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Highlights
- ASX-listed dairy stocks have risen on Bubs’ export deal with the US Government.
- As a result, the stocks have garnered a lot of investors’ attention today.
The Consumer Staples sector from the S&P/ASX 200 is one of the well-performing sectors on the ASX today. The S&P/ASX 200 Consumer Staples sector (ASX:XSJ) closed 1.490% higher at 12886.600 on the ASX today (30 May).
The dairy stocks have skyrocketed on the ASX today after Bubs Australia Limited (BUB) shared an important update. Bubs’ infant formula products are recognised by the US FDA, and the company has secured an import deal with the Biden Government. This news has garnered investors’ attention to the majority of the dairy stocks on the ASX today.
Furthermore, the S&P/ASX 200 index (ASX:XJO) closed 1.319% higher at 7277.500 on the ASX today (30 May).
This article primarily focuses on the performance of three major dairy stocks- The A2 Milk Company, Bega Cheese, and Australian Dairy Nutritionals and carefully analyses their performance on the ASX today.
Image Source © 2022 Kalkine Media ®
The A2 Milk Company Limited (ASX:A2M)
The shares of A2 Milk Company Limited (ASX:A2M) closed 10.416% higher at AU$4.770 per share on the ASX today (30 May). Approximately 11.6 million shares of A2 Milk were traded.
The share price of A2 Milk has fallen almost by 13.59% on the ASX over the past 12 months. On the other hand, A2 Milk’s year-to-date share price also fell over 14.52% (as of 3:59 PM AEST on the ASX today, 30 May).
Bega Cheese Limited (ASX:BGA)
The shares of Bega Cheese Limited (ASX:BGA) closed 1.918% higher at AU$4.780 per share on the ASX today (30 May). More than 247k shares of Bega Cheese were traded.
The share price of Bega Cheese has fallen approximately by 20% on the ASX over the past 12 months. On the other hand, Bega’s year-to-date share price also fell over 14% as of 3:59 PM AEST on the ASX today (30 May).
Also read: Bega (ASX:BGA) revenue jumps 113% despite COVID-19 disruptions
Australian Dairy Nutritionals Group (ASX:AHF)
Image source: © Fahrwasser | Megapixl.com
The shares of Australian Dairy Nutritionals Group (ASX:AHF) closed 34.920% higher at AU$0.085 per share on the ASX today (30 May). More than 16 million shares of Australian Dairy Nutritionals were traded in the trading session.
The share price of AHF has gained by 70% on the ASX over the past 12 months. On the other hand, the company’s year-to-date share price also gained by 41.67%.
The company’s share price is driven by a significant announcement made last week. The board of Australian Dairy informed that it has successfully achieved the production of milk powder at its new infant formula plant.
Read more: Fonterra (ASX:FSF) sets milk prices for FY23; shares gain
