Last week, which ended on August 24, was broadly positive for the fertilizer sector, with the VanEck Vectors Agribusiness ETF (MOO) ending 1.3% higher than the week ended August 17. This agribusiness ETF also outperformed the overall market S&P 500, which ended higher by 90 basis points. Let’s see how fertilizer stocks performed last week.
Last week, from August 17–24, most fertilizer stocks in the above chart ended higher week-over-week. CVR Partners (UAN) rose 5.1% to $3.70, while CF Industries (CF) rose 5.1% to close the week at $49.90. Israel Chemicals (ICL) was right behind with a 4.4% weekly gain, closing at $5.40, and Intrepid Potash (IPI) rose 3.3% to end the week at $3.40 per share.
YTD (year-to-date), most fertilizer stocks in the above chart are in positive territory. Israel Chemicals has emerged as the biggest gainer with a 33.4% increase, followed by CF Industries with a 15.8% gain YTD. Mosaic rose 11.2% followed by CVR Partners, which has risen 5% so far this year. Nutrien has risen 1% YTD.
Intrepid Potash, however, was the only one with a negative YTD return of 27.2%.
In the following parts of this series, we’ll primarily see how fertilizer prices moved last week.