FOR the first time ever the Northern Rivers Livestock Exchange (NRLX) has returned a yearly sales revenue of more than $100 million.
Following the T & W McCormack and Ramsey & Bulmer combined store sale and annual Angus Brangus sale last Friday, sales revenue for 2016-2017 reached a whopping $100,171,671 with 104,517 head sold - and there are still nine sales remaining for the year.
Richmond Valley Council General Manager Vaughan Macdonald said the bumper year had seen great returns to the local producers and agents, and was a massive boost to the local economy.
Mr Macdonald said the numbers spoke for themselves and showed why the NRLX was the number one selling option in northern NSW for producers looking to get premium returns on their cattle.
He said agents had been working hard to ensure there were good numbers of buyers at the sales, with some new buyers in town.
"These figures show why saleyard auctions are the best choice, when compared to the other selling options available in the market," said Mr Macdonald.
"If producers continue to send their cattle to the saleyards, buyers have to attend to purchase the cattle they require, which in turn creates competition and, ultimately, ensures producers receive the best returns available."
Mr Macdonald said with pre works on the $7 million NRLX stage one upgrade already underway, it was exciting times for all NRLX stakeholders.
He said the upgraded modern facility, which would include a roof and soft flooring, would ensure cattle being sold at the NRLX would be in the best condition possible.
He said this enabled producers and agents to get the best prices available in the market.
"The yards are a community facility, and with people coming into town to buy and sell cattle the commercial flow-ons are significant not only for Casino and the Richmond Valley, but the entire Northern Rivers economy," Mr Macdonald said.
Sales at the NRLX are every Wednesday with the five local agents - George & Fuhrmann, Ian Weir & Sons, Ramsey & Bulmer, Ray White Rural and T & W McCormack - and store sales are held regularly on Friday.
Richmond Valley Council was successful in securing a Federal Government grant of $3.5 million towards the upgrade and continues to work with the NSW Government on opportunities to secure grant funding to enable a full facility upgrade which requires a further $7 million.
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