I am assuming these are buys considering the stock finished up. Sells of this sized blocks on volume of 50 something thousand would have destroyed price. This is a buy signal something is likely going to happen. I learned a long time ago with stocks if you see smoke; there is fire.
Finally found some data I had been looking for, thought i might share it with you. I am sure there are people reading this thread, wish you would state your opinion of this stock. If you have read my post you know I am extremly bullish. However, I share with you an ol aggies perception of what all this anal-ysis means. Anyway......
US #2 5/14/98 Kansas City $2.47-2.48
5/15/97 $2.82-2.84 per bushel
Which means that feed cost should be running about 12-10 % below year ago costs. Cost/pound of chicken produced.
Been watching the mid-west weather very closely, looks great so far this week. Second largest # of acres of corn planted. I predict that we will harvest 2.15 to 2.25 corn this year.
Soybeans,US #1 yellow 5/14/98 Kansas City 6.46-6.48 5/15/97 8.62 per bushel
This really should be soybean meal. But beans are 25% cheaper than a year ago.
Please be aware that domestic chicken prices are down and the export business has slowed. But further processing is alive and
kicking.( the industry likes to say "value added product". Which means breaded,cooked and frozen or a TV dinner.
CHX should beat EPS estimates easily. I think it should beat 1.40 EPS. But it realy should beat 1997 EPS of 1.49 vs 1998 EPS estimate of 1.40. The 1.49 only represents 6% more and we've been talking about a 10-12 % decrease in feed cost.
I hope chx isn't like Tyson's and holding a bunch of 2.68 corn
UNLESS YOU NEED THE MONEY FOR LIFE OR DEATH HOLD WHAT CHX YOU HAVE AND BUY MORE. BUY...BUY...BUY....