CF Industries reported fourth-quarter net earnings of $51.4 million, down 73% from the same period of 2008. Sales fell 53%, to $506.7 million, due to lower selling prices. Nitrogen volumes fell 5%, to 5.9 million tons, while phosphate volumes rose 26%, to 2.2 million tons. “The fourth quar- ter was a period of transition from weak to strengthening market condi- tions,” says chairman and CEO Stephen Wilson. “The quarter was marked by a late harvest and a poor fall ammonia application season.
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