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