Frequently Asked Questions

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How long of a term can I get?

Most loan terms for feeder cattle last up to one year depending on the nature of the operation.

How soon do I get paid after a sale?

We pay promptly in compliance with applicable law.

What are the rates?

The rates vary as they are set by the lender.

Will this hit my credit score?

If a formal “hard’ inquiry is made you will be notified by the applicable lender as the application process progresses.

Do I need AGEX Tags to use AGEX Herd?

No! You may use any tag and/or naming convention that works for you and your operation. AGEX Tags offer a number of benefits to producers such as easy, accurate ingestion and access to the AGEX marketplace, but are certainly not required.

Do I have to sell through AGEX if I use your app?

You do not have to sell your cattle through our marketplace. Of course we would like you too, to take advantage of our benefits, but we realize ranchers have a lot of choices when it comes to selling their cattle.

What makes AGEX different from other marketing methods? Why should I sell through AGEX?

The more important question is, why shouldn’t you? AGEX can get your cattle in front of more buyers than a physical auction, with more added info and the opportunity to sell healthier calves straight out of the pasture. AGEX also offers Sellers more convenience and transparency than traditional video auctions while ensuring the amount you get BEFORE cattle leave your possession. Many cattle producers sell cattle 1-2 times/year, why take your chances?

How does an AGEX auction work and how are cattle priced?

Prices are set in a number of ways, usually the Affiliate (perhaps with some input from the Seller) sets a starting bid along with a reserve price. AGEX does not PO cattle, but instead uses the reserve as a way to provide sellers some reasonable expectation of the outcome. The reserve also lets buyers know what it takes to get something bought without wasting their time. The reserve amount is not visible to buyers, but an auction itself will be marked as to whether or not the reserve is met. The pricing itself is based on a number of factors just like cattle have always been priced (e.g. the quality of the cattle, location/logistics, current market, current CME contract trading, weather, etc.). If an auction for some reason does not meet the reserve, the seller has the option of accepting or rejecting the leading bid within a limited timeframe.

What does an Affiliate do? Is there a specific process to sell cattle on the AGEX marketplace?

Affiliates post and represent cattle for sale on the AGEX marketplace. Affiliates range from ranchers who also use AGEX to supplement their incomes, to professional cattle marketers who use AGEX as way to expand their business offerings. All cattle sold on the AGEX marketplace must have a tag registered via the Affiliate or Herd App and depending on the type of cattle, weights and other information as well. This can be done either with an AGEX enabled chute, a mass scale, truck scales, or any other acceptable weighing method. Other than that, being an Affiliate really is what you make of it! Use AGEX to sell your own cattle, use an AGEX chute to help your neighbors and catalogue their cattle, or to expand the services you provide for you customers.

How do I add notes to an animal?

After you add, and save an animal, notes can be added from the animal profile. Return to the animal tab, click on the animal you wish to add notes too. Hit the green plus to open notes and pictures.

How long does the whole process take? How long does it take for my auction to go live?

It varies. All cattle sold on the AGEX platform must carry a registered AGEX Tag. How these tags are put in and how weights are taken is largely dependent on the Affiliate and the Producers’ setup. For instance, if a producer had 20 steers caught up and ready for the affiliate to tag and weigh, the process could take less than 30 minutes. Once cattle are catalogued and weighed, an auction can be priced and up for sale in a matter of minutes (depending on cell data or internet access available to the affiliate in order to upload a sale). The length of the sale will depend on the type of cattle, the day of the week, and, of course, your situation as a producer.

How does AGEX compare with traditional video auctions?

AGEX has multiple selling options when it comes to its auctions, Cash, Contract, or Private. Each and Every animal is digitally accounted for with a digitally unique serialized UHF AGEX Tag which can carry valuable value add data while simultaneously facilitating prompt, accurate payments, either privately or using AGEX’s USDA licensed payment facility.

How can I transfer my data to another producer?

To transfer your animal data to another producer, access the ‘Transfers’ feature in the AGEX Herd Web app. To access the web app, click on ‘My Herd’ on the AGEX website (www.agex.io) or go to app.agex.io, access the ‘Account’ page from the applicable menu, and click on ‘Transfer.’

    1. Select the producer you wish to transfer to. You MUST know their full name, email, or phone number.
    2. Describe the animals you wish to transfer. Can be specific tag numbers, a group, list, location, etc.
    3. Click ‘Request Transfer’

When you request a transfer, an AGEX team member will contact you to confirm your transfer. The receiving producer will be charged a $4/hd data transfer fee in order to receive the animals in their account.

How are cattle priced and how does the auction work?

Cattle are typically given a starting bid, a reserve, and a buy it now price. This allows a Seller to have some expectation as to the price floor while giving Buyers confidence in their bids. Prices are set according to what the market is willing to pay. Affiliates are usually well aware of what the market is doing and can probably help explain what your cattle are worth and price them competitively. If the auction ends with bidding below the reserve, the seller has the option to accept or decline the highest bid.

Can I use my own EID/RFID reader to scan your tags?

No AGEX tags are only compatible with AGEX integrated scanners.

