Genetics Auction Group hosts sale despite prevailing drought – Average price of bulls pegged at N$25,000
Local farmers who participated in the biannual Namibia Genetics Auction Group’s event hosted at Agra Bank Windhoek Ring in Windhoek, achieved an average price of N$25,000 for bulls sold at the auction held last week.
A total of 14 bulls were put up for auction of which six were sold. These were four Brahmans; one Charolais and a Simmentaler. The bulls on auction were sold for an average of N$25,000.
The highest price paid for a bull at the auction was N$29,000 paid for the Charolais bull.
“Despite the current drought, this year’s auction results are satisfactory and we are positive that they will improve as our rainfall and the economy recovers,” said Namibia Genetics Auction Group leader, Bianca Lueesse.
Established in 2011 and sponsored by Bank Windhoek, the Namibia Genetics Auction Group is made up of 20 members specialising in eight different cattle breeds. It is the biggest cattle breeding group in the country based on membership and breeds bulls and cows best suited to Namibia’s harsh environment. The Group holds two annual auctions; one in May and another in August.
“The bank’s support allows us to contribute to the country’s food production in terms of cattle farming and we really appreciate it,” concluded Lueesse, thanking Bank Windhoek for its support over the years.