NZ Farmers Livestock’s hybrid auction platform has delivered a stock clearance rate of more than 96%.

In a little over a week since it was introduced, NZ Farmers Livestock’s innovative hybrid auction platform has delivered a stock clearance rate of more than 96% at six livestock sales.

Livestock General Manager Bill Sweeney said the company’s hybrid auctions “where clients can either bid at the yard or bid live online, are providing demonstrably superior outcomes to other online options where prime and store sales are less than 30% clearance, while continuing to charge farmers and delay movement.

Alan Hiscox, NZ Farmers Livestock King Country Regional Manager commented on the appreciation from farmers in regard to the new platform “Yards bring the transport, NAIT, certified weighing, transparency and confidence that everyone wants.

“The yards sell stock and guide pricing; we’ve added an on-line option integrated with the yard operation that 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.

Bill Sweeney said “As a consequence we’re getting more farmers ‘attending’ our sales. 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 office and bid in real time.

“And those wondering about their selling options can observe an auction and then choose the option which best suits their class of stock or situation – from the yards or the paddock. “The more than 96% clearance rate we’ve achieved over six sales 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.

“Yards bring serious sellers, and that brings buyers. That, along with the stock on show and the transparency at auction, builds confidence and that is driving completed sales and good price discovery. We are seeing good meat buyer and trader support.” Bill Sweeney said NZ Farmers Livestock is optimistic traditional sale yard operations, with the required personal spacing and safety precautions, will resume under COVID-19 Level 2 “but the online platform is here for good.”

NZ Farmers Livestock will be taking the online format on-farm next week with the country’s first on farm clearing sale with live online bidding, which will see an elite herd of dairy cows go under the hammer at Galatea on Tuesday 12 May 2020.