Are these getting scarce now ? Who's hoarding them all ? ;)
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Are these getting scarce now ? Who's hoarding them all ? ;)
https://www.rnz.co.nz/news/business/...boosts-returns
Record prices for our commodities (dairy, meat etc) with the lower NZ$ providing a further boost.
Happy times down at the farm.
Meanwhile, what’s brewing at PGW in their talks with the Chinese?
The peak within the last 6 months for the NZD top USD exchange rate came about the end of October 2021 and was US0.72c= NZD1, and it has subsequently fallen around 10% from that peak.
The Global Dairy Price Index, priced in USD, has moved from 1250 to 1450 over the same period, a rise of 16%. In NZD terms that is a rise of (1450/1250 x (72/65) = 28.5%
The PGW share price over that same period rose from around $4.50 to $5.70 today, a rise of 26%. So you might argue the PGW share price is only reflecting current commodity price trends. But then again, despite the ups and downs of farm output prices, a share price reflects the medium future outlook as well, and that continues to be good. So maybe the recent share price rise is not unexpected?
You know better than that Balance. Farmers are never happy, only less grumpy ;-P
Probably nothing. Alan Lai has his 'get out of jail free card', with the underlying price of PGW shares offsetting any debt that remains at Agria, while utilising the strong PGW dividend flow to pay down debt further. The Chinese government seem content with their own 12.928% stake of 9,758,754 shares (as at 20-10-2020). Looking at the share price chart as regards shares volumes traded only exceeded 50k for one day over the last two months. No evidence here of any meaningful further accumulation that I can see.
SNOOPY
According to The Economist's latest “burgernomics” update, a Big Mac cost NZ$7 in New Zealand and US$5.81 in the United States, making the implied exchange rate $1.20.
But the real exchange rate was $1.52, suggesting the New Zealand currency was 20.9 per cent undervalued against the greenback.
How's that change the model, Snoopy