Australian Livestock Auction Action Inch Upward

SYDNEY - Sep 7/07 - SNS -- Livestock sold through online auctions managed by AuctionsPlus Pty Ltd rose during the past week as increased cattle offerings as a modest increase in lamb and sheep offerings exceeded the decline in cattle.

Throughput for the week totalled 15,950 sheep and lambs, versus 14,040 head during the previous week's auctions, and 4,694 head of cattle, compared to 6,025 last week.

"Cattle numbers dropped by 1500 this week . . . and the four sales held today, with the exception of Tasmania, looked as though they'd been hit by a fairly large hammer," AuctionsPlus's Dean Lemmich said.

"Vendor's expectations resembled last weeks pricing, but it just wasn't there, hence a very high passed-in rate. It's a great pity as throughout the winter months buyers of domestic backgrounding and feeder cattle simply couldn't find the weight, now suitable cattle are appearing and the drought has killed off the grass market, and feeders no doubt are extremely worried about where feed stocks will come from in '08."

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