Home 5 Ag Stories The Impact of Auctions in the Agriculture Economy

The Impact of Auctions in the Agriculture Economy

by Ken Root & Whitney Flach

Listen Here: Profit Matters 11-15-16

Our traditional means of selling livestock and estates is by using the services of an auctioneer. The chant is familiar and the process is fairly straightforward.  The goal is to put all prospective buyers into an environment where the one with the greatest desire to own the item or animal, wins.  It is quick and it is accepted in business and culture.

In Kansas City, last week, I spoke with a young man who won the national auctioneer championship last year and is a representative of the Livestock Marketing Association.

Andy White an Ohio based auctioneer says, “Everyday auctions make a huge impact in the agriculture economy. Auctions are fast, fun, transparent marketplace. No matter whether it’s livestock, farm equipment, or real estate the consumers like that transparency. That’s why the auction method of marketing continues to be one of the preferred methods when marketing any assets in the agriculture world.”