Feed costs are going down, that could happen too permabear. The yield may be over 15% down there and the PE might be 1.5. The inside ownership and the short busting 1/3rd net distributions make this one solid along with the aquisitions.
I sold at 28. I have no position here. I do see several problems: 1. Extremely weak egg prices compared to last year. In fact, horrible. 2. No one knows what the "yield" will be, depends on earnings. They have no dividend set here. 3. Feed is lower but still high. 4. Restaurants and institutional buying is weak. 5. Will the U.S. Dept of Agriculture join the lawsuit?