i had a problem with mine, but i kept tinkering with it.. i did trigger jobs and such, so it was MY fault it didnt work, then i realized that the magazine well was just a tad crooked from when i tightened it down.. you may want to take it out of the stock, and check with a fired shell.
tis a PITA process. or else it could be a defective extractor?... could give the place wherre you got it a visit, or call Savage themselves...
BTW i'd have 3 savage rifles, 2 .22 and 1 .17hmr, and were all exceptional quality!
hope you get it working right!