Q:

How do you buy livestock at an auction?

A:

Quick Answer

In order to buy livestock in an auction, determine the exact animal desired and their going price, determine a budget, find an appropriate auction and arrive at the auction an hour early prepared with potential funds and transportation. Potential auction bidders interested in attending a live auction can get information about local auctions online, in the phone book or through the county extension office.

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Full Answer

In order to buy livestock at an auction:

  1. Find the auction and auction information
  2. Find the appropriate local auction that offers the desired livestock by searching online or through local channels. Calling the auction barn ahead of time provides important auction information like when and where the auction is taking place, what type of livestock is for sale and the type of auction lots available. If the auction barn has a website, it may provide further information also.

  3. Attend the auction and be prepared
  4. Knowing the auction lingo, rules and fees helps to set realistic expectations. Arriving early to inspect the livestock and predetermining the desired animals and budget prepares bidders for the auction. Serious bidders should also bring a transport trailer to carry the livestock.

  5. Know the market
  6. The purpose of the auction is for both buyer and seller to agree on a fair price. Knowing the market prices and costs of the livestock is beneficial in determining a bidding budget. Buyers can find recent selling prices online at MarketNews USDA or by using a application for mobile devices such as Nexus Cattle Calculator available on Google Play.

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