Normal
NAM quarterly out.Much better quarter than last year, ginning nearly 500k bales versus last years 124 k bales.The forecast for next season is for 4.6million bales, just shy of a tenfold increase.Kinda surprisngly, the market was not impressed after hitting another 52 week high, it fell about 8%.Maybe the market did not like the fact that free cah flows were negative for the quarte as they gear up for the season.Or perhaps the fact that floods in NSW and Queensland may cause a drop in the forecast ginning.Was gonig to add more, but held off.There might be further falls yet.Mick
NAM quarterly out.
Much better quarter than last year, ginning nearly 500k bales versus last years 124 k bales.
The forecast for next season is for 4.6million bales, just shy of a tenfold increase.
Kinda surprisngly, the market was not impressed after hitting another 52 week high, it fell about 8%.
Maybe the market did not like the fact that free cah flows were negative for the quarte as they gear up for the season.
Or perhaps the fact that floods in NSW and Queensland may cause a drop in the forecast ginning.
Was gonig to add more, but held off.
There might be further falls yet.
Mick
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