Craig-TX
Well-known member
Bama":2d96zqeg said:
Boy is that ever the truth. In commercial cattle the money is made on the front end.
Auction Language
- Thread starter ROCKSPRINGS
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Boy is that ever the truth. In commercial cattle the money is made on the front end.
Susie David
Well-known member
Oh yeah....almost forgot, don't be anxious and stick your hand up as soom as the auctioneer says 'Gimmee one fifty"...he'll be going down when the folks don't bid, when a fair starting value is reached folks will bid. That one fifty steer wil most likely start off at 110 or less. See who is active, the order buyers have a limit and stick to it, regular folks or certain groups can get real expensive quick. If two guys are bidding, stay out of it,
if you're bidding with another guy and a new man bids you are going to loose a fresh horse in the race usually has more money to spend and has something to prove.
When no one is bidding at all on a perticular animal there is a real good reason, don't think that you are getting a real bargan. There are the weekly traders that buy at one sale and sell a week or even days later at another hoping to make a fast buck.
You can tell there are alot of folks that love the song of the auctioneer.
Be carefull when you take the wife, mine won't leave until the trailer is full.
DMc
Up here you can pretty much know who's cattle are being sold 'cause the auctioneer will tell you and like most places some have a better reputation than others and the demand usually reflects this.
if you're bidding with another guy and a new man bids you are going to loose a fresh horse in the race usually has more money to spend and has something to prove.
When no one is bidding at all on a perticular animal there is a real good reason, don't think that you are getting a real bargan. There are the weekly traders that buy at one sale and sell a week or even days later at another hoping to make a fast buck.
You can tell there are alot of folks that love the song of the auctioneer.
Be carefull when you take the wife, mine won't leave until the trailer is full.
DMc
Up here you can pretty much know who's cattle are being sold 'cause the auctioneer will tell you and like most places some have a better reputation than others and the demand usually reflects this.
Texas PaPaw
Well-known member
Rocksprings
Lots of good advice from others. Important points IMO:
1. Go to the auction repeatedly until you understand the auctioneer and the process. During your learning period, sit high up and far to the side, in order to observe both the ring action and the buyers. There is much to learn from watching the buyers as well as the ring. Do not buy anything until you are somewhat comfortable with the process. Buying right is a crucial factor in the profitability of an animal.
2. Before you go to buy, do your homework. Have a maximum price established for each class of animals you are considering. Give yourself an order, just like you were an order buyer. After the sale, critique your purchases, comparing them to your order.
3. During the sale, be patient, and have discipline. Do not make the opening bid! The auctioneer will continue to back down until someone bids. That person just set the bottom price for that animal. It will never get cheeper after that. Don't get into a bidding war on any one animal, there will always be another one. If not this week, there will always be next week. Stick to your price plan. If it is obvious your target price is too low, you may want to reevaluate your plan. Just don't get carried away on a particular animal. Don't go with the idea you have to buy X number of animals. If you don't get all you need, there will be next week.
4. Don't be too predictable. If your max price is $900 and you stop bidding at $900 every time, someone will figure it out and "run" you to $900 on every animal you bid on. Occaisionally stop bidding at $850-875. If someone is "running' you and you stop short, they can get stuck with the animal. It doesn't take but a couple of times to teach them a lesson. Also you may want to go slightly above your max price from time to time, just to keep things off balance.
5. An veteran auction buying mentor can be extremely valuable. Try to find one to help you.
6. Remember:
A. Good judgement comes from experience, & experience come from bad judgement.
B. In order to succeed, one must first plan to fail, inexpensively.
By studying, doing your homework and learning from the experiences of others it is possible to get experience at the least possible expense.
Just my 2 cents worth. Sorry for the length of this post.
Regards
Brock
Lots of good advice from others. Important points IMO:
1. Go to the auction repeatedly until you understand the auctioneer and the process. During your learning period, sit high up and far to the side, in order to observe both the ring action and the buyers. There is much to learn from watching the buyers as well as the ring. Do not buy anything until you are somewhat comfortable with the process. Buying right is a crucial factor in the profitability of an animal.
2. Before you go to buy, do your homework. Have a maximum price established for each class of animals you are considering. Give yourself an order, just like you were an order buyer. After the sale, critique your purchases, comparing them to your order.
3. During the sale, be patient, and have discipline. Do not make the opening bid! The auctioneer will continue to back down until someone bids. That person just set the bottom price for that animal. It will never get cheeper after that. Don't get into a bidding war on any one animal, there will always be another one. If not this week, there will always be next week. Stick to your price plan. If it is obvious your target price is too low, you may want to reevaluate your plan. Just don't get carried away on a particular animal. Don't go with the idea you have to buy X number of animals. If you don't get all you need, there will be next week.
4. Don't be too predictable. If your max price is $900 and you stop bidding at $900 every time, someone will figure it out and "run" you to $900 on every animal you bid on. Occaisionally stop bidding at $850-875. If someone is "running' you and you stop short, they can get stuck with the animal. It doesn't take but a couple of times to teach them a lesson. Also you may want to go slightly above your max price from time to time, just to keep things off balance.
5. An veteran auction buying mentor can be extremely valuable. Try to find one to help you.
6. Remember:
A. Good judgement comes from experience, & experience come from bad judgement.
B. In order to succeed, one must first plan to fail, inexpensively.
By studying, doing your homework and learning from the experiences of others it is possible to get experience at the least possible expense.
Just my 2 cents worth. Sorry for the length of this post.
Regards
Brock
mwj
Well-known member
Brock that explains a lot of things that many ''vetran'' buyers should remember :cboy:
ROCKSPRINGS
Well-known member
What is an order buyer, and the term "running you" ?
An order buyer is a person that has orders from others to buy cattle for them.ROCKSPRINGS":dmy5qjpi said:
Most order buyers buy cattle for feedyards or backgrounders, buying certain types and weights of cattle to fill the orders. They may have orders for maybe a dozen or more types and wts. of cattle.
ROCKSPRINGS
Well-known member
I think they call them "Packers" here in South Texas.la4angus":10y6detp said:
Texas PaPaw
Well-known member
ROCKSPRINGS":1dt4v4bh said:
"Running you" is when a person who has no interest in buying an animal is bidding on it. Could be for any one of many reasons, such as the seller of the animal trying to get you to pay a higher price or maybe just one of the "Good Ole boys" testing a newcomer. Not saying this happens frequently, just telling how to avoid getting burned if someone tries to test you. Like they say "the best defense is a good offense" or is it the other way?
As the others replied, an order buyer is a person who buys cattle for another person and are usually paid on a commission basis. In my area the vast majority of calves, yearlings & packer cows are bought by order buyers.
Hope this clarifies the situation.
Regards
Brock
Ryder
Well-known member
Amen!Texas PaPaw":35l2vmfm said:
Excellent advice for anybody starting out on any new venture.
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