i am getting a bit less confident about the outlook for namoi -...

i am getting a bit less confident about the outlook for namoi - seems they will have to finance a lot of margin calls due to prices rallying so hard ( they wont be responsible for many of the losses but they normally do have to finance, at least ) and the extra costs of financing cotton as it makes it way to spinners will also be significant ( due to high prices and possible delays in ginning due to potential big crop )


crop outlook should still be big but there is damage and some uncertainty -normally damage is not as bad as you hear but these are extraordinary times and more rain forecast soon!

i have unloaded about one third of mine lately, after tipping a fifth out near 60c a while ago ( another stock which i should have sold while they were hot!)