Good Trading Update.

• Poultry demand has strengthened,with trading volumes in the first quarter of FY2021up 6.3per cent on the first quarter of FY2020,and up 7.5per centon the last quarterof FY2020.
• Solid progress in the reduction of poultry inventory levels resulting from COVID-19 impacts in FY2020,with initiatives continuing to deliver further reductions in inventory levels by the end of FY2021, supported by Christmas demand.
• Anticipated feed cost reductions in the second half of FY2021 expected to fully realise the benefits in cost of sales by the last quarter of the 2021 financial year.
• Dividend policy reviewed following the adoption of the new leases standard AASB 16 and revised to a 60 to 80 per cent payout ratio of Underlying Net Profit After Tax (NPAT), inclusive of the impact of AASB 16.
• The FY2021 interim dividend, determined under the revised policy, is expected to be paid in April 2021

Up 16%. Think it's due to mainly short covering from such a good update.

FYI: Inghams is one of the top shorted stocks on the ASX. Only reasons I can think people short it is due to climate change, drought risks, water shortage, increasing feed costs,  etc...

Yet I still hold, but mainly for the dividend stream.