Why would you short Tassals *now*?, page-260

Yep, not much to see there really.

I mean the good news is that the global price is bouncing off the lows in NOK - not going any lower at least, and is around 5-10% above the absolute lows. If you look at it in USD it is doing much better, because the greenback has been obliterated this year (turns out you can't just print money forever with no impact on currency, but they'll be happy with that result). If however you look at it in AUD, well like with all exports, the appreciation in the Aussie has pushed prices down in local currency. This at least seems to have plateaued for now (+$100bn from RBA helps) against the USD, NOK and EUR.

I suspect we are at the bottom of export prices. Just not sure how much of this was hedged by Tassal, and whether there is any lag in prices vs receipts (e.g. are they on the spot market, or do they have forward dated contracts). Any ideas?