Question is did costs go up? Because minimal value to profit....

Question is did costs go up? Because minimal value to profit.

Metrics missing are remaining cattle higher value and weight?

Did their high costs of production feed into fewer fatter cows with more valuablable wagyu beef?

Hence $230M increase in fair value adjustment of AAC herd!!!

They stored their operating profit back into the businesss i.e. the cows so next half has even better results when this unrealised adjustment goes through the meat grinder?

At the same time their are getting quality brand recognition and commanding a higher premium for Livingston Wagyu beef?

That is the unexplained story....