Bull Stoneburn Giant 79, Lot 8, fetched the highest price of $14,000 at Stoneburn Herefords' annual bull sale in East Otago. Photo / Shawn McAvinue
The move would allow his annual sale to continue to offer Hereford and Angus bulls.
To start the Angus stud, he had bought 35 Angus heifers and about 30 Angus cows.
Most of the cattle were from farms in the North Island, including Stokman Angus in Rotorua and Merchiston Angus in Marton.
Some of the Angus cattle were bought from Meadowslea in Fairlie.
Breeding bulls required "plenty of hard work and investment" but getting positive feedback from vendors made all that hard work worthwhile, Denham said.