Ann: Results of Meeting-FRM.AX, page-48

There are many examples of industries that have multiple participants with no key differentiation, that exist in a growing market, where everyone has had to invest to become more productive, but all that has happened is that the consumer has won. The competitors have grown, but have gotten poorer. That's what competition tends to do, unless a few of those competitors have some kind of competitive advantage.

Only free range has any investment. That's why it might be prudent to see what comes of this spring in the hy report. I wouldn't think the sp will run away anytime soon. I think a lot of people might have bought in because the line was moving up and now see it going down and sell.

It was alleged that there was cartel behaviour to increase or maintain margins. It got knocked back in the end but I would guess the big players know what the hard times were like and another pricing war is in nobody's interest.