Adman Harold Mitchell buys another Western Australia cattle farm

Veteran advertising industry media buyer Harold Mitchell has spent $4.3 million on another Western Australia cattle station through Elders agent Graeme Macarthur.

The 177,100 hectare holding is in the Kimberley region of Western Australia with 6000 head of cattle.

 “This is the best time ever to get positioned,” Mr Mitchell told The Australian Financial Review.

“We can see a turnaround, there is no doubt about it,” he said which has been interpreted as calling the bottom of Australia’s cattle station market which was hurt by Indonesia live export trade difficulties.

The AFR says Australia’s cattle station market had collapsed under a multitude of pressures including high debt, the then high Australian dollar and a drought.

The dialogue with Indonesia are progressing.

“I am confident that relations are improving between the two nations,” Mr Mitchell said.

Mr Mitchell owns and operates several cattle stations with business partner and Seven West Media director Doug Flynn.

In 2011, the pair snapped up the 274,000-hectare Bulka Station adjoining their Yougawalla Station,also in the Kimberley, for about $9 million.