Whether we like it or not, AAC is now a net purchaser of live cattle and net seller of prepared beef. Case in point, in 1H17, live cattle sales represented just 9% of group sales. Therefore, AAC's earnings are now largely determined by the margin between cattle buying costs (the EYCI index) and beef sales prices (the US90CL index). The attached chart shows (I hope its attached!!!) AAC's effective cattle buying costs for its Livingston Abattoir, ie the EYCI index, versus its effective selling prices, ie the US90CL index. Given the negative margin, clearly Livingston is struggling to make any cash in the current pricing environment. Could this be the reason why Joe Lewis' right hand man is now required to be involved in the day-to-day management of AAC?
Ann: Appointment of Executive Director, page-5
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Last
$1.37 |
Change
0.000(0.00%) |
Mkt cap ! $852.9M | |||
| Open | High | Low | Value | Volume |
| $1.36 | $1.38 | $1.36 | $362.3K | 264.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 74917 | $1.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.38 | 430 | 1 |
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| Last trade - 16.10pm 26/11/2024 (20 minute delay) ? |
| AAC (ASX) Chart |
