Ann: ING Business Update, page-2

The above explains in greater detail what 'The Australian' says this morning:

"...Beef, chicken, pork and lamb suppliers have also been hit hard with worker shortages, with Coles and Woolworths forced to reintroduce buying limits on certain products in stores last week.

The Australian Chicken Meat Federation said major chicken processing facilities were operating with only 15 to 40 per cent of required staff, significantly impacting their ability to produce and process chickens.

ACMF executive director Vivien Kite said changes to isolation requirements would help to solve some staffing shortage issues, but called for producers impacted by supply chain problems to be given priority access to rapid antigen tests. “The ACMF strongly supports the position taken by AHPPC,” she said.

“We urgently need to get staff back to work who are not positive and not symptomatic.

“There are plenty of chickens out on farms, but just not enough people to pick them up, process them and distribute chicken products to stores.."

I wonder whether ING's key competitor Baiada Poultry (Steggles) is being affected? Logic suggests 'badly'.

Anyone who's been to a WOW, COL, MTS' IGA or (horrible) Aldi recently can't fail to have noticed the lack of fresh chicken products.

Having previously sold ING, I'm considering whether to again enter but the SP would need to drop to below A$3.40 in my view. Maybe today is that day, as 'Mr Market', grumpy old sod that he is, dislikes uncertainty with the company announcement featuring that in spades.