STRONG bidding and confidence in the beef industry led to another 100 per cent clearance rate and average price of $3863 when the 17th Ponderosa bull sale was held in Katherine on May 27.
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On the back of the success of the 2015 auction – which also celebrated a perfect clearance rate for an average price of $3762 – and buoyant beef prices, expectations were high as buyers converged on the Department of Primary Industry and Fisheries yards on Friday.
With 232 lots on offer from the Ponderosa Brahman Stud, Olive Brahmans, Raglan Brahmans and Viva Brahmans, buyers had plenty of choice as natural polled bulls triggered the heaviest bidding.
The auction marked a milestone for the Olive family, which celebrated 26 years of selling in Katherine.
The sale produced a gross of $800,770, with the top-priced bull selling for almost $2000 more than the 2015 high.
The bull, a grey brahman, was bought for $10,250 by Laura Hoare.