| |
|
|
|
GROUP |
|
COMPANY |
|
| |
|
|
|
2005 |
|
2004 |
|
2005 |
|
2004 |
|
| |
|
|
|
|
|
Restated |
|
|
|
Restated |
|
| |
|
|
|
Rm |
|
Rm |
|
Rm |
|
Rm |
|
13.
|
BIOLOGICAL ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
Livestock |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of changes in carrying |
|
|
|
|
|
|
|
|
|
|
|
value of biological assets |
|
|
|
|
|
|
|
|
|
|
|
Balance at the beginning of the year |
|
|
99,3 |
|
80,1 |
|
|
|
|
|
|
Purchases |
|
|
298,9 |
|
223,2 |
|
|
|
|
|
|
Production and allocated overhead costs |
|
|
178,4 |
|
133,7 |
|
|
|
|
|
|
Sales |
|
|
(444,2) |
|
(339,5) |
|
|
|
|
|
|
Mortalities |
|
|
(0,2) |
|
(2,0) |
|
|
|
|
|
|
Gains arising from change in fair value |
|
|
6,1 |
|
3,8 |
|
|
|
|
|
|
Balance at the end of the year |
|
|
138,3 |
|
99,3 |
|
|
|
|
|
|
The group operates two feedlots, which purchase weaners and convert them into
slaughterready cattle. Cattle are valued at current market prices per
slaughtered kilogram. As the cattle are sold over a period of four months, the
significant assumptions made relate mainly to changes in market prices,
calculated average daily growth and attrition. |
|
Allowances are determined based on historical information. Significant assumptions used in the valuation of the livestock are consistent with the prior year. |
|
Commitments relating to cattle are minimal as purchases occur weekly, depending on availability. |
|
The main risks relating to cattle are theft, disease and a volatile market price. |
|
Financial risk management strategies comprise controls in respect of property security, branding of all cattle, vaccinating and dipping of cattle. |
