Australian Livestock Auction Action Rises

SYDNEY - Sep 14/07 - SNS -- Livestock sold through online auctions managed by AuctionsPlus Pty Ltd rose during the past week as decreased cattle offerings were over matched by increased lamb and sheep offerings.

Throughput for the week totalled 21,241 sheep and lambs, versus 15,950 head during the previous week's auctions, and 2,969 head of cattle, compared to 4,694 last week.

"Cattle numbers fell again this week. Markets showed us a whole new set of levels this week, hence in our sales today an overwhelming number of lots were passed in," AuctionsPlus's Dean Lemmich said.

"The theme of the week appears to be that grain finishers are trying to rationalize potential grain prices to the buy-in price of cattle and it simply doesn't work. Therefore, from their stand point, store cattle prices must come back - it's a reasonable assumption, but one which will be sorely tried if we ever have flooding rains."

Subscribers can read the full text of the article by Clicking here