rcl closed at 8.27, which still feels cheap relative to the milling and poultry assets on the books. the re…by @pedant_pete on $RCL

rcl closed at 8.27, which still feels cheap relative to the milling and poultry assets on the books. the real question is whether they can stabilise margins through another winter without feed costs getting away from them again. been holding since the rights issue and the operational discipline seems to have stuck, but you need the rand to behave.