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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (96505)	7/4/2002 10:14:31 AM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 132070

Skeeter, Thanks, I will look at SWTX. One stock I like here is SFD. There is a dark cloud handing over the US meat industry at the moment and Smithfield is being discounted. The Russians have a ban US poultry imports and the Japanese have a breakout of mad cow disease which for some reason has caused US exports to that country to slow down. One other item of interest is the ranchers in drought areas are slaughtering since there is insufficient food supply for their cattle. This of course will cause prices to go up in the future after this supply is diminished. IMO, these issues are short term problems for the industry. One other thing is the co-op's in this industry are not efficiently managed and will be either shut down or bought by the large producers like Smithfield. Smithfield made an offer for Farmland and Farmland decided to file bankruptcy instead of accept the price from Smithfield. I suspect Farmland will be sold off in pieces to Smithfield or other competitors at some point in time. So we have consolidation and some short term problems in this industry. I have no idea how low the stock will trade in the future, but IMO the stock is currently trading below its intrinsic value. biz.yahoo.com Edit - if someone finds flaws in my thinking - let me know. Joan