Most loan terms for feeder cattle last up to one year depending on the nature of the operation.
We pay promptly in compliance with applicable law.
The rates vary as they are set by the lender.
If a formal “hard’ inquiry is made you will be notified by the applicable lender as the application process progresses.
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.
Record Transfer is a service offered by AGEX where a producer can voluntarily transfer animal records to another producer.
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.
Currently, cattle sellers can use social media, other websites, or other means to “market” cattle, however, it is strongly discouraged on most of these avenues for sales, if not all social media websites. For instance, if the price is mentioned in any way within a Facebook post in conjunction with (an) animal(s), it is immediately flagged as being against Facebook’s Terms and Services. In response to this, the seller must message each individual inquiry on price and terms. This can be a large undertaking and if nothing else an inconvenience.
That’s why we are now enabling AGEX Users to post a sale and/or browse sales straight from their own devices. This allows sellers to immediately make a post of their animals, whether they exist on their AGEX Herd or not, along with listing location information and price. This ‘For Sale by Owner’ program will give an opportunity, previously not offered, to communicate with the market quickly.
Any information that is visible on an individual animal. This includes AGEX tags, alternate tags, breed, gender, weights, pictures, as well as any number of structured notes and dates that an animal profile contains. Group, location, and lists do not transfer with an animal unless an entire group, location, or list is transferred.
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.
Nothing! AGEX Marketplace postings are provided for AGEX Herd users free of charge. Data transfers on animals or the use of AGEX’s trade platform to clear trades will incur a transaction fee.
No. You do not have to have AGEX tags to do Record Transfers. However, numbered or lettered Alternate tags that are not AGEX tags can be easily replicated or duplicated, which can be very confusing in some cases.
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.
Absolutely. We understand that you may wish to clear your trades privately, or may not need to transfer your AGEX records, and that’s perfectly fine!
NO. At AGEX, we take your animal and personal information privacy very seriously. A subsequent user cannot see your personal information unless it is written somewhere in the animal’s profile.
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.
Yes, you will need service to post the sale and for it to go live.
Record transfers are $4/hd. There is no minimum or maximum on the number of head. The producer authorizing the transfer is responsible for the costs (though many producers have their buyers or transferees pay them first). The record transfer will not occur until payment is complete.
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.
Yes, if you’d like for a cattle marketer to come out and market your animals straight from the pens, they still can.
To transfer your animal records 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 transferring producer will be charged a $4/hd transfer fee to initiate the transferring of animals to the receiving producer’s account.
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.
To post a sale you must at least have a title (some short phrase to identify your lot), a description, your contact information, and a location. That’s it! Media and pricing are helpful, but not required.
NO. If anyone other than the actual user or an affiliate for the user tries to scan an AGEX tag, the app simply does not authorize the user to see any data and will block the user from seeing any information at all.
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.
Click the ‘Sales’ icon on AGEX Herd and push the green “+” button. Follow the prompts and your sale will be posted.
If you are on the web app, simply select “Create a Listing” from the menu in the top left-hand corner.
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.
A sales post will stay up for 45 days. You can remove the sale at any time.
AGEX pays producers via an ACH payment made directly to the producer’s account at the successful conclusion of an auction.
Anything, so long as its cattle.
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.