Pen Hookers

[Medic24]

What does everyone think of pen hookers? I had always looked at them as vultures picking the uninformed clean of any profits from sales at the auction.

But yesterday, I could not help but to accept a fellow's offer for the trailer load. I was surprised to see him run them right through the auction. And although the holsteins brought him a profit, his clock got cleaned on several others that he bought off of me, and as I saw it he was down several hundred dollars in the end. Unless they know something I don't know?

 

[mwj]

If they are doing this at the sale I would think the sale owner would stop it rather quickly. If you are talking about people buying at the farm let them take the risk as long as you think the price is ok. There have been ''traders'' as long as I can remember.
your friend
Mike

 

[MULDOON]

I don't think I've ran into one yet.
Are you saying that people will try to buy your cattle while you are in line, getting ready to unload your livestock?
I don't think that the owner of Our local livestock auction would go for that.

 

[Medic24]

Actually, it is very common here, at least in this area. As many as 50% of the local autions have pen hookers out front. Yes they are openly trying to purchase livestock as they come and line up to off load at the sale barn.

What I understand is....some are buyers trying to fill orders with specific cattle etc, some are speculaters trying to buy cheap sell higher, and some are just simply trying to find the gullables out there and take advantage of the less savy sellers.

 

[fit2btied]

Both of our local barns have signs posted: "Absolutely no alley trading allowed."

 

[Workinonit Farm]

Three of the salebarns in my area also have signs posted "No Pinhooking". At one of the barns it happens frequently anyhow, the other two, I have not seen this happen.

Katherine

 

[TheBullLady]

Also posted at the sale barns in central Texas. I've never seen anyone doing it around here. In fact, I had to read through the posts until I figured out what it was! :oops:

 

[CattleAnnie]

Hey Bull Lady, don't feel bad.

It's a term I've never heard before either.

Had to behave because immediately upon seeing the title of the post, images of blowsy women with caked on make-up and 'Nanny Fran' hair wearing choreboots and coveralls whilst sauntering the aisles with a broken-hip gait trolling for old farmers in their Town Day best.

Can just see "Ma Rancher" walloping "Pa Rancher" alongside the haircut with that suitcase she calls a purse, and telling him to "Put your eyes back into your head, Earl!". ;-)

Take care.

 

[Beefy]

New term for me too. i had in mind that one cow that always seem to be in the mooood. i think all herds have one.

 

[sidney411]

I had to read through the posts to see what it meant too. I have never seen or heard of anyone doing that around here. Do they just give you a check and then you unload in their name? How do you know their check is good? At least when you get a check from the auction barn it is going to be good. Doesn't seen like a good deal to me. If they are buying some cattle and selling them right there you know that they must think they are going to make a profit on them, if not why buy them. Don't you want that money instead of giving it away since you have already done all of the work? There is no way I would do it.

 

[Medic24]

Part of the attraction to pen hooking as a seller is that it is always a cash transaction, thus, no paperwork, no tax reportable sale. I mus tsay upfront tha ti am not a fan of it, I try to keep my bargain with our Gestapo.....er...I mean IRS, I keep decent and honest records, and they don't audit me. Fair trade I suspect.

I was just in amazement that it was like a three ring circus going on outside the cattle sale barn when we got there, and no one was intervening.

 

[sidney411]

So they pay you cash for your trailer load of calves? Or do they pick out one's they want? Do they offer a flat fee or by weight? That could be A LOT of cash! I guess with all that cash in your face I could see the temptation. I hauled in 1/2 a trailer (16 ft) and came home with over $5000.

 

[Dave]

I have never seen this happen at a cow sale. I have watched it happen many times at horse sales. But then horse traders.... well they are a different breed. The owner of one local sale yard slowed this down when he announced that he was entitled to a commision on any and all sales that occurred on his property.
Dave

 

[eric]

Part of the attraction to pen hooking as a seller is that it is always a cash transaction, thus, no paperwork, no tax reportable sale. I mus tsay upfront tha ti am not a fan of it, I try to keep my bargain with our Gestapo.....er...I mean IRS, I keep decent and honest records, and they don't audit me. Fair trade I suspect.

I was just in amazement that it was like a three ring circus going on outside the cattle sale barn when we got there, and no one was intervening.

Do you mean that you're not a fan of it unless it makes you some money, or are you just not a fan of other people doing it?
If I owned the saleyard and I ever saw anyone doing this, I would ban them for life. If I ever saw anyone in my parking lot trying to take away my customers, then I would immediately run them off and if they didnt leave then my next call would be to the police!

 

[TheBullLady]

Unless, of course, the "pen hookers" where people in your employ? Just a thought.

 

[eric]

Unless, of course, the "pen hookers" where people in your employ? Just a thought.

Now that is a real gambler there!! :lol: Would take some mighty big cahunas to pull that trick off!

 

[sidney411]

Are you saying buying for the sale barn? That could be the case. I have heard recently that a local sale barn is buying cattle from other barns and bringing them back to re-sale at their barn. I don't know any truth to it, I just heard it from some oldtimers.

 

[Craig-TX]

I have heard recently that a local sale barn is buying cattle from other barns and bringing them back to re-sale at their barn.

That’s not uncommon. Individuals do it too. If they see good deals and think they can make a little margin they will take a chance. Lots of times the animals will still have the tags on them from the other sale. But I don’t ever see anybody trying to buy cattle off the trailers before they unload. If I was the auction owner I sure wouldn’t put up with that.

Craig-TX

 

[Dave]

Buying for the sale barn happens all the time.
Years ago I worked at a sale barn when things were slow during the winter. There was an independant buyer who would bring in a pot load of cattle every week. If he had an order for 50 cent steers and he bought some for 40 cents at another sale, he would put them in his name and haul them into this sale. Then he would get with the auctioneer and run them up to 50 cents and put them on his original order.
Dave

 

[eric]

Funny you bring that situation up, Craig. My wife and I went out to look at some cows this past weekend, and the man selling them says he has had them for quite a while, wouldn't say exactly how long, but "quite a while."
Anyway, we get there, and these cows still have the paint marker where the salebarn palpated/aged them, and he had some in a trailer for sale that still had the yellow sale tags on them. When I asked him what he wanted for them, he went to his truck and pulled out the salebarn reciept to confirm the prices he wanted. These were some mangly looking, very thin black angus that in my opinion he bought cheap at the salebarn a few days ago and was trying to flip them pretty quickly. He wanted $1250 for a very skinny pair and $1150 for a very thin 3yr 7 mo bred cow, and $1000 for a open 5 yr old! I think I could pick up cows like these at the salebarn any day of the week for about $700-$800 and less than a grand for the pair.

Moral of story: even buying private treaty does'nt guarantee you quality cows!