Pipe - true but a week old.
I saw a chart the other day that said its P/E prem to the ASX 200 was 3sd's higher than average i.e. expensive on an relative basis.
I note WES doing well so probably some rotation.
Personally I think new entrants (Aldi / Costco) will harm the duoply. Its just a hunch but if conditions worsen saving 20% (or whatever) on staples will seem attractive to a greater % of the population. A certain % of the population seem happy to queue for cheap petrol on Tuesdays and I dont see why the same mentality wont expand to food.
why the drop today, page-10
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