The company is in the process of setting up offices in the Middle East and Brazil to spread the risk of its significant investment in the livestock export industry.

Wellard general manager Steve Meerwald said the move reflects the group’s vision of developing a global livestock business.

"The company is looking to formulate a complementary suite of businesses around the world," Mr Meerwald said.

"It adds diversity to the risk profile of the business and creates opportunities for access to and from markets that aren’t only available from Australia and New Zealand."

Some corners of the industry have expressed concern at the move, particularly the interest in Brazil.

Sources said they would be concerned if Wellards started exporting cattle out of Brazil to Australian markets.

One of Australia’s major export markets, Indonesia, is a cause of that concern.

It is one of WA’s biggest customers for live cattle and is currently free from Foot and Mouth Disease (FMD).

Brazil has been quarantined in the past for FMD. Mr Meerwald said the move to Brazil was not to target Australian markets.

"There are currently 250,000 cattle being exported out of Brazil," he said.

"There are a range of vessels with a range of participants exporting out of that country.

"Some of those participants are working at a good or reasonable standard and some less so.

"We have had participation in that market through one of our smaller vessels operating from Brazil to Venezuela for the last 12 months, but we have not being involved in any trading.

"Our foray into that market is based on the fact that it is a significant beef and livestock export market and there are opportunities in agribusiness there that we would like to explore.

"The more we have at stake the more risk there is if the only market we are focused on is Australia, but that is not the sole driver, it is part of the overall strategy and that strategy is to develop a global livestock business.

"We are also looking at breeding projects to satisfy some of the shortfall in production of sheep in Australia at the moment."