Norway produces 70% of the world's farmed Atlantic salmon. The salmon price cycle drives earnings for Mowi, SalMar, Grieg Seafood and Lerøy — all listed on Oslo Børs.
Salmon prices move in 3-5 year cycles driven by supply growth (biological constraints limit how fast Norway can grow production) and demand growth (Asia particularly). BUY below NOK 42/kg — salmon farming unprofitable, stocks cheap. SELL above NOK 82/kg — salmon farming highly profitable, stocks expensive. Current salmon price: NOK 95/kg — above SELL threshold.
Mowi (largest), SalMar, Grieg Seafood, Lerøy Seafood and Austevoll Seafood all trade on Oslo Børs. At NOK 95/kg, all are generating strong earnings — but the Signycle signal says SELL, not BUY.