Livestock Marketing Systems

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Presentation transcript:

Livestock Marketing Systems

Livestock Marketing Systems Livestock must be sold in order for individuals to make an income The method as to how they are sold depends on several factors Location of livestock Type of livestock Number of animals being sold

Types of Marketing Systems Direct Sale Terminal Markets Auction Electronic Auction Futures and Hedging Vertical Integration

Direct Sale Individual sells straight to buyer with no middle person or firm receiving commissions or fees Works well for selling unique animals and smaller quantities of animals

Terminal Markets Central markets on public stockyards where livestock are consigned to a commission firm to bargain with purchasers or buyers for a certain fee Works well for large quantities of animals being sold Takes the hassle out of selling

Cattle Stockyard

Auction Public bidding with the animals selling to the buyer who bids the highest Works well when the need for the animals is local Can sell small and large quantities of animals

Auctioneer/Cattle Auction

Electronic Auctions Same principle as a regular auction however, computers are used to bid on online auctions for livestock Works well if buyer/seller is located in a region without live auctions Shipping costs can be very expensive for the animal

Online Auction

Futures and Hedging A legal document calling for delivery in the future of livestock, locking in a future delivery price Companies typically design a contract for the delivery of livestock in advance and lock in a set price at the time of the contract This also can be done with rare or high priced animals

Cattle Futures

Vertical Integration Two or more steps of production, marketing, and processing are linked together; usually by contract producers and manufactures About 99% of all broilers and a very high percentage of turkeys, laying hens (poultry) and swine are grown and marketed through vertical integration contracts

Vertical Integration-Tyson Genetics Grow Out Hatchery Processing