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Australian Livestock Auction Action Down
SYDNEY - May 25/07 - SNS -- Livestock sold through online auctions managed by AuctionsPlus Pty Ltd slipped during the past week on lower sheep and lamb offerings offset an increase in cattle.
Throughput for the week totalled 30,521 sheep and lambs, versus 32,662 head during the previous week's auctions, and 4,638 head of cattle, compared to 3,655 last week.
"Throughputs rose unexpectedly after the rain," AuctionsPlus's Dean Lemmich said. "The results of the week's cattle trading took most by surprise after last weeks buying spree that sent markets to new heights
"It's always a fact that after rain the grass doesn't grow like vendors expectations of pricing and there was a certain amount of that reflected in today's reserve prices. However the variance from last to this week was quite alarming."
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