Australian Livestock Auction Action Sinks

SYDNEY - Dec 15/06 - SNS -- Livestock sold through online auctions managed by AuctionsPlus Pty Ltd plunged during the past week on a general decline in sales activity.

Throughput for the week totalled 23,896 sheep and lambs, versus 28,473 head the previous week. The number of cattle put through the company's auctions totalled 885, compared to 2,163 last week.

"Major cut backs in throughputs this week put a very different complexion on markets, in particular mutton values which have been languishing badly," AuctionsPlus's Dean Lemmich said.

"Water in most districts is now the greatest concern and many people would be speculating on stock at current prices, if we weren't looking so water depleted this early into summer. There are some sobering stories of desperation sales during the past week or so which are quite distressing, particularly if you rationalize that from a pure commercial point of view despair can turn into delight overnight at this time of year."

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