Can I look at other auctions that might be going on? Can I see how previous auctions did?

AGEX users can view all current auctions. We value transparency at AGEX and allow all users to see all current auctions. However, you must be registered as a buyer in order to place a bid. Unfortunately, we do not have previous auctions available at this time, but are working to make this a reality.

If I use your tags and app, do I have to sell through you?

You do not have to sell through our marketplace. However it is advisable if you want to take advantage of all of the benefits offered by AGEX.

What does AGEX sell? Who are your buyers and what do they look for?

AGEX does not limit itself to one type of cattle or buyer; we market all classes of cattle to all kinds of buyers. There are a number of factors that can increase the value of your cattle depending on specific buyers. Consider consulting an Affiliate or other industry professionals to find out what buyers prefer for different cattle classes. AGEX buyers range from stocker operators, to professional cattle buyers and feeders. AGEX is easily accessible on a phone or other device, so there really is no limit to who may be competing for your cattle! Also, rest assured that AGEX is a bonded USDA Market Agency with payment to producers guaranteed.

Do I have to scan the tag every time to look up the animal?

No, to look up a particular animal you can either scan the tag or type in the tag number on the app. To do so go to the animals section of the app and hit the search icon. This will allow you to type in the number of the animal that you are looking for.

How does transportation work?

The AGEX platform is flexible enough to handle producers of all sizes and setups. We generally recommend that producers with less than lot load numbers offer to haul their animals at least some distance to attract bids. While producers do not have to haul their animals, it almost always has a positive effect on price.

I don’t see my breed. Can I add my own?

If your breed isn’t on the app it is possible to send a request to AGEX to have the breed added. It is also possible to click ‘See Description’ in the breed drop down menu and record the breed there or add a note specifying the breed of the animal.

Do I have to keep my cattle penned during the auction?

Cattle must be easily accessible to the Buyer or otherwise readily deliverable based on the specs defined in the auction. Whether or not this involves penning your animals again or keeping them penned depends upon the length of the auction, the logistics situation, the type of cattle, weather, etc. Consider visiting with your Affiliate for suggestions.

Can I add other people to my account?

This function is currently not available but we are working to change this.

What are your fees?

AGEX charges a 1.5% commission on sales where the producer selects the Guaranteed Payment option. There are no other fees that AGEX charges to the producer. Affiliates set their own commission and fees. Your affiliate may also charge additional fees if any additional services are provided by the affiliate.

If I sell privately, how does the next owner get all the animals in their herd?

If you wish to transfer animal data to another producer, see ” How can I transfer my data to another producer?” Data is not transferred without the express consent of the original producer.

How does payment work?

AGEX pays producers via an ACH payment made directly to the producer’s account at the successful conclusion of an auction.

Who is my Affiliate?

Your Affiliate is most likely someone who is involved in your local farm and ranch community in some way. Contact AGEX directly if you would like to learn more and visit with an Affiliate.

Can I customize AGEX Tags?

Unfortunately we do not do custom tags. Our tags all come pre-numbered with a unique 15 digit ID.

Do cattle have to be weighed one by one, or can I do group weights?

Weights can be taken either with an AGEX enabled chute, a group scale, truck scales or by any other method that the Affiliate may suggest or can utilize.

What happens if my animal loses its AGEX Tag?
We know tags fall out. If an AGEX Tag is lost, head to the lost tag number, and scan a new tag into the animals profile.
1. Select the tag number that was lost
2. Click the pencil to edit the animal
3. To the right of the tag #, click the QR code and scan in a new tag
4. Click save to update the animal
5. Return to the animal list screen
All the info you collected on that animal and its old tag, will now be applied to the new tag.
Can I print off a list of my animals and their records?

No this is not possible at the moment. You may however print of the page for your tool bar. 

Do my cattle have to use AGEX tags to sell on AGEX?

Yes. Although AGEX Herd does not require AGEX tags, all animals sold on the AGEX marketplace must carry an AGEX Tag that is scanned and catalogued into the AGEX platform.

What happens if my animal loses its AGEX Tag?
We know tags fall out. If an AGEX Tag is lost, head to the lost tag number, and scan a new tag into the animals profile.
1. Select the tag number that was lost
2. Click the pencil to edit the animal
3. To the right of the tag #, click the QR code and scan in a new tag
4. Click save to update the animal
5. Return to the animal list screen
All the info you collected on that animal and its old tag, will now be applied to the new tag.
Can I choose my numbers on AGEX Tags?

No. The reason AGEX does not give the option to choose your AGEX Tags is due to the fact the tags have predetermined numbers (16 digits that will not be duplicated). Think of this as a VIN on your vehicle. You are not allowed to pick your VIN, just as you cannot pick your AGEX tag number or where your sequence will start. The tags are distributed in sequential order, in bundles of 20, with the specific intention for traceability and record keeping. When you order tags, you will receive numbers in a continued sequence(1234,1235, 1236…etc.) as they come in bundles of 20. Orders over 20 will still come in a continued sequence.

Questions?

We’ve got answers. Visit our FAQ’s page or reach out to our team standing by to help answer any questions you may have.

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