content_image/163287.jpg content_image/163292.jpg content_image/163291.jpg
## OPERATING AND FINANCIAL REVIEW (CONTINUED) 

## 3. Cattle Operations (continued) 

Kilograms produced during the 31 March 2013 quarter were 8.5 million down from 11.1 million kilograms produced in the prior corresponding period. The lower kilograms produced was largely due to the dryer conditions affecting all large trading herds. 

## Wagyu cattle 

The herd continued to add value and perform well. External Wagyu sales also proved profitable. 

## Herd 

The herd composition is shown in the table below: 

<img src='content_image/163287.jpg'>

The age profile of the productive bulls and productive cows is shown below: 

<img src='content_image/163292.jpg'>

<img src='content_image/163291.jpg'>

The drier conditions have meant that the Group faced higher operating expenses, including increased water pumping costs, in the 3 months to 31 March 2013 than in the prior corresponding period due to the earlier start of cattle and cropping operations. 

