Page 5 discusses 'a promising recovery in livestock prices'.
This is apparent from a quick look at the Eastern States' Young Cattle Indicator compiled by Meat and Livestock Australia.
The low 1H 24 NPAT and consequent cut in the dividend from A$0.23 to A$0.18 has arguably already been baked into ELD's SP.
Notably, GNC recently had a similarly unimpressive result with NPAT down to A$50 million, but it kept its dividend at A$0.24cps.
The major concern I have (apart from crop input prices) is the situation in Western Australia where it's very dry. The Federal Labor Government's mandatory cessation of live sheep exports is also most unhelpful.
It's positive that on page 11, ELD says April 2024 trading is ahead of April 2023's.
Page 5 discusses 'a promising recovery in livestock prices'.This...
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Last
$8.11 |
Change
-0.140(1.70%) |
Mkt cap ! $1.276B | |||
| Open | High | Low | Value | Volume |
| $8.27 | $8.29 | $8.08 | $2.816M | 346.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8234 | $8.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.12 | 557 | 1 |
View Market Depth
| Last trade - 16.10pm 12/06/2024 (20 minute delay) ? |
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Last
$8.13 |
Change
-0.140 ( 1.70 %) |
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| Open | High | Low | Volume | ||
| $8.29 | $8.29 | $8.08 | 54899 | ||
| Last updated 15.59pm 12/06/2024 ? | |||||
| ELD (ASX) Chart |