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Highlights
- The farming and dairy sector is the strength of the NZ economy.
- PGG Wrightson notified the market of a solid trading performance that would persist in the first quarter.
- Allied Farmers released Chairman’s address and presentation related to the recently held Annual Meeting.
Climate change activists have been arguing over a draft plan for pricing and cut in agricultural emissions, but the pricing options recognised in the document does not look like falling by more than 1% on 2017 levels.
As an alternative, the strategy depends on incentives and research, the fees paid by all the possible tariffs to encourage farmers to emerge as more capable than before.
On the given backdrop, let’s skim through 4 NZX dairy and agri stocks-
Image source: © 2021 Kalkine Media, data source- EODHD/Others
PGG Wrightson Limited (NZX:PGW)
A leading supplier to the agri market, PGG Wrightson Limited provides a broad set of products, services and solutions to growers and farmers.
The Company said virtual ASM would be conducted on 6 December this year.
Last month, PGG Wrightson notified the market of a solid trading performance that would persist in the first quarter. The Company’s livestock division was affected by the pandemic-induced constraints in recent months. Also, trust in the red meat market persists as solid beef and sheep schedule pricing was anticipated to be optimistic for the remaining part of the term.
On 25 November, PGG Wrightson last traded at NZ$4.39, decreasing by 0.23%.
Related article; PGG Wrightson (NZX:PGW) Hits $499 Million Six Month Revenue
Fonterra Co-operative Group Limited (NZX:FCG)
NZ-based dairy company, Fonterra Co-operative Group Limited, does organic farming and has one of the lowest carbon footprints on farms worldwide.
Last week, the Company updated on the Special Meeting, to be conducted on 9 December.
On 10 November, the Company declared its objective to move ahead with a stakeholder vote on alterations in its capital structure. The voting process would be carried on during the Special Meeting of 9 December.
Fonterra ended the day’s trading session unchanged at NZ$3.15, as on 25 November.
Do read; Fonterra (NZX:FCG): Is it an NZ company? Why is it a Co-operative?
Allied Farmers Limited (NZX:ALF)
Provider of livestock trading and property-related services, Allied Farmers Limited is a pastoral services company.
Recently, the Company released Chairman’s address and presentation related to the Annual Meeting conducted on 24 November.
The Company updated on the FY 2021 results, where NPAT stood at NZ$2.021 million compared to NZ$0.767 million on pcp. Further, it gave an FY 2022 operational update, stating that about NZ$1 million bond was repaid in September last year to cut interest costs at the parent company level.
Also read; Allied Farmers (NZX:ALF) announces strong NPAT post COVID-19-related losses
Allied Farmers last traded flat at NZ$0.86 on 25 November.
Livestock Improvement Corporation Limited (NZX:LIC)
Livestock Improvement Corporation Limited, an agriculture technology firm, permits farmers to supply genetics and technology.
The Company notified the market of the hiring of Marise Winthrop and Nikki Fowler as interim CFOs while David Hazelhurst becomes a temporary CEO.
At the beginning of November, the Company updated that Wayne McNee would be moving from his earlier designation of the CEO by 30 November.
On 25 November, Livestock Improvement ended the market session flat at NZ$1.22.
Bottom Line
The farming and dairy sector is the strength of the NZ economy. The NZ farmers are extremely innovative and utilise machinery to generate one of the most capable and productive agricultural farmlands around the globe.