It doesn't matter anymore who (Synlait, A2, Bright) owns the stainless steel - farmers are voting with their feet. The reported conga line of farmers heading back to Fonterra is long and distinguished. Milk is shrinking in NZ because of environmental rules, so supply risk isn't "who owns the stainless steel and the certificates" it is "who can manage to secure their share of milk".
Even MVM will probably have trouble retaining milk as Fonterra's milk price, earnings and revised capital structure is pretty attractive for farmers. The co-operative model in NZ dairy processing typically ends up grinding everyone else into dust.
Supply Side for A2M secured or not ?, page-13
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Last
$6.99 |
Change
-0.110(1.55%) |
Mkt cap ! $5.053B | |||
| Open | High | Low | Value | Volume |
| $7.10 | $7.15 | $6.92 | $7.476M | 1.069M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3309 | $6.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.00 | 27375 | 11 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$7.00 |
Change
-0.110 ( 2.00 %) |
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| Open | High | Low | Volume | ||
| $7.09 | $7.11 | $6.91 | 385574 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| A2M (ASX) Chart |