AJ Secrist from Firstlight Management on Lamb Weston $LW
Yet Another Value Podcast
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The Three Player Oligopoly in the Cane Industry
There are three players in North America that control about 85% of capacity. And lamb is the largest amongst those about 40 to 45% capacity. They have a margin advantage versus the two private competitors in the cane, I've heard it's as large as 400 to 500 basis points. So you can have really high conviction in global capacity utilization and what's going to happen pricing going forward.
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