If you’re thinking of bidding on livestock at auction, there are a few things you should know. Livestock auctions can be fast-paced and intense, so it’s important to be prepared before you start bidding. Here are a few tips to help you get the most out of bidding on livestock at auction.
13 Tips for Bidding on Livestock at Auction
Do your Research Ahead of Time
Know what kind of livestock you’re interested in and what the going market rate is for that type of animal. This will help you gauge how much you’re willing to spend on your purchase. Different animals have different market values make sure you understand how cattle, horses, goats, sheep, and other livesock differ.
Estimate the Animals Age
The capacity to tell an animal’s age just by looking at it is a talent that most cattle and horse buyers have. With horses, in particular, you can gauge their age by studying the contour of their back or top line, but also by looking at their teeth. It’s essential to be familiar with what young livestock looks so that you can make quick estimates when necessary.
Arrive Early and Inspect the Animals
When the auction starts, you won’t have time to closely examine the livestock you’re interested in. Make sure you take the time to do this before the bidding begins. Write down your notes so you know exactly which lots you inspected yourself and avoid bidding on the livestock you are unsure about. You need to check the animals for bumps, bruises or patches missing from their coat. Its also good to open the mouth and inspect teeth, as well as look at the hooves.
Only Bid on Healthy Animals
Livestock auctions can be a great place to find bargains, but it’s important to only bid on healthy animals. Inspect the animals carefully and avoid any that appear to be sick or injured. While they are all inspected beforehand, issues and injuries can happen in transit. If you notice any issues write a note down for yourself.
Ask for a Vet Before Leaving the Auction Block
If you want a vet to look at the animal you’ve won, inform the auctioneer before the animal leaves the block. The auction barn will usually have a list of local vets that they recommend. They can inspect the animal one more time. This is important to do before you pay for it.
Have a Budget and Stick to It
It’s easy to get caught up in the excitement of the auction and spend more than you intended to. Know how much you’re willing to spend before you start bidding and stick to your budget. With that, do not be eager to be the first bidder, if you’re new to livestock auctions feel out the flow of the bidding.
Be Prepared to Pay Cash
Livestock auctions usually require payment in cash or certified funds. Make sure you have the necessary funds available before you start bidding.
Have Transport Ready to Avoid Holding Fees
Once you’ve won an animal at auction, you’ll need to transport it to your farm or ranch. Make sure you have a trailer ready and waiting so you can take your purchase home with you. If you can’t transport the animals on the same day, the auction or farm will charge you a holding fee.
Know How Livestock Prices are Determined
Livestock prices are determined by several factors, including The type of livestock being sold, the age, weight, and condition of the animals, and the time of year. Some animals are valued by the pound and others by the head, know the difference. You can see market pricing info here.
Identify the Experienced Buyers
Pay attention to who is bidding and what they are bidding on. There might only be a particular reason why they buy from certain lots or ranches; maybe they know how to look for quality better than anyone else. Also, take note of the people who don’t bid as that can say something too.
Watch for Low Starting Bids or Little Action
Auctions are there to make money for the auction houses. The seller may be willing to sell, but you may get what you pay for. A sign of a problem is underbidding livestock.
If This is Your First Cattle Purchase, Buy Two
A cow needs someone to be its friend to be content. Cows that are happy gain more weight.
If You’ve Won Pick Up the Health Papers
When you get new animals, always remember to ask for their health papers. These documents show which vaccinations the livestock have received as well as any existing or previous health problems for each animal.
Tips for Bidding on Livestock at Auction
When bidding on livestock at auction, it’s important to know the going market rate, estimate the animals’ ages, and only bid on healthy animals. Make sure you arrive early to inspect the animals and ask for a vet before leaving the auction block. Have a budget and transport ready to avoid holding fees. Know how livestock prices are determined and watch for low starting bids or little action. If this is your first cattle purchase, buy two. Lastly, don’t forget to pick up the health papers when you’ve won. Following these tips will help you make the best purchase possible at a livestock auction.