It doesn't take much volume to change the price direction.
It was sold down too low IMHO, the market is all over the place assigning a value to this company.
There has been some material changes in market conditions that will see the company through this current period.
1. The salmonella outbreak in Victoria has seen a large number of birds culled. What has occured is on a scale significant enough to cause market over supply to dissipate. 2. Grain situation has improved with more grain available in the eastern seaboard than previously assumed. Feed cost has eased perhaps as much as 15% 3. African swine fever outbreak in China is unprecedented and will see a global shortage of proteins.
FRM Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
