Salmon sales are up circa 25% to 11,500 hog tonnes with stable trading conditions in the domestic market and an outperformance of the export market (noting export is on average a lower margin than domestic).
Domestic wholesale pricing has remained stable during Q1. Strong growth in export sales volume (up circa 148%) and pricing returns (up circa 20%) which has more than offset domestic wholesale volume impacted by New South Wales and Victorian COVID‐19 restrictions, ensuring increasing bottom‐line returns areas targeted for FY22
Finished goods stock holding levels for salmon and prawns at 30 June 2021 have reduced by circa 1,500 hog tonnes and 1,000 tonnes, respectively.
I thought China prices would be providing higher margins than domestic last month at least, but they do say, 'on average', so expect its still relatively close. Good to get some numbers on finished goods, but havent looked to see how much the reduced stock improved cashflow terms yet (havent even had coffee!).
TGR Price at posting:
$3.59 Sentiment: Buy Disclosure: Held
