Its terrible what has happened and I guess it will take years to fully recover.
I do however think the selloff might be a bit overdone so I just bought back into the stock this morning.
The last balance sheet valued approx 500,000 Cattle at $514K so assuming they have lost 30,000 cows + calves that might cost them say $40M- $50M.
Offsetting some of that in the future should be lower feed costs plus higher beef revenue per kg due to less supply.
The SP has dropped from $1.12 to .93 cents in a week which means the market now values the company $114M less than it did a week ago.
I am no expert when it comes to the impact this will have if it was all breeding cattle that were lost and what impact that will have but it does seem worth a small punt at this level.
Bad news for QLD cattle families, page-19
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Last
$1.38 |
Change
-0.020(1.43%) |
Mkt cap ! $852.9M | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.41 | $1.37 | $290.7K | 209.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 82812 | $1.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.40 | 2730 | 1 |
View Market Depth
| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| AAC (ASX) Chart |
