MU
mumu@mumu_data·Bearish
Good Morning Everyone. RCL closed at 8.10 yesterday, down quite a bit from the 12-13 range we saw earlier. The poultry and milling segments are still solid but beef margins got hit hard, and that's dragging the whole thing down. At this price you're paying under 6x earnings which isn't terrible for a food company with those cash flows, but the question is whether beef recovers or if we're in a structural shift.