Demand for breeding bulls slumped at the first sale at the annual Beef Expo in Feilding on Monday.
The three day event in Feilding began on Monday with the annual round of beef cattle stud sales.
Of the 30 Angus bulls offered for auction in the first of six breed sales, 27 were sold.
Before the sale, PGG Wrightson chief auctioneer, Bruce Orr, was expecting strong buyer interest, especially in the Angus breed.
However at the end of the first day, he said demand simply wasn't there, despite a good crowd.
Mr Orr said only one bull, the champion, made five figures, fetching $27,000, while the next highest price was $8,000.
The Beef Expo which continues on Tuesday with the Charolais, South Devon and Simmental bull sales.