Tuesday, December 7, 2021

NRLX sells $10m in a record week

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In an inspiring turnaround since the devastating drought and bushfires, the Northern Rivers Livestock Exchange has celebrated its biggest ever week with a combined revenue from three days of sales exceeding $10 million.

Day one of the annual George & Fuhrmann weaner sale was held on Friday, March 12 and 1482 were cattle sold generating $2.3 million.

On Thursday, March 25, 3394 cattle sold for a total of $5.8 million, at an average of $1716 per head, smashing the previous single-day record of $4.7 million.

The following day more than 2575 head were sold for a further $4.3 million.

NRLX operations manager Brad Willis said the sale results proved the strength of the region’s market.

“Many buyers commented it was the strongest sale they had ever seen, including several who came from as far afield as the Victorian border,” Mr Willis said. “Demand for high quality cattle remains exceptionally strong, and it’s fair to say the selection of cattle on sale last week was some of the best quality stock in the country.

Mr Willis said people had said the Casino market was so strong and the prices were unbelievable.

“Many of the local producers who sell their stock through the NRLX were hand feeding their herds at the peak of the drought in mid-2019. Then many were hit by the fires,” he said.

“For vendors it is an exceptional result to bounce back so strongly with such high quality stock after the shock of 2019.

“It is also a credit to those who were able to nurse and retain their stocks through the drought.”

Because the boom in cattle prices showed no signs of abating, Mr Willis said the NRLX was well positioned as a modern, industry-leading facility that vendors and buyers could rely on.

Richmond River Independent 7 April 2021

He said the results vindicated Richmond Valley Council’s $14 million investment in upgrading the NRLX.

This article appeared in the Richmond River Independent, 7 April 2021.

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