Tom & Mick: Livestock, Markets and the Power of Relationships with Michael Spencer

Michael Spencer has spent more than 30 years across livestock agency, corporate agriculture, cattle processing and pastoral operations, including roles with Elders, AACo and Bindaree Beef before helping build Adcock Partners. In this episode of The Tom & Mick Show, Michael joins Tom and Mick to unpack what good livestock agency actually looks like, why Adcock Partners deliberately operates under the radar, and what he is seeing across cattle markets from northern Australia through to the eastern states. They discuss:  Michael’s unconventional path through Elders, AACo, Bindaree Beef and into Adcock Partners   Why relationships and people remain the foundation of a strong agency business   Building a business around agility rather than corporate complexity   Why Adcock Partners has deliberately stayed relatively quiet and selective   How livestock agency has changed over the past 30 years   What good service looks like when clients span enormous distances   Seasonal conditions across Queensland and the Northern Territory   Why producer confidence can move cattle prices quickly   The relationship between live export and domestic cattle markets   Why live export remains critical to northern Australia and Indonesia   What Michael expects from cattle markets heading through spring and into 2027 Chapters 00:00 Introduction to Michael Spencer and Adcock Partners 05:24 Michael’s path from Melbourne to livestock agency 12:41 From Elders and AACo to Bindaree 18:05 Building Adcock Partners and the business philosophy 23:34 What good livestock agency service looks like 29:48 Seasonal conditions across northern Australia 35:12 The cattle market and influence of the farmer 40:36 Live export, Indonesia and changing cattle markets 46:18 What happens next for the cattle market 50:20 The Charbray question and wrapping up