Auto bidding proving popular with hybrid stock auction platform


The addition of auto bid has levelled the playing field for farmers who are at the yards or who are bidding online.

The ability for farmers to virtually attend and participate at cattle sales without leaving the farm went one step further when autobid was added to the popular MyLivestock hybrid auction platform in September 2020.

Bill Sweeney, NZ Farmers Livestock General Manager Livestock said the MyLivestock hybrid auction platform was introduced at the start of the New Zealand wide COVID-19 lockdown.

“The timing was perfect, coinciding with farmers’ need to quit or add stock according to onfarm conditions. The hybrid auction platform meant they could attend the saleyards, under COVID-19 guidelines, and bid – or elect to stay at home and purchase stock.

“We always planned to enhance the platform with the addition of auto bidding and this was introduced last year.

“It’s proven tremendously popular, easy to pickup and use giving farmers a level of flexibility they’ve never experienced before,” Bill Sweeney said.

“Now farmers can check-out a line of cattle online and, based on their knowledge of market prices, place a limit on what they are prepared to pay per head or per kg and then get on with work on the farm knowing they will lead the auction to that limit.

“It is also easy for farmers to cancel or change their auto bid (higher or lower their bid) if they have changed their mind or the market has moved during the sale.”

Bill Sweeney said “the addition of auto bid has levelled the playing field for farmers who are at the yards or who are bidding online and, as a result, we are experiencing record attendance and participation at sales across the country. Location is no longer a factor to whether they attend a sale or not – they can comfortably view the livestock they’re interested from their farm or office and bid in real time.

“Yards will always be the heart of cattle sale auctions having the transport, NAIT, certified weighing, transparency and confidence that everyone wants.

“The yards sell stock and guide pricing. The addition of the MyLivestock on-line option integrated with the yard operation is not only growing the buying bench but has also contributed to greater confidence in the market.”

NZ Farmers’ Livestock hybrid platform, which combines COVID-19-safe livestock sales at the yards or on-farm, features real time video footage which replicates the saleyard experience enabling farmers from across the country to bid in real time.

“The more than 90% clearance rate we’ve achieved since MyLivestock online auctions were introduced early last year is all the evidence farmers need that the hybrid platform provides the options and price discovery they need to move stock in a way and at a time that suits them,” Bill Sweeney said.

For further information contact Bill Sweeney, NZ Farmers Livestock General Manager Livestock, on 027 4515310