence: the animal we initially lent against, be it any stage of its production cycle, is the animal that ultimately got sold. It is about staking our claim: we had a right to that asset."
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