NUF 1.15% $6.16 nufarm limited

and other ag stocks

  1. 10,543 Posts.
    lightbulb Created with Sketch. 2
    Talking with business contacts in SE Australian rural areas there is a major shambles about to happen in a very significant area of the national cropping region.

    Most of Victoria and Southern NSW cropping belt is still awaiting any meaningful rainfall such that at this stage the prospects of a second year of drought taking in previously only lightly affected areas such as the SW Slopes in NSW is a high probabilty.

    I notice the NUF chart is showing strong signs of a sell off suggesting those long may be taking profits.

    WES and FCL would be other stocks to experience further weakness if this were to occur though there has been some rain in WA, northern NSW and SE Qld.

    The pastoral houses got off the hook slightly last year through high levels of stock sales as farmers destocked with lack of feed. I would doubt this circumstance happening again.

    One would imagine there would also be issues for AWB.

    In the forestry stocks look for some weakness with TIM if the almond project in inland Vic is affected by irrigation issues but predominately GTP, TIM etc should not be effected at this time as rainfall in their coastal bluegum plantantion areas remains at or above average.

    Any thoughts welcome

 
watchlist Created with Sketch. Add NUF (ASX) to my watchlist
(20min delay)
Last
$6.16
Change
0.070(1.15%)
Mkt cap ! $2.338B
Open High Low Value Volume
$6.11 $6.23 $6.11 $5.141M 833.6K

Buyers (Bids)

No. Vol. Price($)
3 8150 $6.16
 

Sellers (Offers)

Price($) Vol. No.
$6.17 5154 3
View Market Depth
Last trade - 16.10pm 22/11/2019 (20 minute delay) ?
(live)
Last
$6.16
  Change
0.070 ( 1.12 %)
Open High Low Volume
$6.15 $6.23 $6.13 171962
Last updated 15.59pm 22/11/2019 (live) ?
NUF (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.