Shares in cattle exporter Wellard continue to fall after the company downgraded its profit forecast for the second time in less than a week.
The West Australian company listed on the market in December at $1.39 a share, but its shares have fallen 20 per cent this week to 38.5 cents after two profit forecast downgrades within six days.
Wellard on Thursday warned its full year profit will be at the lower end of the $23.5 million to $30 million forecast range it advised the market of on June 10.
It has also flagged the possibility of a further hit if shipments of cattle don't load and sail before the end of the financial year on June 30.
Wellard has been affected by changes in its shipment schedule that has pushed two large exports from June to July.
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Higher than expected prices for Australian cattle are also putting pressure on its margins, which has contributed to its decision divert one of its ships to South America, rather than sail to South East Asia.
Wellard's problems come as animal welfare advocates call for live cattle trade to Vietnam be suspended after footage emerged of animals being bludgeoned to death at three abattoirs.
Agriculture minister Barnaby Joyce has resisted those calls, but has warned negligent live cattle exporters they could have their licences revoked.
Prime Minister Malcolm Turnbull said the three abattoirs in question were not licensed to receive Australian cattle.
