In the week ending October 6, the VanEck Vectors Agribusiness ETF (MOO) fell by seven basis points from the beginning of the week. Most of the fertilizer stocks also ended last week in the negative territory, while the S&P 500 Index (SPY) ended the week higher by 81 basis points.
Six out of eight stocks in the above chart ended last week in the negative territory. Intrepid Potash (IPI) emerged as the top loser with its stock falling ~12.4% to $3.9 per share. CF Industries (CF) followed with its stock falling 3.4% week-over-week to $34.2, followed by the Mosaic Company (MOS), which also ended the week 3.4% lower at $21 per share.
CVR Partners (UAN) and Israel Chemicals (ICL) were the two stocks in the industry that ended last week higher. CVR Partners rose 1.2% to $3.3 over the week, while Israel Chemicals rose 23 basis points to $4.4.
On a YTD (year-to-date) basis, Intrepid Potash remains the top gainer with its stock delivering a return of 86.5% from price appreciation. Next was Israel Chemicals with a gain of 7.8% followed by CF Industries’ YTD gain of 7.3%.
Among the losers, CVR Partners delivered losses of 47.7% YTD, followed by Mosaic, which delivered losses of 28.8% over the same period. Terra Nitrogen was close behind with YTD losses of 23.4% YTD.
In this weekly series, we’ll discuss how fertilizer stock prices performed, as they are key drivers for fertilizer stocks. First, we’ll discuss the price movements in urea prices.