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Express Angus Ranch Yukon, OK
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<blockquote data-quote="inyati13" data-source="post: 1050576" data-attributes="member: 17767"><p>AlexFarms, I understand that and commend anyone for conducting a well organized auction designed to achieve the highest possible bids and resulting prices. But my question has been about how prevalent is the practice of fixing or rigging sales at the beginning of cattle auctions. Texasbred stated, "No it's more like a shell game. There was no market. The seller knew who his buyer was on the highest priced stuff before the sell started." I take that to mean the auction was not conducted within the rules established by the seller and that the original sales at the highest prices were "fixed". That is a criminal violation of intrastate/interstate commerce.</p><p></p><p>I got into this thread to provide the other side which is difficult because I am taking the side where I am providing commentary on what might not have happened. And this subject has been raised before without any challenge. I am simply taking the other side of the coin. Nothing personal. But it would be more credible if anyone could produce anything other than hearsay that this or any auction was fixed. And I am not talking about someone who buys back their own stock. I am talking about a corroboration of participants who plan out the fixing of auction prices in order to influence the results of an auction. Let me be clear, <em>no where in this thread have I stated that it did not/does not occur</em>. I am just curious about this activity.</p></blockquote><p></p>
[QUOTE="inyati13, post: 1050576, member: 17767"] AlexFarms, I understand that and commend anyone for conducting a well organized auction designed to achieve the highest possible bids and resulting prices. But my question has been about how prevalent is the practice of fixing or rigging sales at the beginning of cattle auctions. Texasbred stated, "No it's more like a shell game. There was no market. The seller knew who his buyer was on the highest priced stuff before the sell started." I take that to mean the auction was not conducted within the rules established by the seller and that the original sales at the highest prices were "fixed". That is a criminal violation of intrastate/interstate commerce. I got into this thread to provide the other side which is difficult because I am taking the side where I am providing commentary on what might not have happened. And this subject has been raised before without any challenge. I am simply taking the other side of the coin. Nothing personal. But it would be more credible if anyone could produce anything other than hearsay that this or any auction was fixed. And I am not talking about someone who buys back their own stock. I am talking about a corroboration of participants who plan out the fixing of auction prices in order to influence the results of an auction. Let me be clear, [i]no where in this thread have I stated that it did not/does not occur[/i]. I am just curious about this activity. [/QUOTE]
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