More competition means more opportunity for cattle producers, making the news that BigIron Auctions is expanding its sales expertise into the feeder business a positive sign for ranchers.
BigIron Auctions CEO Mark Stock told DTN in an exclusive interview that the nationwide online auction platform is planning to branch out into feeder cattle this fall.
"We (already) do a livestock line," Stock says. "We do a tremendous business selling bred animals, cow-calf pairs. This fall, you're going to see BigIron get involved in the feeder cattle sale market."
Stock believes there is good demand for BigIron Auction's services in the marketplace.
"People just want to sell their animals on their farm or from their ranches, to be picked up by the bidder to avoid disease issues from sale barns," he said.
Stock explained that these will be online sales "where you bid on the cattle by the pound just like you would if you were sitting in a seat in a sale barn. Scales will be used to make any adjustments for weight and shrinkage as the animals are picked up, he added.
"What's nice about the livestock is everything has a specific time for when it's going to sell," Stock said. "So that's nice for people. They can use their smartphone or their app. They know that at 1:15 p.m., for example, these 300 head are going to be selling. They can be in their dentist office and be buying a pen or a lot load of cattle just like they can buy a tractor."
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