AgFeed Industries, Inc. FEED, through its subsidiaries, engages in the research and development, manufacture, marketing, and sale of fodder and blended feed for use in the domestic animal husbandry markets in the People's Republic of China. The company also involves in raising, breeding, and selling hogs for use in China's pork production and hog breeding markets. Its products primarily include additive premix fodder for use in all stages of a pig's life, and blended feeds for the infant stage of a pig's life. In addition, AgFeed produces three brands of premixed chicken feed. It offers its products primarily to distributors and large scale pig farms. The company was incorporated in 1995 and is headquartered in Nanchang City, the People's Republic of China.

FEED's profit surged nearly fourfold to $8.2 million, or 24 cents per share, from $2.1 million, or 8 cents per share, last year. Sales climbed to $49.4 million from $11.9 million. Revenue from premix feed sales increased to $12.4 million from $11.9 million in the third quarter of 2007, and sales from hog production grew to $37 million from $23.4 million in the prior quarter.

What I love most about FEED is its fundamentals like our new 5 Star gold pick DROOY. FEED is trading less than book value and has over $109 mm in revenue! FEED has $15.5 mm in cash and only $3 mm in debt! Also, FEED is trading less than one times sales! FEED is down to only $1.45 from its 52 week high earlier this year of $21.31! Furthermore, FEED is a China Agriculture play! The upside here is unbelievable!

FEED has a strong reputation with over 13 years experience and operates over 900 feed distribution stores. Over 65% of China's meat consumption is pork while hog prices are at multi-year highs. This niche market is also income tax free!

Please do your due diligence on FEED as well as our other agriculture picks as soon as possible!

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