Shares in Wellard lost more than a quarter of their not- very-high value on Tuesday to reach a record low of 14c. SMH reported that Wellard warned it would sink further into the red as high prices for local cattle weighed on demand from Asia.
Apparently, Wellard said on Tuesday that cattle prices in Australia remained "uneconomically high" as farmers held stock and grew their herds, reducing demand from live export markets in South-East Asia. Hmm uneconomical for Wellard, not the farmers it seems.
Anyhow, less cattle going (great), exporters not doing well (great) and bad luck for those shareholders who chose stocks in an inherently risky business.