Probably some realisation that the drought over here in WA is going to bite into anticipated earnings in their Elders Rural arm. Its pretty serious over here. This rain on Thursday is just in a nick of time for the rest of the Wheatbelt which is on the brink of crop deaths. There is no pasture growth hence livestock continues to be dumped. Meaning livestock volumes following this drought dumping will be well well down going forward. These stocks are leveraged to the agricultural boom but equally leveraged to the risk of drought. The only ag stocks immune to drought are fertilizer producers as they can offload their commodities on global markets.
FCL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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