Elders Newsletter Edition 3 January 2021

ELDERS ALBANY South Stirlings Harvest Photo By Edwin McQuade NEWSLETTER Harvest By Hannah Gaffney EDITION THREE - JANUARY 2021 Branch Manager Update As we move past the end of 2020 and the Christmas break – we have to say it has been a very different year than any other. With the start of the year having been so dry and the lack of water in the eastern part of the south coast. The season looked to be one of the worst in many years. Then in March covid 19 was upon us and the whole state closed down for 3 months. As the year continued the rains came in August – the virus was under control – Livestock prices improved – land values went to levels never seen before – interest rates at a all-time low - and the season turned around. 2020 will turn out to be a pretty good year. At the Albany office we have extended the shed space. We will be building an out door under cover loading area for customers. This will allow clients and trucks to be loaded / unloaded out of the weather. The Boxwood Store has been upgraded and we will continue to increase our stock lines in the coming year. The team at Elders remains committed to service all our clients over all the products of the business. From all the staff at Elders we hope you all had a very Merry Christmas and a great 2021. Insurance Agent Profile – Gordon Russell Elders Insurance Albany is a locally owned and operated Agency headed by friendly, professional agents – Gordon Russell, Scott Weaver, Jason Loveridge and Craig Anning who combined have over 50 years of experience in the insurance industry. With trust and transparency at their core, customers have come to know and appreciate the special brand of personal service provided by the Albany team. Gordon Russell has been part of the business for over 6 years. He thoroughly enjoys working alongside the other three agents who together pay great attention in collaborating on customer’s insurance needs and business solutions. With previous experience in the finance industry, Gordon relished the opportunity to work in the insurance field, noting the previous knowledge obtained plays a significant role in allowing him to provide detailed insurance advice. Gordon strives to make insurance straight forward and transparent. This enables clients to obtain a clear understanding of their needs and provides a less daunting experience in dealing with varied options and requirements. Aware of the region’s diversity, Gordon knows the importance of taking the time to understand every client’s unique situation. Providing that personal touch is what Elders Insurance Albany’s reputation is built on. Home, Business, Commercial Motor or Farm Insurance are among the many policies Elders Insurance offer with their professional service and insurance advice catered to suit your needs. ONE

ELDERS ALBANY NEWSLETTER Agronomy Update 2021 With harvest starting to wind up into Christmas I would like to thank all of the clients that I have worked with this year, it has been a challenging season and for the most part an extremely kind finish to the season has given us a get out of jail card and many harvest results that I have heard of were surprisingly good given how tough the start was. Canola results have been very good with the Hybrid varieties showing us again their resilience and ability to compensate yield with a bit of finishing rain and cool spring temperatures. There have been a few hiccups with some companies hybrid seed production, unfortunately some varieties have failed seed production so we are reviewing client orders and trying to ensure that we have everyone covered. Some frost has affected weight in wheat and barley crops but yields have been generally ok, the very late frost did seem to affect the longer season varieties worse than the shorter ones so Murphy’s Law has definitely been invoked. Summer forage crops are starting to hit their straps, especially where they were established into moisture in September/October. It is a great way of filling the Autumn feed gap once stubbles have run out of puff and it doesn’t take many lambs or steers to pay for $40-$60 per ha seed costs. Most brassica forage crops needed a spray for DBM as they exited the canola but they have largely been controlled now as beneficial insects build up and crops get grazed. Several paddocks will have stocking rates of 30-50 DSE that will finish lambs onto trucks in the next couple of months. Banker Sorghum has gone from seedling in early October to the second photo taken on 21st Dec and ready for grazing once it has grown past 50cm high Real Estate Update You would have to have your head in the sand to have NOT heard the buzz around the real estate market! Even though the media generally like to make things sound a lot more exciting than they really are, in this case it is actually true that we are in what is likely the strongest market for many, many years. After 12 years of a weak, declining market following the GFC in 2008, the residential market is really booming, and according to old hands in the industry is the best it has been in at least 30 years (including the pre-GFC boom.) Properties have been selling very fast, in many cases at or even above asking price, and often with multiple offers being submitted. It is the age-old situation of supply and demand, where we have very limited supply, and probably the best demand ever seen. Sales began to increase at the very tail of 2019 and into early 2020, with stock levels approximately 20% below the seasonal norm. When Covid came along a large portion of stock was pulled from the market and supply just about dried up, dropping another 20%. Since June the market has been going ballistic, and stock is down another 10% (so 50% below the norm) and importantly an estimated 50% of stock on the market is under offer. This has translated in some areas to increasing prices, though this is not true in all sectors. Importantly, we have seen excellent sales activity across Albany, Denmark, Mount Barker, Kendenup, Bremer Bay, and areas between, in both residential and lifestyle properties. So what is driving this??? Short supply as noted above; rentals throughout the state are just about non-existent which has brought investors back in strength, as well as more purchasers; and one of the biggest factors – Covid refugees. Everyone has realised how good the south west is, on top of which if you want to get away from populated areas (and to somewhere amazing) then the south west is a great bet. We are dealing with a huge number of people from regional WA, Perth, and even interstate, and are seeing a number of properties selling sight-unseen. From the real estate team, we wish you all an amazing 2021,and ask you to contact us if you need help with buying or selling, or just need advice. TWO

