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    Ben Mayhew

    Research Analyst at BMO

    Ben Mayhew is an analyst at BMO Capital Markets specializing in equity research with a focus on the agricultural and food production sectors. He covers companies such as Vital Farms, Andersons, and Cal-Maine Foods, recently initiating coverage with performance targets showing projected returns between 7% and 24% for these names. Mayhew has established a track record of actionable investment calls, with his recent recommendations reflecting confidence in future growth prospects of industry leaders. He holds professional securities credentials and brings experience in stock valuation, macroeconomic trend analysis, and quantitative modeling to his current analyst role at BMO.

    Ben Mayhew's questions to JBSAY leadership

    Ben Mayhew's questions to JBSAY leadership • Q2 2024

    Question

    Inquired about the strength and outlook for domestic protein demand in Brazil, and the broader impact and future outlook for lower grain costs across the portfolio.

    Answer

    The company is very optimistic about Brazilian domestic demand, which has grown significantly due to price elasticity, and they are meeting it with innovation in value-added products. The key factor for future margins is the supply-demand balance; with restricted chicken supply and stable grain prices expected, the outlook is positive, though subject to normal seasonality.

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