Been under the weather

Welcome to my Friday dribble where a talk about things agri, food and sport. Running late by a day and a week....

I have been struck down by the dredged lurgy. Influenza A of all things and "yes" I had my shots back in May. Missed the Louth Races as well.

By all accounts the Louth races was a raging success again. The little town with population 43 turns on a great weekend with more than 4000 people turning up each year. Before getting sick we had been talking of flying up, which as it turned out wouldn't have worked as there was 2 days of snow in the mountains.

The snow/rain was restricted to the southern part of NSW and the mountains, as well as Victoria. Still missing out on rain is the whole north west slopes and plains region of NSW. Talk is around Walcha there is no feed left at all and no prospects until it warms up in spring.

On stocks RFF, Rural funds group found itself in the crosshairs of a very negative report issued by a group out of Austin Texas. The report referred to fabricated rents and cash syphoning. The stock fell sharply initially but has since recovered quite a bit of the loss.

Is that the end of the story..?? Not sure. My own look at the annual report for RFF didn't uncover much. In fact there seemed to be very little detail on a lot of corporate governance issues. Plus they seem to do a lot of capital raisings on a regular basis. Is this to mask their performance..?? There seem to be a lot of unanswered questions in regard to RFF and its management company RFM.

On a positive note the capital raising completed by ELD recently has been a huge success with the stock trading well above the issue price of $5.50 a share. If the stock falls back any further with the volatile market then this stock is a buy.