ELDERS ALBANY NEWSLETTER Rural Bank Update Rural Bank is here for our farmers, their families and everyone who makes our rural communities grow and thrive. This year, we’re proud to continue our support of the next generation of agricultural leaders through our 2021 scholarship program as well as shining a light on great Australian agriculture stories through our Beyond the Gate podcast. Rural Bank has been supporting up and coming next generations of agricultural talent for more than 25 years. This year, Rural Bank’s Scholarship Program will support up to 15 first-time tertiary students looking to pursue studies in agriculture, agribusiness or related fields and who are passionate about making their contribution to the success of Australian agriculture. For the first time, the program has been expanded to students studying certificate, diploma and associate degree courses as well as students studying bachelor’s degrees. The Rural Bank Scholarship Program supports students’ study-related expenses including accommodation costs, course materials and education related travel. Each scholarship is valued at $5,000 per year and, subject to academic performance and duration of course, the scholarship is extended for a second year of study. Applications for the 2021 Rural Bank Scholarship Program are open until 27 January 2021 and more information can be found on the Rural Bank website at www.ruralbank.com.au On National Ag Day, Rural Bank also launched its podcast, Beyond the Farm Gate, which shines a light on great Australian stories in agriculture. Now into their third episode, hosts Matt Ough and Annie Herbert interview farmers who have faced challenges like fire, flood and drought, farmers who run innovative and unique agribusinesses, and farmers who are young, just starting out, or balancing work and family in rural Australia. Beyond the Farm Gate is now available on all major podcast platforms, including Apple Podcasts and ......... Spotify, with episodes released fortnightly. To learn more and to listen, visit the Rural Bank website: ..... www.ruralbank.com.au/podcast Contact Us Today Stacey Evans – 9842 7949 Adam Powell – 0427 700 848 Sabina Moir – 9460 4029 Trevor Jasper – 0439 649 453 Jess Nottle – 9842 7915 Livestock Update January 2021 As the season now moves from spring to summer, Elders’ focus shifts to marketing of this The south coast continues to enjoy a different style of year’s turnoff of lambs and weaner cattle impartiality. The other important activity is of course fodder conservation of hay and silage for livestock production and harvest season and market during the spring 2020 period. With a very tough autumn and winter behind us, we have for our grain growers. experienced good spring rain to get the season back on With livestock selling at or above all-time records and the restocking of large areas of the track and with lambs responding well to the spring fl ush eastern seaboard in full swing, competition is very strong across all livestock markets. In this year of COVID-19, Elders’ extensive branch network has proven more valuable than ever of feed. with strict travel restrictions meaning large numbers of In early spring, we saw prices soften due to the traditional spring fl ush of ewes and lambs onto the livestock have been sold by description to purchase that have only seen videos or photos. market. But, with strong eastern states enquiry, we experienced price Interest from interstate has been very strong and at present shows no change in the near increases for mutton and lambs in October which is future. With current values, the difference in the value of weaners from your best cows extremely unusual for that time of the year. Breeding ewes continue to sell at very high levels being to the worst has never been greater. underpinned by eastern states buyers and local buyers As always, don’t hesitate to contact now requiring replacements. Trade lambs are selling well one of the local Elders livestock specialists should you require marketing, with forward prices being offered for the Christmas breeding or purchasing advice or assistance at any time. delivery period. Shipping sheep has been very slow this season so far, with few boats and prices at a level that only make them just competitive with mutton and hogget processors. Store lambs have been very sort-after this spring with large numbers going east. David Lindberg Nigel Hawke Clark Skinner Jai Newman Dean Wallinger Elders Albany Elders Albany Elders Albany Elders Mount Barker 0439 443 497 0439 443 497 Elders Cranbrook 0427 920 929 0428 818 400 0409 820 263 THREE

ORDER YOUR PASTURE SEED @ ELDERS ALBANY Elders Albany will have stock of a selection of released varieties that we believe are best suited to the South Coastal region for the 2021 season. Arriving in store in February, these volumes will be snapped up quickly, so we suggest you get your order in as early as possible in the New Year to guarantee supply. The varieties included have been selected based on local knowledge in conjunction with in-field demonstrations held in this region for multiple seasons. Quality blended mixes, straight ryegrasses, clover and forage seed will be supplied from Barenbrug Seeds, PGG Wrightson and Seedforce. See a sample of the mixes we will be stocking this year. For information on all seed types please ask in store or contact Russ, Hannah or James to have a copy sent. Wealth West Wealth West has now replaced the former trading name of Elders Financial Planning Albany and is still in the Elders building Albany. Trevor Garland and his team will continue to look after existing and new clients. The address and phone numbers remain the same however the email address is [email protected]. He welcomes the opportunity to discuss your financial planning needs. Elders Albany If you wish to opt out please contact us and let us know. P: 08 9842 7900 Email: [email protected] 189 Chester Pass Road Phone: 08 9842 7900 E: [email protected] F: Elders Albany Or let us know when you are in store. FOUR