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.