November 28, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

In May 2023, Hancock Agriculture acquired Moolan Downs and Ottley Station from Packhorse Pastoral for approximately A$80 million (US$52 million), as part of a wider restructuring of the group’s portfolio and focus as it looks to expand its Wagyu beef operations.

Hancock Agriculture explained that its east coast Wagyu business represents the largest Fullblood and Purebred Wagyu herd in the world, ranking 14th on Beef Central’s Top 25 Lotfeeders list this year with a capacity of 22,800 SCU across New South Wales and Queensland. At the time of the Moolan Downs and Ottley acquisitions, the company noted that it will continue to grow through greater production and the addition of broadacre cropping properties. And that’s exactly what it’s doing.

The group’s latest announcement is its acquisition of the 1,981-hectare (4,895-acre) Split Rock Dairy located north of Manila in the Tamworth region of New South Wales. Now to be rebranded as Buena Vista, the asset includes irrigated and dryland cropping operations with 366 hectares (905 acres) irrigated through 11 pivots, and will be integrated into the Hancock portfolio where it will complement existing backgrounding properties, such as Ottley and Moolan Downs. 

Hancock Agriculture is a division of Hancock Prospecting, which is majority owned by Gina Rinehart, founder and Patron of National Agriculture & Related Industries Day, held each year on November 21. 

And as it refines its holdings and business, Hancock stated that it remains dedicated to being an industry leader and is committed to retaining and growing its remaining substantial portfolio, which includes holdings across Queensland, South Australia, New South Wales, and the Northern Territory.

The company’s multiple branded premium beef products lines, including its 2GR Wagyu, are sold on both the domestic and international markets. And with the knowledge that “happy, healthy cattle are the best cattle”, Hancock Agriculture has undertaken an extensive and comprehensive capital works program across its assets for improved water storage and distribution infrastructure, the addition of innovative technologies including digital communication networks and connectivity, and a focus on attention to animal welfare, the improvement of cattle herd quality, and employee safety. 

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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