Income ‘better than expected’ at Casino saleyards
THERE has been a drop in throughput at the Casino saleyards, but a report to be considered at Richmond Valley Council's meeting tonight says income is still better than expected.
As at March 31, throughput at the Northern Rivers Livestock Exchange was down 2.6% compared to the same period last year.
"Income is better than expected due to increased cattle prices," the report states.
"There are no areas of real concern in expenditure.
"Throughput was up for the first half of the financial year compared to last year however the last quarter has seen the throughput drop below last year's figures."
Income from sales for the period to March 31 was $605,620 which is 64% of the budgeted sales income for the year.
The council also earned $40,302 in interest from reinvesting the loan funds borrowed to upgrade the complex.
In the March quarter, 30,568 head of cattle were processed through the saleyards, compared to 38,418 head for the same period in 2014/2015.
"Numbers were down for the same period last year, partly due to the annual weaner sale being spread over two quarters (March and June)," the council report explains.
"Drought and very dry conditions throughout Queensland and NSW have reduced restocking activity, however record prices have constantly been achieved ... ensuring (the saleyards') longevity as the regional facility for the Northern Rivers and beyond."