Eggcellent, page-103

That was my initial thought as well, which would put flock purchase cash out in working capital.

What changed my mind is going through note 6, where you have (separate from COGS line), fair value movement in poultry as a separate expense - which equals exactly the amortisation of of flock in note 13. Then the question was OK if this is listed here as a build up of the expense - where is it in the P&L. It isn't there (again cant be COGS as COGS is listed separately and reconciles to P&L).

So its not a cash expense, it isn't in depreciation. So I'm only left with the assumption that they are self raised - they have a value so hit the balance sheet, and they amortized at effectively the same rate so there is no P&L impact.

Trying to think logistically, I'm not sure how practical it would be to receive constantly orders of chicks the right age. And being an egg farm, surely it makes sense to supply your own.

Like you, I'd love someone more familiar with the industry to confirm