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Severe flooding in northwest Queensland damaged three cattle stations, but all staff are safe, and the company says financial impact is manageable despite no flood insurance.
Severe flooding in northwest Queensland has impacted three cattle stations—Carrum, Dalgonally, and Canobie—owned by Australian Agricultural Company, prompting concerns over livestock losses, though all staff and families are safe.
The company, which holds about 55,000 cattle across the affected properties, cautioned against comparing the event to the 2019 floods that killed an estimated 457,000 cattle and caused $47 million in losses, citing differences in weather, cattle numbers, and market conditions.
No flood insurance is carried due to high costs, but the company affirmed its financial position remains strong despite a likely material impact.
Favorable weather continues across its other operations in southwestern Queensland and the Northern Territory.
Shares fell 2.4% to $1.42 in early trading.
Las inundaciones severas en el noroeste de Queensland dañaron tres estaciones de ganado, pero todo el personal está a salvo, y la compañía dice que el impacto financiero es manejable a pesar de no tener seguro contra inundaciones.