Australian Livestock Auction Action Plunges

SYDNEY - Oct 5/07 - SNS -- Livestock sold through online auctions managed by AuctionsPlus Pty Ltd fell during the past week on a general decrease in livestock offerings.

Throughput for the week totalled 29,912 sheep and lambs, versus 46,851 head during the previous week's auctions, and 2,146 head of cattle, compared to 3,674 last week.

"Cattle throughput shrunk by almost 1500 head this week," AuctionsPlus's Dean Lemmich said. "Reports throughout the week were dismal to say the least and the weather was as bad as most have seen for many a year

"The free-falling market was expected but not welcome and we battened down the hatches this morning expecting the worst. Whilst it wasn’t great, to our surprise there was certainly a lift in values with odd sales highlighting that shortages may be here sooner rather than later."

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