"Going once, going twice... SOLD!"
Most consumers believe auctions really only exist for estate sales, fancy art and jewelry, cars, and equipment. But auctions in the cattle market is BIG business and a primary function for commercial feed yards to source the cattle they need. Those feedlots, ultimately, is where the big packers go to get the cattle they need to turn into beef year round. This market functions as a commodity which can be sold on the cash or futures market, which can have some global effects across the globe. All of this happens, well before a steak makes the meat case or a happy home's grill.
Today, we sat down with Mark Van Zee, Sales Manager of LiveStockMarket.com to give us an upclose view of the cattle market.