CALM owns its own feed mills. The price of seeds is probably higher, but they are not buying feed out on the market. Their IR page has a video which explains this. I was examining CALM for a possible long (15% ago) but held off as the 5-year chart is parabolic and Q1 has resulted in an operating loss 9 out of the past 10 years. I do like their dividend hike to flush out the shorts, though. Brilliant idea!
CALM Longs Walking on Eggshells [View article]